News
Tax Talk Newsletter June / July 16
New tax rules coming - From 1 April 2017 there are going to be a number of significant tax changes. Proposals include the following: Use of Money Interest (UOMI) UOMI is a charge on higher incomes for short paid tax. Currently, if the tax on your personal income for the year is less than $50,000, after deducting all other taxes paid as you go, ...
Tax Talk Newsletter Apr / May 16
Meeting tax payments on 7 April -Payments for end-of-year income tax, student loans and overpaid Working for Families Tax Credits for the 2015 tax year are due for all customers who have an extension of time because they are on a Tax Agents list. If you are worried about meeting this deadline, check out IRD’s payment options. This March, IRD will be ...
Tax Talk Newsletter Feb / Mar 16
TPP: What it means for small businesses - Negotiations for the Trans-Pacific Partnership free trade agreement have concluded. The 12 Asia-Pacific countries involved account for 36% of the global economy – but what does it mean for your business? If you export goods/services to Asia-Pacific countries, then you’re not alone. In 2014, TPP countries were the destination for 40% of NZ’s ...
Tax Talk Newsletter Dec 15 / Jan 16
Tax on Christmas parties and presents - It’s coming up to that time of year when you might be planning a staff Christmas party. It's great for morale and a chance to mark the end of the year. But what are the tax considerations? You may be able to claim as business expenses events such as Christmas functions or giving gifts to ...
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" ...