News
Entertainment expenditure - gifts of food and drink
The entertainment expenditure rules in subpart DD of the Income Tax Act 2007 limit tax deductions for certain types of expenditure to half the deduction normally available. One type of expenditure covered (with exemptions) is expenditure on providing food and drink off business premises. This means that spending on things like chocolates or a bottle of wine to give as gifts to ...
TaxTalk Newsletter Aug / Sep 16
Phone Phishing Scam - Over the past two weeks Inland Revenue has received reports of a telephone phishing scam from several hundred customers around New Zealand. The scam calls have been made to landlines and mobile phones, with messages being left on voicemail if the calls haven’t been answered. The callers state that they are from the Inland Revenue Department and the following ...
4 steps to get your growth moving
Helping New Zealand’s small businesses grow would benefit our economy — but many lack the time, confidence or both to set their sights higher. Andrew Hamilton, chief executive of The Icehouse, offers his tips. Kiwi business owners are the heroes of our economy. We know small business owners and operators tend not to sit back and relax — running a small ...
Tax Talk Newsletter June / July 16
New tax rules coming - From 1 April 2017 there are going to be a number of significant tax changes. Proposals include the following: Use of Money Interest (UOMI) UOMI is a charge on higher incomes for short paid tax. Currently, if the tax on your personal income for the year is less than $50,000, after deducting all other taxes paid as you go, ...
Keeping track of key metrics
Monitoring your key performance indicators, numbers and metrics are an important part of running a successful business. It’s not all about measuring profit and loss either. You don’t need to get caught up in the figures, but knowing which metrics to follow, and why, will help you spot problems and keep track of how you’re growing. There isn’t a “one size fits ...