Tax pooling can provide your business with greater flexibility on your payment of tax and more favourable interest rates if you under or overpay. Due to the impact of Covid-19, Inland Revenue has recently announced it has extended the tax pooling deadline, after recognising the cashflow difficulties some taxpayers face in the wake of the […]
Tax Pooling Deadline Extended Read More »
Ticking items off your end-of-year tax checklist this month? Make sure you don’t forget income received from COVID-19 business support. Also consider whether further tax relief measures could be appropriate. Rules to Keep Cash Flowing If money is a bit tight as the financial year draws to a close, here are three tax measures focused
6 Things You Should Know Before Filing Your EOY Tax – Post COVID-19 Read More »
New RWT Rate Available From 1 April 2021 a new top tax rate of 39% was introduced for individuals who earn over $180,000 in a year. Now that the 1 October implementation date has passed, if you earn over $180,000 you need to update your RWT deduction rate with your bank or other interest income
Individuals earning over $180,000 a year will now pay a 39% tax rate, which came into effect on 1 April 2021. If this includes you, are you aware of how your tax obligations change when it comes to shares, property, FBT, superannuation tax, or trusts? The 39% Tax Rate and Trusts From now on, you’ll
The 39 Percent Tax Rate Read More »
IRD has recently implemented new rules for sale/purchase of a business or property, and changes to the loss carried forward rules.
IRD Tax Updates 2021 – The latest changes Read More »
Ticking items off your end-of-year tax checklist? Here are 3 things you should consider, including the new 39% tax rate.
3 Things You Should Know Before Filing Your EOY Tax – Post Covid-19 Read More »
A reminder that IRD no longer accept cheques. Here’s a summary of other payment options: myIR: Direct debit and card payments can be made from myIR. Online banking: One-off or scheduled recurring payments can be made using online banking. Money transfer: Clients based overseas can pay IRD using a money transfer service. Search for “Make a payment” on
IRD and Cheque Payments Read More »
IRD have recently changed their policy in relation to late paid provisional tax, and the result is potentially expensive for taxpayers. If you late pay a standard provisional tax payment under the safe harbour method or standard option (even by $5 or one day!), the result is you fall outside the safe harbour method, and
Late Paid Provisional Tax? Talk to Us First! Read More »
When your staff are working from home, how do you track their work-related expenses and get a clear real-time picture of your finanicals? Contractors are in the habit of recording business expenses related to the home office for tax reasons. Employees, however, do not claim deductions because the employer pays for these expenses. Xero have
Xero Adds New Features to Help Track Work-Related Expenses Read More »
The Government has launched the Small Business Cashflow Loan Scheme (SBCS) as another measure to assist eligible small-to-medium businesses adversely affected by COVID-19. From 12 May 2020, businesses employing up to 50 full-time staff may apply to the Inland Revenue Department for loans of $10,000 plus $1,800 per employee. What’s involved? the loans accrue interest
Small Business Loans to Ease Cashflow Read More »
