IRD has released excellent news for landlords, that could save you $5000!
Due to Covid 19, the IRD is allowing you to claim an immediate tax deduction for assets costing less than $5000 if purchased between 17 March 2020 to 16 March 2021. This is particularly relevant to property owners who are upgrading heating in their properties.
You will be able to claim the expense in this current financial year, if it is up to $5000, rather than depreciating it over the life of the asset. The below table outlines this in more detail.
Interested to learn more? You can find more information on the IRD website here.
If you're considering Property Management get in touch with us today. Locally owned and managed, we offer residential property management services across the entire Wellington & Hutt Valley region.
We take care of investments, offering peace of mind and a personal service to investors and tenants alike. Our solutions are backed by industry-leading technology and proven systems that promote both excellent property care and strong investment returns. Taking on all aspects of the landlord’s role, we guide our clients with professional, tailored advice using our extensive experience and insight in the rental market that can only be built over time.
If you would like to chat about the possibility of working together, or to receive a no-obligation, FREE Rental Appraisal get in touch with our team today.
Quinovic Johnsonville | Wellington
Call Jordan Atkinson - 027 297 0873
Quinovic Hutt Valley | Wellington
Call Helen Vance - 027 487 8103
Quinovic Kent Terrace | Wellington
Call Jordan Atkinson - 027 297 0873
Quinovic Wellington Property Managers