Tax returns and empty properties
The rules are clear around claims and income in NZ if you don’t live here
By: Mark Withers
23 October 2024
Q: We have an investment property in New Zealand but currently don’t live in the country and have not earned income over the past year in NZ. Are we eligible to claim on things in our tax return – eg interest? We have been told we can’t claim anything.
A: You are only able to deduct expenditure when there is a nexus with income, so if the property is not rented there will be no deduction. If it is rented, you can and must file a tax return in NZ declaring the rental income and deducting the expenditure associated with deriving the rental income.
Mark Withers
