Your browser version is outdated. We recommend that you update your browser to the latest version.

Rental Coach is now Live!

Posted 18/5/2018

We are happy to announce that Rental Coach is now live and up and running! Just in time for your 2018 Tax Return preparation!

Rental Coach is Now Live!Rental Coach is Now Live!

For those of you who don’t know what Rental Coach is, it is an on-line course focused on giving landlords the skills and confidence to equip them to tackle the numbers with their rental property. Through the course, landlords can learn to do their own tax returns for their rental property and learn how to understand what these numbers mean for their investment in their rental property.

The idea is that doing this course will save the landlord in accounting fees each year – they invest in the course in the first year and then save in future years. Even if the landlord wants to retain their current accountant, they should be able to reduce the amount of accounting fees charged by being able to do most of the preparation themselves.

The course is not only a resource for tax related questions, but also landlord related issues such as Tenancy Agreements, tenancy disputes, and information about other situations like having boarders and flatmates, and what you should do when looking for new tenants.

There are many additional resources that landlords can access in the course too.  For example, a common issue with rental properties is that of Repairs and Maintenance – when can I put it as an expense and when is it an improvement? In this topic we explain the process to follow when deciding if something is an expense or an improvement, we walk through some examples, and we provide a flowchart that you can print out and stick on your wall!

For more on what the course contains, have a look at our website. For more information on how to buy and the pricing, then visit this page on our website.

This week is the time each year that Inland Revenue publishes the information you need to complete your IR3 through a myIR account. If you don’t know what information you need to do your tax return for your rental property or how to get a myIR account, we show you how in the course.

Please note: This course is designed for rental properties owned in your own name or jointly with other people. This course does not cover rental properties that are owned by a company, trusts, clubs, Maori authorities, or anything to do with overseas or foreign interests. This course may help as some aspects are the same, but there are many tax fish-hooks with these ownership structures. If you are filling out an IR3 for a tax resident individual, this course is right for you.

If your rental property falls outside of this category, you can still purchase this course to learn about the general tax rules relating to the income and expenses of a rental property, but you will still need an accountant or tax advisor to help with the specific tax rules relating to these other ownership structures.

This course also only covers rental properties that are in New Zealand. If you have a rental property outside of New Zealand (such as Australia), then you will need an accountant to guide you through the requirements.

Rental Coach is now live!Rental Coach is now live!