Property Accountant - Auckland



Property Accounting Services

Property Accountant - Property Accounting Specialists in AucklandAnnual accounting for property is a specialist area. Naturally you are keen to know that your taxation advisor is locking down every cent of tax deduction that you are legally able to claim, and minimise your tax.

You need to know that you have people that are ethical and well regarded managing your affairs, so that you do not get audited regularly by IRD (Some accountants have bad reputations with IRD)!

You need to know that you have the best advice, the best structures and be supported in your investing decisions with good common sense advice, from people that do it themselves and speak from experience.

This is just what you get at GRA.


Some Property Accounting Guidelines

Here are some pointers for you to self review your property accountant and property accounts:

1.      Do you have all of the expenses in your rental return that are standard, including:

       a.      Accounting fees

       b.      Body corporate fees

       c.      Depreciation, including chattel valuations

       d.      Insurance

       e.      Interest, including any interest borrowed outside of the property that might be deductible

       f.      Interest rate break cost fees incurred

       g.      Home office expense claim ( a percentage of your home expenses, based on the ratio
                of the size of your home office as a percentage of your home)

       h.      Property management fees

       i.      Repairs and maintenance

       j.      Rates

       k.      Telecommunication costs, including 50% of your home line and tools related to your
                property, plus a potion of your mobile phones.

       l.      Travel costs to your vehicle.

       m.    Telecommunication costs related to your properties

       n.      Valuation fees, relating to financing

       o.      Vehicle expenses, by log book with shareholder reimbursement for small investors, or
                for larger property people by direct vehicle ownership in the LTC with restrictive use
                arrangements to eliminate fringe benefit tax obligations.

       p.      Water rates

While this list is not comprehensive for a passive investor, - it is a good starting point and something you can be assured that GRA would be looking at annually for you if we are managing your affairs.



Cashbooks & Annual Accounting Information - How Do We Collect Information From You ?

The process of providing your accountants the information they need at year end to do your tax, is simple and fast.

1.      Firstly you need to fill in an Annual Client Questionnaire, - a form on to which
          you write down all of the things the accountant wants to know like, did you
          sell any assets or buy any assets during the year, what are your cash
          receipts and payments through out the year, and what is your home office
          claim going to be.

2.      Secondly your accountant will want a cashbook ( if you have one) showing
          cash received and cash paid.


At GRA we offer many ways for you to provide your cashbook information to us. Some of these are as follows:

*       Manual systems, - give us a list of receipts and payments made by you and
         we will collate them.

*       A spreadsheet - the cheapest ( its free) and most straightforward is we give
        you a spreadsheet to fill in and you track your receipts and payments
        in it. Simply fill it in and email it too us.

*       Xero - Xero is online accounting software designed to make bank reconciliations           simple, provide real-time insightful reports, share access with your accountant and                  make managing your books a whole lot easier! 

        You can use Xero on any brand of computer and there is no software to download.      You can login anytime , any whereon your Max, Windows, iPhone or Android.  It's simple              and smart.  Bank feeds automatically import and categorise your latest banking, credit            card and PayPal transactions and all you need to do is click OK to reconcile.

GRA is a Certified Xero Advisor

*       Any accounting package you wish to use - we can read nearly all of them and
        import their data.


Remember best practice is to make sure that all receipts and payments related to business pass through the bank account that relates to that business. This makes it easy to track and trace all business income and expenditure, and makes sure you do not forget to report the expense or income at year end.

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Typical Salaried Property Investor Structure - Family Trusts & LTC

Accountants Property Structures

 For more information about this diagram, please request an interview.


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Typical Property Trader / Developer Tax Structure

Accountants tax structure

 For more information about this diagram, please request an interview.

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We moved our business accounting to GRA twelve months ago and have never looked back.  Matthew Gilligan and his team have consistently provided us with honest straight forward advice and have proved themselves to be honorable, trustworthy and efficient in all matters to date. The point of difference for us is that GRA do not charge their clients for every question asked (like most other accountants) which allows for better communication and understanding of how to run a successful company.  GRA have impeccable time management systems in place and their customer service is outstanding.  I recommend them to any other business that wants good solid advice with the aim of business success, asset protection and opportunities for sound investments.
A Ellis - EC Flooring Contractors Limited

NEW ZEALAND TAX CALCULATOR

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