News
TaxTalk Newsletter Oct / Nov 15
Cash deals aren’t tax-free income - The government uses taxpayers' money to pay for services we all need, such as healthcare, education, environmental protection and recreation. While most people pay the right amount of tax, IRD knows some people think they don't have to pay tax if they're paid in cash. By not declaring all their income, people who do un-taxed "cashies" ...
TaxTalk Newsletter Aug / Sep 15
What employers need to know about KiwiSaver - As an employer, you play an important role in helping your employees save for their retirement. There are some things you must do and some things you should keep in mind about KiwiSaver for your employees. All employers must: offer KiwiSaver to all their employees who meet the eligibility rules give a copy of the ‘Your ...
TaxTalk Newsletter Jun / Jul 15
Budget 2015 - Extra property tax measures - The Government is taking extra steps to bolster the tax rules on property transactions – including those by overseas buyers - and to help Inland Revenue enforce them. The 2015 Budget confirms that, from 1 October this year, the following will be required when any property is bought or sold: All non-residents and New Zealanders ...
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 ...