Income & expenses PRO
8 Example Road, Hamilton. Your rent, expenses and mileage stay organised here, matching Inland Revenue's IR3R (Rental income) schedule box by box, ready to fill in yourself or hand to your accountant.
Xero
Connect your Xero organisation to push rent payments as bank transactions and categorised expenses as bills.
Connect to XeroIR3R summary for 2025-2026
Inland Revenue's IR3R (Rental income) schedule is the official form you file at tax time. This is a summary of this property's numbers, organised to match its boxes.
Box 15 · Net rents (preview)
$0.00
Income
Box 1 - Total rents
$0.00
Box 2 - Other income
$0.00
Box 4 - Total income
$0.00
Expenses
Box 5 - Rates
$0.00
Box 6 - Insurance
$0.00
Box 7A - Total interest on residential property
$0.00
Box 7B - Interest expense claimed
$0.00
Box 8 - Agent's collection fees
$0.00
Box 9 - Repairs and maintenance
$0.00
Box 10 - Other
$0.00
Box 14 - Total expenses
$0.00
Box 15 is a preview based on the figures above, not the final tax return figure. Residential rental losses are subject to loss ring-fencing rules, use the Residential property deductions worksheets (IR1226) or your accountant to complete the actual return.
Depreciation (boxes 11-26) and any gain/loss on disposal (box 3) aren't tracked here, building depreciation has been 0% since 2011 for most residential property, and asset depreciation needs a full asset register. Talk to your accountant if either applies to you.
Other income
Rent itself (Box 1) is tracked automatically from the rent ledger. Record anything else here - insurance payouts, rates refunds, etc.
No other income recorded for this tax year.
Expenses
No expenses recorded for this tax year.
Interest (2025-2026)
Interest is subject to limitation rules - capture one total for the year rather than itemising. If you're unsure which exemption reason (if any) applies, confirm with your accountant before relying on this for your return.
Vehicle mileage (2025-2026)
The IRD kilometre rate changes every tax year and varies by vehicle type - it isn't pre-filled. Confirm the correct rate for your vehicle at ird.govt.nz before saving it here.
No trips logged for this tax year.