New Zealand Rental Property Annual Returns
Storey & Associates Ltd are experts in New Zealand rental property annual returns, ensuring your annual return is completed quickly and efficiently, so that you get the best results on your return.
Whether you live in New Zealand or overseas, if you own a rental property in New Zealand IRD require you to lodge an annual return each year, to avoid penalties for non-compliance. Important things to remember for rental property annual returns are:
- Ensure you compile all deductible expenses to IRD standards.
- Lodge and pay on time to avoid any non-compliance penalties.
- Use the correct legal structure otherwise tax can become very expensive with non-compliance penalties, late payment penalties and interest charges.
Even if you are not living in New Zealand, any losses can carry forward to future years for when you eventually return to New Zealand. Rental losses in New Zealand can also be used to offset overseas income.
Why choose Storey & Associates Ltd to process your rental property returns?
Frequently Asked Questions:
Q: How does it work?
A: We will work with you once a month to keep on top of your accounting needs, usually this is incorporated with GST returns. We can review KPI’s – ie. debtor days (45 days + = management in crisis), gross profit / cost of goods sold %, turnover days, profit, provisional tax reviews.
Accounts Receivable (what clients owe you at the end of last month) = x
Sales Turnover (last 12 months) = y
x/y = Debtor Days
(If greater than 45 days = management in crisis! – Give us a call)
Q: Who needs a Virtual CFO?
A: SME’s – Small to Medium businesses. Typically from 1 man bands to 25 employees.
Q: How much?
A: $200 + GST per month.
Q: How long does it take?
A: 1 hour per month.
Q: What do I need to do?
A: Come in and see us – work through the issues you face in your business. Work out what your KPI’s are, because what you can measure – you can manage.