Rental Income

Total rent received from tenants over the year. Include all rental payments before expenses.

Laundry, car parking, storage fees, or any other income from the rental property.

Deductible Expenses

Council rates, water rates, and property insurance premiums. Fully deductible.

Regular repairs and maintenance. Capital improvements are not immediately deductible.

Fees paid to a property manager for managing the rental property.

Annual interest paid on the mortgage. Subject to interest limitation rules from 2026.

Legal fees for tenancy matters and accounting fees for tax returns.

Depreciation on chattels like carpets, appliances, and furniture. Buildings are not depreciable.

Travel costs for property inspections and advertising costs to find tenants.

Body corporate or strata fees for apartments and units.

Any other deductible expenses not listed above.

Interest Limitation & Ring-Fencing

From 1 April 2026, interest on loans for properties acquired after 27 March 2021 may be limited. Existing properties may have 100% deductibility.

%

For existing properties: 100%. For new builds (acquired after 27 March 2021): 0% from 2026. Check IRD rules.

Ring-fencing limits rental losses to be offset only against rental income, not other income (from 2019).

Any rental losses from previous years that can be carried forward under ring-fencing rules.

Brightline Test

The Brightline test determines if capital gains on property sales are taxable.

Brightline period is 5 years for existing properties, 10 years for new builds. If within the period, capital gains may be taxable.

Original purchase price of the property.

If you have sold or are considering selling, enter the sale price to calculate Brightline implications.

Personal Income

Your total other income (salary, wages, business income, dividends, interest) for the year.

Residents pay progressive tax rates. Non-residents pay 10.5% on rental income.