The Minister of Revenue has confirmed that a Supplementary Order Paper to the Taxation Bill has been introduced to extend the bright-line period from 2 to 5 years.
One of the first questions business owners ask when a new government enters power is what changes, if any, are coming in the area of tax.
From April 2018, small businesses, sole traders and contractors can choose a new pay-as-you-earn option, rather than paying provisional tax in instalments several times a year.
IRD’s been working hard to be easier to do business with. As you read this, its new tax system is kicking in, giving you new and simpler ways to manage...
Money laundering is big business in New Zealand. Every year $1.35 billion of fraud and drug related money is laundered through seemingly legitimate businesses.
For most business owners I have met, their business is a part of them, a part of their identity.
Following on from last month's cash flow blog, we thought we'd go into more detail on how we approach cash flow forecasts.
Regardless of whether you’re a startup or a well-established business, the ‘cash is king’ adage will always ring true.
Provisional tax and GST are due on 15 January.
Are you planning a Christmas event for your clients? Is gift-giving on your to-do list?
Getting a job at Google is reportedly 10 times harder than getting a place at institutions like Harvard or Yale. The company employs 7000 people a year, from 3 million applicants.
Fifty years ago, farmers and others sprayed toxic chemicals onto weeds in blissful ignorance of the need for personal protective equipment.
You may provide company vehicles to some employees. In some cases, the vehicle is a work tool – for example, a ute for a project manager.
The way contractors pay tax changed on 1 April, giving greater choice, and making it easier to get tax right.
If you use Airbnb to provide short-term accommodation in your house in which you also live, the IRD’s “mixed-use asset (holiday home)” rules don’t apply and guests are not classed...
If you are a contractor already under schedular payment rules: You must complete the new tax rate notification form (IR330C) when you start any new job on or after 1...
It’s been compulsory since 1 July last year for any new tenancy agreement to include an Insulation Statement.
You need to follow the following steps when paying contractors:
The purpose of a business is to make money, and that means you have to know the difference between profit and cashflow.
A tax bill passed in May made changes that affect cashflow.
A threshold for reportable tax debt is now in effect, giving creditors greater protection from businesses owing debts of more than $150,000.
Minister Judith Collins recently said that correcting simple tax errors and sending that information to Inland Revenue was still largely manual and may be costing business.
If you receive income, you must pay tax. So if you have rental income, you have to pay tax on it, right?
Do you hate it when GST return time rolls around? If so, you’re in good company.
A key principle of the tax system is taxpayers should pay tax as income is earned.
Taxpayers who earn income from various sources may get caught short if they don’t plan ahead. This could come about in various ways:
Parliamentary plastic surgery is in store for the Trustee Act, to make trust law easier to access and understand.
Changed Research and development (R&D) tax credit rules, which came into effect at the start of the 2016 income year, can help business cashflow.
Get a clear cashflow picture before third quarter.
Most of you will be aware of the latest budget announcement. Below we have outlined the key takeaways from this year's budget, including changes to the tax thresholds and an...
New Zealand is a “standout nation” according to the latest Digital Evolution Index, released by Tufts University in Boston in July.
While it’s easy to think of business culture as a bit soft compared with, say, achieving sales, in fact it’s anything but.
If you rent out your holiday home sometimes, you may have to pay tax on that income.
Sometimes boats and aircraft are used for private and commercial purposes. In such cases, the income from their use may be liable for tax.