AUCKLAND TRANSPORT – FUEL TAX Filling up the tank in Auckland will soon cost more than the rest of the country. A 10 cent per litre petrol tax is expected to be in place by July 1st. The tax will be added to the price of petrol and is hoped...
Read MoreInternet of things
You may have heard the term ‘internet of things’ (IoT) bandied about recently, but what exactly is it? IoT is the name given to interconnected devices that can communicate with each other via the internet, through the sending and receiving of...
Read MoreLoss offets & subventions
The loss offset (and subvention payment) mechanism allows a ‘profit’ company to reduce its taxable income by utilising the tax losses of a ‘loss company’. The mechanism is a great tool that is commonly used. Before a loss offset can be made, the...
Read MoreRepairs & Maintenance (Housing WoF??)
*The condition of New Zealand’s housing stock was hotly debated during the lead up to the election. Houses that were acceptable in the 1970’s are now considered outdated and low quality for 21st century living. With the introduction of a new...
Read MoreAccommodation Allowances
In today’s fast changing commercial environment, it is common for employers to provide board or accommodation to employees, and move staff to new locations based on the needs of the business. This can occur when permanently moving an employee to...
Read MoreTeam Development
Business owners and managers are often focused on a company’s financial performance, return on investment and other monetary indicators of business success. Intangible investment in human capital can commonly be overlooked as it can be difficult...
Read MoreHolding Gold
Can an investment in gold bullion create a tax liability? Inland Revenue (IRD) has recently released a statement on this specific point. IRD consider that gold bullion purchased as an investment has been acquired with the purpose of eventual...
Read MoreBudget 2017
Budget 2017 presented a broad range of small yet smart changes that target working families and low income earners. From a tax perspective, the key changes are predominantly to the income tax thresholds, working for families’ package and the...
Read MoreSale & Purchase of Residential Properties
SALE & PURCHASE OF RESIDENTIAL PROPERTIES Proof of Intention: The sale and purchase of residential property is an area of focus for IRD Investigators as a result of the ongoing investment in the Property Compliance Programme. A Taxation...
Read MoreThe Business of Immigration
New Zealand’s immigration system is currently undergoing a significant overhaul, which is sure to impact many local businesses. Following the changes to Investor Category visas announced in December 2016, further changes are also proposed to the...
Read MoreLimited Partnerships
Limited Partnerships Initially envisioned to be the preferred investment vehicle for foreign venture capital investors, the Limited Partnership (LP) was brought to life in NZ with the enactment of the Limited Partnerships Act 2008. LPs have now...
Read MorePAYE changes and tax simplification
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...
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