News Category

In this newsletter, we inform you of a temporary system shutdown by IRD for system updates over Labour Weekend 2024. From 5pm Friday, 25 October to 8am Tuesday, 29 October, myIR, phone services, and gateway services will be unavailable. We also advise early filing for returns due over the shutdown period, including the 28 October GST due date, which is automatically extended to 29 October. Payments for Working for Families and Child Support will remain unaffected.

This newsletter highlights upcoming tax deadlines for October and November, including payroll and GST obligations. It also discusses changes in GST for Airbnb and other electronic marketplace rentals starting April 2024, and updates on Xero’s pricing and payroll enhancements. Additionally, it covers rules around foreign share taxation and announces a feature on insolvency firm Blacklock Rose.

Our latest newsletter focuses on important tax deadlines for June and July 2024, tips for avoiding IRD-related scams, and efficient methods for storing business records electronically using Xero and Hubdoc. It also highlights alternative tax payment options through Tax Management New Zealand (TMNZ) to help manage provisional and terminal tax obligations. Stay informed and plan ahead to ensure smooth financial operations.

With damage from the adverse weather events in Nelson, Marlborough, Far North and the Tasman having devastating effects, Cabinet have declared ranges of support for affected businesses, individuals and families affected by the floods. Find out if you qualify for any of the support granted due to the recent weather events below. To assist affected farmers and growers, we are exercising discretion to allow late deposits for the 2022 year and early withdrawals from the income equalisation scheme. What’s an income equalisation scheme? The income equalisation and environmental restoration schemes are a way for certain types of businesses to even

For those who took out the Small Business Cashflow Scheme (SBCS) loan when it first became available in May 2020, the 2-year interest-free period and subsequent repayment period is fast approaching.

The Government is investing $100 million into a new Business Growth Fund, it announced in the latest Budget. This funding is designed to help small- to medium-sized businesses (SMEs) get the investment they need to grow, while allowing owners to keep control. Why has this fund been launched? It’s always been hard for SMEs to get business loans, which can hold them back from growing into larger operations. If you have ever tried to get a loan for a small business, you’ll know the banks can be reluctant - they’ll often ask for the loan to be secured against your home.…

We wish you a safe and relaxing Christmas, and an abundant New Year! We’re closing our doors on 22 December 2021 and will reopen in the New Year on 12 January 2022. Thank you for working with us this year — we appreciate you! Below are the key compliance dates coming up. If you have questions or need help with any of the following, we are here to help. Key Tax Dates – DECEMBER 2021 And don’t forget about GST, PAYE and provisional tax falling due from 17 January in the new year! Anything keeping you up at night? If you’re facing

The Trusts Act 2019 came into force on 30 January 2021 – your Trust must now be compliant with the new Act. The aim is to make the law more accessible and easier to understand. Most of the changes relate to Trustee obligations and strengthening the ability of beneficiaries to hold Trustees to account. If you have a Family Trust, or are involved in a Trust in some way, you must make yourself familiar with the provisions of the Act and ensure your Trust is compliant. The main provisions of the Act provide clarity about: Trustee Duties: The Act provides for

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 deductions they require you to make. If the employee is in KiwiSaver, you will need to deduct their KiwiSaver contributions at the proper rate. You must also contribute a minimum of 3% of your employee’s gross salary or wages to their KiwiSaver fund. You are liable for ESCT (employer’s superannuation contribution tax) for all employer contributions paid to

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 gifts consist of food or drink, you can only claim 50% of the expense as a tax deduction. If gift baskets or hampers contain food or drink as well as other treats, the food or drink items are 50% deductible, but the other gift items are 100% deductible. Keep

The government has announced the Well-being Budget 2021, focusing on ‘securing our recovery’ with heavy investment in health, welfare, and infrastructure but for most business owners there were no substantial new initiatives to help continue their recovery in a COVID-19 world. Welfare Budget 2021 brings an increase to the weekly main benefit of between $32 and $55 per adult by 1 April 2022, to bring these in line with a key recommendation of the Welfare Expert Advisory Group. Alongside this, the government will provide an additional boost of $25 per week to students and $15 per adult per week to