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Tax Talk Newsletter Autumn 2022

Help for your Business during the COVID-19 Omicron Outbreak Money to keep your business running The Government has announced 3 fortnightly COVID 19 Support Payments, with the first payment opening for applications at 8am on 28 February 2022. The amount of each payment is $4,000, plus $400 for each employee (up to 50 employees). You will need to apply for each payment.To ...

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Tax Talk Newsletter Summer 2021/22

Bill passes to restrict tenancy terminations if people are required to stay at home due to a COVID-19 outbreak. The Government has passed legislation that can restrict tenancy terminations when people are required to stay at home due to public health measures. The new legislation will give landlords and tenants clarity and will help support tenants to comply with public health guidance. These ...

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Tax Talk Newsletter Spring 2021

Keep busy, keep in touch Business is booming for trades people.Many in the building industry are run off their feet. This is leading to them ignoring telephone calls and emails with the resulting customer frustration. Trade cycles mean bad times will follow good ones. The time will come again when you will not have as much work as you would wish. At these ...

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Tax Talk Newsletter Winter 2021

Know the bright line test  The last National Government introduced a so-called “bright line test” for people who sold residential property after owning it for only a short time. They said the property had to be owned for two years or the profit would be taxable. The last Labour Government increased this to five years, and increased it again – to 10 ...

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Tax Talk Newsletter Autumn 2021

Tax shakeup for business sales Proposals in the new tax Act will mean sellers of a business must notify buyers and Inland Revenue about the amounts they have allocated for various assets. If they don’t do this there will be rules about how this is to be handled. Also, Inland Revenue will be able to interfere with the figures, if it thinks the ...

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