News
The Families Package - what does it mean for your employees?
The Families Package - what does it mean for your employees? The Families Package is a collection of changes aimed at assisting New Zealand families and helping children get the best start in life. These changes come into effect on 1 July 2018. The Families Package includes a number of changes: the introduction of the Best Start tax credit, and the expansion of ...
Bright-line Property Rule has changed
The bright-line rule changed on 29 March 2018. This rule applies to residential property only. To make informing you easy, we’ve created a bright-line web page for people who buy, sell or transfer property. Please share this link with people who may be interested: ird.govt.nz/brightline. You can also use the information on this webpage to create content for your client communication channels, like ...
Tax Talk Newsletter Autumn 2018
Get organised for annual accounts - The 31st of March is rapidly approaching. Now is a good time to think about getting organised for your annual accounts to minimise hassles. The following comments are based on a 31 March balance date. If yours is different, please adjust accordingly. If you have bad debts, write them off before you get to 31 March or ...
Sale and purchase of a business – common tax issues
When buying or selling a business, tax is treated differently depending on whether the sale is an assets sale or a share sale. There are often tax implications if either party gets it wrong, so it's best to talk early with a professional tax advisor to make sure you get it right. The information here is a high level overview ...
Pay-as-you-earn tax, with help from your accounting software
From April 2018, small businesses, sole traders and contractors can choose a new pay-as-you-earn option, rather than paying provisional tax in instalments several times a year. This signals a shift in focus for accountants, freeing them up to help clients make good decisions about their finances and future direction. What's new What: Inland Revenue is introducing the Accounting Income Method (AIM) so your ...