Wellington Accountants: A yearly tax strategy for real estate owners

Investing in real estate has grown in popularity over the years, especially when interest rates are cheap. As prices increase, investors frequently purchase real estate in order to profit in the long run. A reasonable price should be one of your criteria when investing in real estate. Additionally, you might want to use a property management company if you are not handling your rental yourself, you live abroad, or you have a sizable rental portfolio. They would alleviate your worry regarding tenant screening, compliance, inspections, maintenance, and other related tasks.

Keeping records and paying taxes are additional responsibilities of property ownership. Rent payments are considered money, and income is subject to tax, as you might expect. The tax rate is also based on the sort of property, and there is also GST to consider if you are short-term renting out like an Air BnB.

There are still many things to consider.

Illumin has developed a rental package that would be perfect for you whether you have one investment property or ten, and a property manager looking after your nest egg. We are aware that each property has a unique set of requirements, as do the owners of those properties. We also know that working with a property manager ensures proper financial management of your rental property. That makes our work simpler, so we have created a number of tax packages that are tailored to your individual needs and take into account the excellent financial management you have in place, all while keeping you in compliance with the Inland Revenue.

We offer a variety of packages, not just for one particular location. We also offer packages for business ownership and numerous properties.

Every box contains:

Serving as your tax representative and sending reminders for tax payments Rental Statements for each property, an Asset and Depreciation Schedule, and your yearly Income Tax Return
membership to Xero
You have access to unlimited help, so call or email us whenever you have a question (fair use policy applies)
You receive a complimentary yearly client review as an Outside client as well.

Choose the package that best represents your real estate assets, then let Outside handle the rest.

If you would like a package for a particular property portfolio situation, speak with us.