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  1. #11
    Join Date
    Jul 2011
    Location
    Tauranga
    Posts
    2,172

    Default

    We would be needing an Ikea then

  2. #12
    Join Date
    Jan 2004
    Location
    Whangarei
    Posts
    5,194

    Default

    Quote Originally Posted by klauster View Post
    Yes, I found it strange, too - renting in NZ where the tenant can’t have his own kitchen.
    I think it's because NZ tenants don't tend to stay as long. Also renting here is often more because of a lack of money to buy a house (or a kitchen) than because they want to.

  3. #13
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    2,181

    Default

    Quote Originally Posted by patmat-co-nz View Post
    Is kitchen really non-depreciable? My ValuIt report even had "non-structural walls" as separate items.
    Kitchen definitely not depreciable anymore. Lots of items on valuit reports aren't claimable, and some are in grey area (ie IRD say no, but really should be allowable)

    Ross
    Coombe Smith Property Accountants www.cswaikato.co.nz
    Are you sick of your Large Auckland Accounting firm charging too much
    for rental accounts? Click here for guaranteed 30% off

  4. #14
    Join Date
    Nov 2009
    Location
    North Shore Auckland
    Posts
    525

    Default

    Quote Originally Posted by Rosco View Post
    Kitchen definitely not depreciable anymore. Lots of items on valuit reports aren't claimable, and some are in grey area (ie IRD say no, but really should be allowable)

    Ross
    Rosco.....can you pleeeeez clarify for me the following....

    • I replaced a fence last year....it fell down and couldn't be repaired.....cost of materials $1700, labour $3000....is this part of building? If so, can it be expensed...or just the old value for fence written off....and what happens if the old fence is not on chattels list?



    • you said the kitchen is not depreciable.....if you replace it, does it mean it can be expensed....or is it just the old kitchen's value written off?



    • I have a roof that should be replaced...it's asbestos so can't be repaired. Can this be expensed?


    My accountant has told me that I can only claim the labour costs for the above...nothing for materials

  5. #15
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    2,181

    Default

    Quote Originally Posted by Ahar View Post
    Rosco.....can you pleeeeez clarify for me the following....

    • I replaced a fence last year....it fell down and couldn't be repaired.....cost of materials $1700, labour $3000....is this part of building? If so, can it be expensed...or just the old value for fence written off....and what happens if the old fence is not on chattels list?



    • you said the kitchen is not depreciable.....if you replace it, does it mean it can be expensed....or is it just the old kitchen's value written off?



    • I have a roof that should be replaced...it's asbestos so can't be repaired. Can this be expensed?


    My accountant has told me that I can only claim the labour costs for the above...nothing for materials
    Hi Ahar,

    I'm sorry but you need to get a new accountant. On what basis can you claim the labour but not the materials? Either the whole thing is claimable as a repair, or it is an asset the can be depreciated, or its a building asset and can't be depreciated.

    - Fence is not building. So I'd need a bit more information but sounds like an improvement to the fence. Therefore write off old (if there is one) and capitalise the new one. Then claim depreciation on new fence each year

    - old kitchen is part of building. So difficult to write off. New kitchen, as long as similar level as old one, will be an expense. It is not an improvement to the whole building.

    - generally the roof woudl be a repair, as is part of building. As long as not improved, ie bigger, longer, extra rooms etc.

    Ross
    Coombe Smith Property Accountants www.cswaikato.co.nz
    Are you sick of your Large Auckland Accounting firm charging too much
    for rental accounts? Click here for guaranteed 30% off

  6. #16

    Default

    Guys, What about a DVS. I recently installed one in a rental. Is this tax deductible ?

  7. #17
    Join Date
    Nov 2007
    Location
    north shore
    Posts
    172

    Default

    Sorry another one, part of our carport is leaking and also it needs more bracing. If we put in more bracing and then replaced all the coloursteel on the carport is this claimable under repairs and mainteance?

  8. #18
    Join Date
    Nov 2007
    Location
    north shore
    Posts
    172

    Default

    personally I would like to just replace the carport but council says I need to get a new building consent (which they probably wouldn't give us)


 

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