Property-related tax information

Learn about the tax rules that apply to property, including when you need to pay tax on property sales, the tax rules for qualifying companies and rental properties.

Paying income tax on profits from property sales

You may need to include profits you make from selling property in your taxable income in some circumstances. Find out more about paying income tax on profits from property sales.

Read our Buying and selling residential property (IR313) guide to help you to understand whether you should be paying tax when you sell a property. The guide will help you decide whether you need to get more information or professional advice.

GST on rental apartments

Find out what it means for an apartment to be zero-rated for GST, and tax issues to consider if you want to sell a zero-rated apartment or change its use.

Read the Thinking of selling your leased apartment? (IR498) guide if you are thinking of selling your leased apartment or changing its use, and are unsure if you'll have to pay GST.

Find out more about GST, registering for GST or cancelling your GST registration.

Rental income

Find out about the tax rules for people who earn income from rental properties or provide boarding services.

Read the Rental income (IR264) guide to learn about the tax rules for people who rent out residential property, or who have boarders and flatmates.

Use the Rental income schedule (IR3R) form to show the income you have made from rental property.

Use the Standard cost home-based boarding services calculator if you have paying boarders living in your home and want to find out if you are required to return income using the standard cost basis for an income year.

Depreciation

Depreciation allows for the wear and tear on a fixed asset and must be deducted from your income. Learn about methods of depreciation and the records you must keep.

Use the Depreciation claim - calculate your tax deduction calculator when assets are purchased in earlier income years.

Loss attributing qualifying companies (LAQCs)

A qualifying company maintains its company structure but receives the taxation benefits of a partnership. In a qualifying company the shareholders will be personally liable for any income tax not paid by the company.

Read our Revenue Alert RA 07/01 for more information about private homes held in LAQCs.

Read the Qualifying companies (IR435) guide to learn about the tax law surrounding qualifying companies, including the eligibility criteria for becoming a qualifying company, advantages and disadvantages of being a qualifying company, and differences between qualifying and non-qualifying companies.

Use the Qualifying company or loss attributing qualifying company elections (IR436) form to elect to be either a qualifying company, a loss attributing qualifying company (LAQC), or both.

Use the Transfer date calculator to work out the effective date and maximum that can be transferred from one tax type, period and/or taxpayer to another.

Calculators

Tax due date calculator

Use the Tax due date calculator to calculate return and payment due dates for any number and combination of tax types.

Tax on annual income calculator

Use the Tax on annual income calculator to work out income tax and income tax rates.

Putting your tax returns right

If you've made a mistake or filed an incorrect tax return, it's best to tell us about it before we find out in some other way. The Putting your tax returns right (IR280) guide will help you put your tax returns right.

 

Date published: 19 Feb 2009

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