News
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 ...
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 ...
Laws that changed in 2017
From contractors’ tax to Easter trading, hazardous substances to ACC levy changes and more, it’s been a big year for business-related law changes. Here’s a summary — check it out to make sure you are across any new rules that apply to you. Each law change section has links to more information. Minimum wage rates rise When: 1 April 2017 What: The adult ...
Claiming expenses when away on business
You can claim for lots of daily expenses when you’re travelling for work. If you take a holiday as part of the same trip, you can only claim for the parts of the trip that were work-related. What you can claim In general, when you’re away from home you can claim for: flights taxis, or mileage if you use your own car for business ...