News
What’s the difference between employees and contractors?
Does your business use both employees and contractors? It's important to distinguish between them as they are paid and taxed differently. Despite what you may call the individual concerned, that description is not definitive. If the status of the worker is questioned in the Employment Court or Employment Relations Authority, for example, the Employment Relations Act 2000 requires a consideration of ...
Fair Pay Agreements: Your responsibilities
Do you know what your responsibilities are if your industry or occupation is approved to begin bargaining for a Fair Pay Agreement? New fair pay agreements (FPA) law came into effect on December 1 last year, marking the biggest shakeup in New Zealand employment in decades. Six months on, how could your business be affected? What’s an FPA? The new fair pay ...
Tax relief for adverse and emergency events
IRD Update We understand that adverse or emergency events like flooding, droughts and storms can affect how you manage your tax. It can mean you can’t pay on time or need to update your details, such as income estimates. During some events IRD may offer additional support so please check the specific events listed on this page or the Discretionary relief page. Discretionary ...
Thinking about selling a residential property?
If you’re thinking about selling a residential property, make sure you know what your tax obligations will be as you may have to pay income tax on the profit. There are different property rules that may apply, such as the bright-line property rule. The bright-line property rule looks at whether the property was acquired: on or after 27 March 2021 and sold ...
Tax toolbox for tradies
Take the stress out of tax - try out tax toolbox If you’re a tradie, or someone who helps a tradie keep on top of their books, check out Inland Revenue’s tax toolbox. The toolbox will show you: what expenses you can claim and how to keep good records what you need to do to stay on top of your income tax and GST what ...