If you run a farming business, your income can experience some hard knocks with seasonal peaks and troughs, bad weather or other extreme events. Have you considered income equalization to help manage your tax and take some pressure off cash flow? To ease financial...
A major tax difference between commercial and residential buildings is that you can claim depreciation on commercial buildings. Depreciation for buildings was removed across the board in 2010, then reinstated – but only for commercial buildings – as part of a 2020...
As an employer, if you provide fringe benefits to employees, or others associated with your business, you must generally pay fringe benefit tax (FBT) on the value of these benefits. So, when are you liable for FBT? Any time you provide non-cash benefits to your staff....
Remembering the filing and payment deadlines for your business can be challenging. And forgetting about tax payments coming up can seriously disrupt your cash flow planning. We have summarised tax deadlines coming up in August for you to prevent you from missing any...
Inland Revenue was taking a much more relaxed approach to outstanding tax debt during 2020 and 2021 – but now it’s ready to crack down. Since the start of July, it has stepped up its efforts to pursue outstanding amounts from local businesses. Inland Revenue...
