News
IRD's Construction industry campaign
IRD's Construction industry campaign IRD is undertaking a construction industry education campaign. The purpose of the campaign is to engage with those in the construction industry to ensure they’re ‘getting it right from the start’ and support them in understanding their tax obligations if they undertake cash transactions. IRD’s customer research indicates that people are more likely to engage in hidden economy ...
Bereavement leave updates
Bereavement leave It is always a difficult time after a loved one dies, which is why there are set entitlements for staff to take bereavement leave. Employees are also entitled to bereavement leave if they have a miscarriage or stillbirth – and, in some circumstances, if they’re directly affected by another person’s miscarriage or stillbirth. If you want to offer more than the ...
COVID-19: Vaccination information for employers
COVID-19 vaccinations and your workers See what you can and can’t do when it comes to COVID-19 vaccinations and your workers. The business benefits of vaccination Covid-19 has created huge challenges for business owners. See the latest information on the vaccine, its rollout, and what you can do to help make it effective. As a business owner you know that a community resurgence of ...
Managing your working capital
Managing your working capital Getting your head around key numbers, like your working capital, can help you spot risks and know when you’re in a financial position to jump on an opportunity. Find out more. What is working capital? Working capital is the money your business uses for day-to-day operations. It’s those assets that can easily be turned into cash (eg stock), minus ...
Watch videos on Cartel Criminalization
Cartel criminalisation New law means that from April 2021 cartel conduct could be punished with up to 7 years' imprisonment. Watch these videos here: https://comcom.govt.nz/business/avoiding-anti-competitive-behaviour/what-is-cartel-criminalisation What is a cartel? A cartel is where two or more businesses agree not to compete with each other. This conduct can take many forms, including price fixing, allocating markets, rigging bids or restricting output of goods and services. See ...
The minimum wage is increasing on 1 April 2021
As a business owner or manager, you need to be ready for the increase in minimum wage rates from Thursday,1 April 2021. The adult minimum wage will go up, from $18.90 to $20.00 gross per hour, and the starting-out and training minimum wage will go up from $15.12 to $16.00 gross per hour. Employment New Zealand has information to help you prepare.If ...
$5,000 Asset threshold to expire on 16th March 2021
Last Year the Government passed legislation that temporarily increased the low-value asset threshold for depreciation from $500 to $5,000. This will allow you to deduct the full cost of your business assets with a value of less than $5,000 in the year they purchased them. This is instead of having to spread the cost over the life of the asset. The ...
2019/2020 Kilometre rates now finalised
The 2019/2020 kilometre rates are now published on IRD’s website. See here: https://www.ird.govt.nz/updates/news-folder/finalised-kilometre-rates-2019-2020 Source: www.ird.govt.nz ...
COVID-19 Short-Term Absence Payment now available
On 8 February 2020 the Government announced a new COVID-19 Short-Term Absence Payment (STAP) to support employers and self-employed workers. The STAP is available from 9 February 2020, through Work and Income, to employers for employees, and self-employed workers, who: need to miss work to stay at home while waiting on a COVID-19 test result, and cannot work from home. The STAP ...
The Holidays Act 2003 - reduce your risk of non-compliance
(Published on behalf of Employment New Zealand)As we start the New Year, now is an ideal time to review and ensure your payroll systems and processes are up to date and reduce your risk of non-compliance with the Holidays Act 2003 (The Act). Employment New Zealand has free resources to help you comply with the Act. Common issues for businesses include: Strategic ...