News
Taxpayer will save thousands of trees as paper gets scrapped
Cutting paper use and increasing digital services for Inland Revenue’s customers will see annual paper savings equivalent to 1,900 trees, or nearly 16 million sheets of A4 paper and seven million envelopes. Inland Revenue has recently introduced a new service where correspondence to its customers will be provided electronically in their myIR account as eDocuments. Inland Revenue spokesperson David Udy said the ...
TaxTalk Newsletter Apr / May 15
Do you provide accommodation & meals to employees? - New rules, effective from 1 April 2015, clarify the tax treatment of accommodation and meals you provide to employees. The rules also cover allowances paid to reimburse employees for accommodation and meal expenses. Some employers can backdate the new rules to January 2011 for accommodation and 1 April 2011 for meals, if ...
TaxTalk Newsletter Feb / Mar 15
Plan now for year-end tax - With a bit of planning, you can reduce your tax and your year-end accounts can be hassle-free. Here are a few tips. Bad debts Look through all the debts owing to you. Could any of them be considered “bad”, in other words, is it likely you won’t get paid? To classify them as bad debts, you must ...
TaxTalk Newsletter Dec 14 / Jan 15
Be Different Be Better - S had a house built for him. The builder engaged painters who did such a poor job the paint started peeling off the outside of the house after about three years. S sued the painter successfully.Meanwhile, he sought contractors to strip the paint off the outside of the house and start again. He chose his painting ...
TaxTalk Newsletter Oct / Nov 14
Crowd Funding - What is crowd funding? Crowd funding is about obtaining funds in small amounts from a large number of individuals to finance a new business venture or invest in an existing business.A business can raise up to $2 million through crowd funding each year without having to issue a prospectus or an investment statement. It can be an excellent way to ...