Tax Talk

ACC Premiums
ACC provides personal injury cover for everyone in New Zealand. A number of changes have taken place that you and your business need to be aware of.
Donations
Individuals and companies are entitled to claim rebates/deductions for donations made in an income year. Complete your IR526 form available on the IRD Website.
Depreciation
You must claim depreciation on fixed assets. Depreciation allows for the wear and tear on a fixed asset and must be deducted from your income.
Fringe Benefit tax
Fringe benefit tax (FBT) is a tax on benefits that employees receive as a result of their employment, including those benefits provided through someone other than an employer.
Goods and Services Tax
GST is a tax on the supply of goods and services in New Zealand by a registered person on any taxable activity they carry out.
KiwiSaver
KiwiSaver is a voluntary, work-based savings initiative to help New Zealanders with their long-term saving for retirement.
Online Sales
Understand the taxes associated with online sales of physical and digital goods via the internet.
PAYE
Pay as you earn (PAYE) is the basic tax taken out of your employees' salary or wages. The amount of PAYE you deduct depends on your employee's tax code
Penalties
Taxpayers who do not meet their tax obligations may face penalty or interest charges. To avoid such charges, you should pay the full amount of tax you owe by the due date.
Provisional Tax
Provisional tax is not a separate tax but a way of paying your income tax as the income is received through the year.

Latest Tax News

06.04.2017

Costs of Living on the Farm

IS 17/02 has been released by IRD on the 'Deductibility of Farmhouse Expenses'.


06.04.2017

IRD's Direct Approach

There has always been an unwritten agreement between IRD and tax agents, that IRD will not contact clients directly. However IRD appears to be going directly to clients for not only outstanding tax, but also calling clients re...


06.04.2017

Taxpayer friendly changes from 1 April 2017

On 1 April 2017 use-of-money interest will now cut in at an RIT of $60,000 up from $50,000. For those clients who use the standard uplift method to calculate their pay provisional tax, there will no longer be any UOMI for both P1...


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