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The Business Advisory Blog

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Insight, news and updates from Alliott NZ Chartered Accountants, Auckland New Zealand. The views expressed here are the views of the author and should be discussed in further detail should an article be relevant to your individual circumstances.

While every effort has been made to provide valuable, useful information in this publication, this firm and any related suppliers or associated companies accept no responsibility or any form of liability from reliance upon or use of its contents.  Any suggestions should be considered carefully within your own particular circumstances, as they are intended as general information only.

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Real estate sector allowable deductions

Written by Greg Millar on April 6th, 2021.      0 comments

Overclaimed expenses

We have identified that real estate salespersons/agents are claiming a high level of expenses relative to their income.


Real Estate AgentWe believe that people are claiming private expenses but not keeping logbooks or other business records to support a deduction.

As part of your end of year client review, you may wish to ensure you are keeping sufficient records to support expenses claimed. If the IRD is concerned someone has overclaimed expenses, they'll send them a letter asking them to provide records to support expenses claimed.

Please contact Alliotts' team of Chartered Accountants and Business Advisors in Auckland if you have any questions or visit realestate@ird.govt.nz for more information.
 

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