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The new top tax rate

A new top tax rate of 39% will apply on personal income in excess of $180,000 for the 2021-2022 and later tax years. For most taxpayers this begins on 1 April 2021. Those who are provisional tax payers may need to adjust their provisional tax payments throughout 2021 to account for the larger year-end tax bill. Source: www.ird.govt.nz ...

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Discounted tax for your first year in business

If you’re new to business, you may be eligible for a discount for paying your income tax early. This applies to sole traders, contractors and partnerships. Start by checking if the early payment discount makes sense for your situation and your cash flow. Then set yourself up with good systems and get your tax ducks in a row. How it works In ...

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