Lifetime Property Accounting

09/06/2026

Tip 2 - second best tip when you are buying a rental, get completely independent advice.

09/06/2026

How important is it to negotiate well when buying a rental (or Personal Home)?

The table compares a $600,000 loan over a 30 year term, with a $550,000 loan based on the same repayments.

A $550,000 loan will pay $172,174 less in interest!
A $550,000 loan will be paid off 5 years and 5 months earlier!

It's amazing how much you can save by paying $50,000 less for a property, or from having a loan that is $50,000 lower!

Plus:
1) A $50,000 buffer and $50,000 initial equity is created if you are truly buying under value
2) $50,000 in additional capital gain when you ultimately sell
3) In the long term, more equity and lower interest costs should mean you can buy the next property sooner

08/06/2026

Tip 1 of 3 - if you are looking to buy a rental property

08/06/2026

We’re trialling something new with a small group of our existing clients…

Over the next few weeks, we’ll be running a Financial Health Check session. Designed specifically for property investors to step back and review the bigger picture.
This isn’t just about numbers. It’s about making sure everything behind your financial position is working together and that key elements haven't been forgotten.

We’ve developed a practical checklist to guide the conversation and uncover areas that are often overlooked, from risk management and KiwiSaver through to trusts, estate planning, and retirement readiness.

Why might this be valuable for you?

- Get clarity on where you stand today
- Identify gaps or risks before they become issues
- Hopefully only 15 minutes over Zoom with Ross
- Leave with clear next steps and priorities

This is a test run, so we’re keeping it to a handful of clients initially.

If you’re an existing client and would like to check you have everything in order, you can book a session with Ross here. We have allowed 30 minutes but hope to have this completed in 15. https://coombesmithlifetime.as.me/financialhealthcheck

The session is completely free.

06/06/2026

Having flatmates can help financially and may even get you a tax refund!

06/06/2026

3 best tips if you are looking to buy a rental

05/06/2026

Property Trading Example.
Purchase a property for $550,000, renovate it, and have it appraised by agent at $660,000 to $680,000.

Is this a good trade?

Short 6-minute video.

Purchase for $550,000, renovate, and appraise for $660,000 to $680,...

05/06/2026

New IRD kilometre rates are out from IRD.

They are slightly above last year (picture in comments).

You can also use AA rates, which generally are slightly higher.

03/06/2026

What is the biggest mistake Property Traders make?

GST and zero rating.

Normal situation - Generally, GST registered Property Traders will buy from a non GST registered vendor and then be entitled to a GST claim on the purchase. For example, if buying for $690,000, the GST registered Property Trader would get a GST refund of $90,000.

BUT, sometimes the vendor is another Property Trader, or Developer and the vendor is also registered for GST. As both the vendor and purchaser are GST registered, the sale is zero rated. This means the purchase price should be the GST exclusive value, but often the Sale and Purchase agreement is incorrectly completed. Using the example above, the price should be $600,000 + GST.

Common mistakes we see, using the same example as above:

1) Sale and Purchase agreement between two GST registered parties at $690,000 inclusive of GST - unfortunately, this means the transaction zero rates at $690,000, meaning the purchaser has effectively purchased for $793,500, or paid an extra $103,500 more than expected. This could result in a significant loss for the Property Trader purchaser. Great for the vendor!

2) Front page of Sale and Purchase agreement not completed, and not confirmed whether Vendor is GST registered. A key requirement, when you are a GST registered Property Trader is knowing for certain the vendor's GST status. Otherwise, you might have overpaid on the purchase.

3) Schedule 1 not completed - To reduce risk, always complete Schedule 1 to make it 100% clear that you are buying as a GST registered Property Trader and using the property as part of your taxable activity. Sometimes this can also identify that while the vendor is GST registered, part of the property might not be part of the taxable activity. This could mean, even with the transaction being zero rated, the purchaser may be entitled to an additional GST claim! This is more likely when purchasing a lifestyle property or farm. For example, a lifestyle property is sold for $1m plus GST, with the agreement stipulating the house and curtilage are $700,000 and not part of the vendor's taxable activity, and the land is part of the taxable activity at the remaining $300,000. In this case, a GST registered Property Trader purchaser using the whole property for their taxable activity (property trading) could claim the GST back on the $700,000 house and curtilage, which equals a $91,304 GST refund!

The best advice is to send us a copy of the Sale and Purchase agreement and have a quick chat with Ross to make sure you are not making a costly GST mistake. Please ensure the front page is completed first and it is clear whether the vendor is GST registered or not!

02/06/2026

Are you claiming income protection insurance as an expense in your tax return?