News
Compliance strengthened for property speculation
Inland Revenue is to gain greater oversight of land transfer information to ensure those buying and selling properties are complying with tax rules on property speculation. Cabinet has agreed to implement recommendation 99 of the Tax Working Group’s (TWG) final report. It will require most people who buy and sell properties to supply their IRD number on land transfer documentation. Revenue Minister ...
What's the future for cash in New Zealand?
If cash becomes less accepted and available as a means of payment, then the Reserve Bank says that New Zealanders who are already left out of the banking or digital worlds may be severely disadvantaged. That prospect is one of five key issues in a paper on the Future of Cash Use published by the Bank on its website today. “We see ...
New ACC levies set
The ACC levies have been set by regulation for the 2019-20 and 2020-21 tax years. For both tax years the earners’ levy remains the same at $1.39 (GST-incl) per $100 liable earnings. The minimum liable earnings for self-employed workers increases from $32,760 to $34,320. The maximum liable earnings will increase for: self-employed people from $124,053 to $128,470 in the 2019-20 tax year, and ...
Minimum wage rises by $1.20 on 1 April 2019
The minimum wage is going up from $16.50 to $17.70 per hour. Here’s what you’ll need to know for your business. Minimum wage rises When: 1 April 2019 What: The new minimum wage rates, before tax, are: • Adult — $17.70 an hour • Starting-out — $14.16 an hour (up from $13.20) • Training — $14.16 an hour (up from $13.20) Read our page on minimum pay ...
Expert tips for starting a business
There’s no magic formula for starting a successful small business, but the better your decisions early on, the better your chances. We’ve asked experts for their tips. Starting out People start their own businesses for various reasons, and everyone sets out to succeed. But even with dedication and the best of intentions, the majority of new businesses still don't make it past the ...