Property Accountants

Expert accounting advice for Property Developers


At Outside Accounting, we will guide and support you to manage the financial department of your property development

Property Developer Accounting Services

Accounting services for property developers



 Accounting and Tax

 Business Advisory


Get a Complimentary Consultation

Fill up the form below and our team will contact you shortly!

Accountants for property developers


Are you planning to upgrade your property or some parts of it? Did you know that you can write off some of these costs? That’s right! You just need to know the best way to do it.

Firstly, it is important to know the difference between an improvement and a repair to your investment property to determine whether your expense is an improvement or a repair. This is because a repair can be written off immediately while an improvement can be written off over a longer period through depreciation.

To increase the value of your investment or attract higher rental income, you can renovate your property but as mentioned earlier, repair and improvement get different tax treatments.

To repair means to renew parts or fix defects, excluding total reconstruction. It also allows the property to be used in its current state. An improvement, on the other hand, provides a greater function to the property and makes it more desirable or valuable compared to repair. The improvement often extends the property’s income-producing ability and enhances its market value significantly.

A renovator should focus on value instead of just tax because an improvement should increase rent and market value, which will be compounded over time. Under improvement, you can claim painting, gutter part replacements, plumbing maintenance, water leak repair, kitchen door or window replacement and carpet replacement as repair items.

You may also need to look at the size and frequency of the project to know whether it is a renovation expense – like replacing kitchen cupboards one at a time. If you replace all carpets and gutters at once, it is considered an improvement and could be depreciated. Note that different rates apply based on useful life. The expenditure will be split between equipment and plant or capital works as well.

If you complete a repair before your property is first rented, the costs are considered an improvement because the purchase price must likely have taken into account the disrepair.

Confused? Get a depreciation schedule when you renovate and make sure it’s broken down to maximise allowable depreciation. If you need help with this, give us a buzz and we’ll be on it!


Meet the Outside Team!

OUR Clients
Wellington Accountants Wellington Bookkeepers Property Accountants Business Bookkeepers Hospitality Accountants Hospitality Bookkeepers Contractor Accountants Contractor Bookkeepers

Food Envy

With over 20 years experience in kitchens, Taz took the leap and set up Food Envy in 2012 – a way to share his love of good food and hospitality.

Wellington Accountants Wellington Bookkeepers Property Accountants Business Bookkeepers Hospitality Accountants Hospitality Bookkeepers Contractor Accountants Contractor Bookkeepers

Tidy Slabs

Addressing the challenges of the industry is the hardest part of a build but Tidy Slabs believe that foundation work can be simple – with a well-defined process, and a high standard that’s maintained every time.



Andy Garvy
Read More
The team at outside are a dedicated bunch. They go above and beyond in every situation and provide so much more than your standard tax accounting. They have developed process maps, management reports, managed our invoicing, payables and pretty much taken care of every part of our business when we have needed it. They are a big part of our business and will continue to be moving forward.
Matt Holton
Read More
A great team - striking the right balance between professional, knowledgable accountants while being fun and personable to deal with. Always quick to respond. Harri has prepared my end of year statements and GST returns. I'm based in Auckland and have managed to snag a spot at the "co-working desk" in their office a couple of times while I'm down in Wellington.
Sarah Ny
Read More
These guys are not the typical accountants. We engaged with Outside originally for our small business accounting needs, but over the years they have provided invaluable services above and beyond. We have grown as a business and Outside worked alongside us the entire time, supporting us with expert and professional advice throughout our journey. They are an awesome bunch, so easy to get along with, they break everything down into regular speak and no question is too dumb to ask. Their door is always open, everyone is super welcoming and they make a mean coffee.