Inland Revenue Archives - Page 2 of 2 - Brian Spragg Chartered Accountants Business Advisor and Financial Planning

PAYE changes and tax simplification

Posted by Brian Spragg Views 242

Inland Revenue (IRD) have recently released a new Taxation Bill and published the eighth discussion document in the Making Tax Simpler series, both of which aim to reduce the cost of tax compliance and administration for NZ businesses and...

FBT changes on the horizon

Posted by Brian Spragg Views 355

Currently, companies that provide a motor vehicle for the private use of their employees must register for and pay FBT. Draft legislation has been introduced which will enable some small businesses to avoid having to pay FBT. The proposed...

When is income from professional services derived?

Posted by Brian Spragg Views 223

The Inland Revenue Department (IRD) recently released a new interpretation statement discussing when income from professional services is considered to be derived, and hence becomes taxable. The statement replaces several older IRD Information...

Importance of good record keeping!

Posted by Brian Spragg Views 297

A recent case Taxation Review Authority (TRA) decision has highlighted the importance of good record keeping. The taxpayer, an accountant, was accused by Inland Revenue (IRD) of using a company as a vehicle to create a tax advantage. He claimed...

Changes to IRD

Posted by Brian Spragg Views 362

Changes to the IRD’s administration system The manner in which we interact with Inland Revenue (IRD) is likely to change dramatically over the next two years as the upgrade of IRD’s IT system and associated legislation comes on-line. IRD’s broad...