News
Landlords, do you know the rules for ending a tenancy?
if you sign a tenancy agreement on or after 11 February 2021, you cannot end a fixed or periodic tenancy without an acceptable reason which is set out by the Residential Tenancies Act 1986 (the Act). Some scenarios which allow landlords to end a tenancy are: the owner is putting the property on the market within 90 days after the termination date the ...
Tax Policy Announcements - rate updates for UOMI and FBT on low-interest loans
Two Orders in Council have been made updating the rates for use of money interest and the rate for calculating fringe benefit tax on employer-provided, low interest loans. The new underpayment rate for use of money interest is 10.91% (previously 10.39%). The new overpayment rate is 4.67% (previously 3.53%). These will apply on and after 29 August 2023. The new prescribed rate ...
Renewed focus on GST compliance
Now is a good time for you to address overdue GST. Over the past few years the level of overdue GST returns and payments has steadily grown. During this time the majority of IRD effort has been spent on supporting business through COVID-19, and more recently adverse events. As we transition back into more regular activity, IRD will be focused on ensuring ...
What’s the difference between employees and contractors?
Does your business use both employees and contractors? It's important to distinguish between them as they are paid and taxed differently. Despite what you may call the individual concerned, that description is not definitive. If the status of the worker is questioned in the Employment Court or Employment Relations Authority, for example, the Employment Relations Act 2000 requires a consideration of ...
Fair Pay Agreements: Your responsibilities
Do you know what your responsibilities are if your industry or occupation is approved to begin bargaining for a Fair Pay Agreement? New fair pay agreements (FPA) law came into effect on December 1 last year, marking the biggest shakeup in New Zealand employment in decades. Six months on, how could your business be affected? What’s an FPA? The new fair pay ...