Home ownership

Homeowners can claim several things as accommodation costs for Accommodation Supplement. Generally, these are:

• mortgage repayments (interest and principal repayments on mortgages to purchase a house)
• payment towards a deposit if included in a rent to buy contract
• retirement village residents with 'Licence to occupy'
• body corporate fees
• local authority rates (if they get a rebate, this must be deducted)
• water rates
• house insurance premiums (must not include contents insurance)
• mortgage protection insurance or life insurance (only if this is compulsory for the mortgage)
• cost of essential repairs and maintenance to the home

Other costs that can be claimed are:

• leasehold rental for leasehold land and for Māori rent
• principal and interest repayments made under the Loans for Major Repairs Advances to Homes scheme
• costs of a farm residence (but only if these costs are not claimed as an expense in the farm business account)
• costs of a home that is also being used as a business (but only if these costs are not claimed as an expense for the business)