As a taxpayer, if you don’t pay your tax, pay late or underpay, you are subject to use of money interest. So what does this mean? When do you have to pay use of money interest to Inland Revenue? Taxpayers that must pay use of money interest are those who: have...
Should New Zealand have a capital gains tax – or does it effectively have one already? Walker Wayland can look at what gains you’ll pay tax on, and what gains are tax-free. New Zealand doesn’t have a single, comprehensive capital gains tax, and although the Tax...
If you have income from overseas sources, it can be hard to work out your tax position. Here are five points to consider #1 Declare rental income from overseas properties. You can claim deductions for rental-related expenses, and you may also be able to claim a credit...
There are more than 100 tax changes that took effect this financial year, and some of them may be relevant to you. Here’s a brief summary of what’s happening: Matariki is now a public holiday for tax purposes. GST is being tweaked for: groups; importers and exporters;...
