The property investors guide to

Understanding Your Kiwitax Rental Annual Accounts and Financial Reports

Financial statements can be tricky to read if you’re not used to them. They often include specialist language and a lot of figures. At Kiwitax, we prepare your reports in line with the professional guidelines of ATAINZ (Accountants and Tax Agents Institute of New Zealand), and we want to make sure you understand what they actually show.

Here’s what’s in your Kiwitax rental annual accounts and what each section tells you.

We’ll break it down for you.

What’s Included in Your Kiwitax Rental Annual Accounts?

To explain, we’ll use a fictional couple, Daniel Rivers and Laura Kemp, who jointly own a residential rental property that they rent out to long-term tenants. If your situation is different, for example, if the property is owned through a company or trust, or if you run a business instead, your reports will look slightly different.

Here’s what you’ll typically receive:

Want to see what business accounts look like?

Go to The Business Example

What Do These Documents Mean?

Annual Accounts Letter

This is a summary of how your rental performed financially over the year. 

It shows important figures such as your profit and outlines how your accountant has arranged things to lower the tax you pay.

It also provides guidance on managing tax payments and planning ahead.

Tax Payment Calendar

The tax payment calendar oulines when your tax payments are due. It includes:

  • The type of tax (e.g. provisional tax)
  • The due date
  • The amount to pay
  • Which property owner the payment relates to (name and IRD number)

Financial Reports

These are the core financial documents. They include:

  • Statement of Financial Performance – shows your income (rent received) and expenses
  • Statement of Financial Position (also called a Balance Sheet) – outlines assets’ value, what is owed, and the resulting equity position at 31 March
  • Depreciation Schedule – shows how your assets (chattels, e.g. dishwasher) lose value over time
  • Schedule of Financial Leases & Term Loans – lists loans related to the property (e.g. mortgage), including amounts borrowed, repayments made, interest paid, and the balance still owing
  • Notes – extra details to help explain the numbers

Documents to Sign

These documents confirm your financial and tax details. The property owner(s) must sign them before Kiwitax can file your tax return with Inland Revenue (IRD). 

Rental Annual Accounts and Financial Reports FAQs

A detailed breakdown is available in your financial reports.

This is because they are reported on the GST exclusive values.
Another reason could be that 20% of their purchase price was expensed under the Investment Boost Scheme.

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