While it seems that the year has only just begun, it’s February already and very soon we’ll find that we’re in March and the end of the tax year is upon us. At this time property owners who have received rental income during the year need to turn their attention to firstly gathering the information for their the rental property tax return, then competing the return and filing it with the IRD.
For many this means providing details to their accountant as to how much rent was made, the expenditures on the property for repairs and maintenance and other expenditure for improvements.
The good news is that we help make this process very easy. On the first business day of the new year we email every owner with the financial records for the previous year. This includes all rental income received, expenditure made and even includes a partially completed IR3R return. Many of our owner clients have an accountant prepare and file their tax return and by simply forwarding our email on to their accountant they’ve fulfilled much of the information gathering phase of completing the tax return. The email we send covers one or more properties of an owners that we manage, so one email deals with it all.
Note that you can also visit our secure online owners portal to check on financial and inspection reports for your property and to do this all you need is an owner PIN number. If you don’t have that number please let us know and we’ll provide you with yours.
If you have any questions regarding this or any other aspect of our service please don’t hesitate to contact us.