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Get ready to shift to payday filing

From April 2019 all employers will need to file their employment information every payday. This means instead of filing an Employer monthly schedule (IR348) every month, you'll file employment information every payday in line with your normal payroll cycle. Providing us with more timely information means your employees will have more certainty about what they will receive, eg Working for Families Tax ...

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Kilometre rate for business running of a motor vehicle

The Commissioner has issued a new Operational Statement 18/01 – Commissioner's statement on using a kilometre rate for business running of a motor vehicle. This updates and replaces Operational Statement 09/01 - Commissioner’s statement of a mileage rate for expenditure incurred for business use of a motor vehicle, issued in May 2009. The new rules allow the choice between using the cost ...

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Sell products? Check out this website

Any businesses that sell products need to ensure they’re safe, and their measures are accurate. Trading Standards has a new website to tell you all you need to know. We ensure New Zealanders have safe products, accurate measurement and quality fuel. We also administer and maintain three occupational licensing registers — motor vehicle traders, auctioneers and pool inspectors. Check it out Source: www.business.govt.nz ...

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What you need to know about your ACC invoice

Everyone in New Zealand who’s in business has to pay ACC levies, which cover the cost of injuries caused by accidents. This year's invoices are coming soon. Here's how to get ready. What you need to know Whether you’re self-employed, a contractor, or you have staff, you’ll likely receive an invoice from ACC between mid-July and mid-August. Everyone in New Zealand who is ...

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Is your business export ready?

If you’re not exporting yet, but are serious about getting it right from the start, Export Essentials workshops can help you prepare and build a strong pathway for international growth. Export essentials workshops If you’re thinking about exporting, you likely have a lot of questions. Last year, New Zealand Trade and Enterprise (NZTE) launched the Export Essentials programme to help answer them. Export ...

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Have overseas accounts? What you need to know

If you have an account with an offshore financial institution, including accounts maintained with certain offshore trusts, information about your overseas investments will soon be shared with Inland Revenue. What you need to know New Zealand is one of 105 countries and territories that has committed to sharing financial account information to combat global tax evasion. These laws have been in place ...

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If you can’t back it up, don’t say it

If you sell products or services, you need to be able to back up the claims you make about them. A new video from the Commerce Commission gives tips for traders on false, misleading or unsubstantiated claims and how toavoid making them. Consumers rely on what you say – make sure it’s true A new video from the Commerce Commission provides advice ...

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Are you making the most of your KiwiSaver?

How to qualify for the member tax credit If you’re between 18 and 65 and mainly reside in New Zealand you can qualify to receive the member tax credit. This is a government contribution of 50 cents for every dollar of member contribution you make in a year towards your KiwiSaver, up to a maximum payment of $521.43. This means you ...

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Cryptocurrency - What are your tax obligations?

In simplest terms, cryptocurrency is money that only exists digitally or virtually. Cryptocurrency uses cryptography and blockchain technology to regulate its generation and verify fund transfers. There are no special tax rules for cryptocurrencies, ordinary tax rules apply.Inland Revenue have recently released Cryptocurrency and Tax guidance about how the tax laws apply to the new technology. The guidance includes answers to ...

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How small businesses can use tech to be more productive

Technology offers huge opportunities for all businesses – not just the big ones. There are many ways you can use tech to help you work smarter, not harder. Here are some ideas for your business. It’s not as hard as you think You might think new technologies are out of your reach – too complicated, too expensive, and too hard to implement. ...

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