There is a growing trend for businesses today, whatever their size, to move to the “cloud”. The cloud is an online platform to make data and software accessible, anytime, anywhere and from any device. Gone are the days of being chained to your...
Read MoreMixed Use Assets
When an asset, such as a bach or a boat, is used both privately and to generate income, prescriptive rules exist within the Income Tax Act that determine the extent to which a tax deduction is available. Expenses broadly fall into three...
Read MoreAuckland Fuel Tax
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 MoreAfter work drinks
AFTER WORK DRINKS A recent study found that up to one in five office workers enjoy going for a drink with co-workers at least once a month. This begs the questions as to whether after-work drinks are good for a person’s career. Although there is...
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 Houses that were acceptable in the 1970’s are now considered outdated and low quality for 21st century living.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 MoreVoluntary Disclosures (Traddies)
Traddies have been under the watchful eye of Inland Revenue (IRD) for the last few years since being identified as a cash-dominated industry in 2012. A media campaign has recently been launched to warn tradespeople that doing ‘cash jobs’ may...
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...
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