How does GST work in my business? In the normal course of your business, you charge GST in your sales and income and claim it back on your purchases and expenses. You then calculate the difference in your GST return to work out if you owe GST to Inland Revenue or if...
Is it only PAYE that’s deducted when I do the wages? PAYE includes income tax and ACC earners’ levy. Depending on each employee’s situation, you may also deduct child support and/or student loan repayments. Occasionally Inland Revenue may notify you of additional...
If you provide a gift to a client, depending on the type of gift, you may be able to claim a tax deduction. It may be completely deductible or only 50% deductible.If the gift is in the nature of ‘entertainment’, such as food and wine, it will be 50% deductible. If...
Tax Changes Without any real warning the Government has targeted residential property investors with significant tax changes in an attempt to cool the housing market growth. In bullet point we set out the changes to the bright-line test and interest deductions on...
On 10 June, the Government released a 143-page discussion document providing further insight on how it will be limiting the deductibility of interest on residential investment property. The Government confirmed that interest deductions will generally no longer be...
