Changes to Rental Property Expenses & Bright-line Test
Interest Deductions On Rental Properties From 1st October 2021, interest deductions on residential investment property acquired after 27 March 2021 will not be allowed. Interest on loans from properties acquired before 27 March 2021 can still be claimed as an expense. However, the amount you can claim will be reduced over the next 4 income years until it is completely
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Covid 19 Business Support Packages Update
With the recent rise to Alert Level 3 in Auckland in February 2021, due to the cases on COVID-19 in the community, the Government announced additional support for businesses. Jason talks about the Resurgence Support Payment (RSP), which is a payment to help support businesses due to a COVID-19 alert level increase to Level 2 or higher. Watch the video
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Claiming Expenses When You Work from Home
Whether you’re a contractor, sole trader, in partnership or own a company, if you use your home for business, you can claim a portion of your household expenses. What can you claim? You can claim 100% of expenses that are solely for business purposes e.g. business phone line, stationery For the rest, you can claim the proportion of your house
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