Whether to sell current home or use as a rental

[Perry]

I'm a congenital coward and can't see much percentage
in buying into fights with the IRD.

I don't adopt one corner of the ring or another. I've
been audited once and the only error found was one
made by my accountant. And it really was immaterial.
Maybe the auditor had to find something?

De minimus non curat Lex.

I once filed a NOPA with / against IRD and they gave
in without so much as a response and paid up. It
was a trivial sum, but I did wonder why they tried
it on, in the first place. Gauging potential prey? No
more than a computer glitch? Who's to know?

I don't think I really disagree with you, much beyond
observing that it's best to 'pick one's fights' and
only pick the ones with an odds-on winning chance.

I'd guess that even spaceman would agree with that.

[kapitibeanman]

I currently use about 10% of my floorspace for my business. To me, doing the maths, it really doesn't add up. The couple of dollars a week in tax I'd save would be more than outweighed by the time I spent calculating everything, so I just kind of shrug it off. I don't bother with the small stuff because by the time the accountant processes it at $150ph it really slaughters a lot of things.

That's the same conclusion I came to Neongreen, after years of farting around with receipts and lists and messy rates demands and mortgage tables. It was a nice feeling letting it go with a clear conscience and the knowledge it was financially beneficial as well. Mind you, I didn't have a big personal mortgage with claimable interest, that would have tipped the scales back a bit.
Perry, We're in the same corner I agree. Spacey's an agreeable character with tons of nous, he must be singing from the same songbook, surely!
Did you ever read Rodney's book? I must Google and find out what it's called. I liked Rodney for writing it, he really was sticking up for the little guys I think.

[roseneath_rat]

Jace, back on topic briefly in the rants about IRD... this decision needs to be based on the merits of holding the first property as a rental long term. On face value it pays a relatively poor return relative to its current value at about 5.2% gross, or 4.0% after deduction of operating expenses but before financing. On the other side, take into account the transaction costs (real estate agent fees & advertising, legal conveyancing). Are there other better property investments out there that suit your future portfolio ambitions?