Changes to NZ GST rules for low-value imported goods
Becky Zhang, CA
In an increasingly disrupted world, the laws surrounding consumer processes sometimes need to play catch up. From 1 December 2019, overseas businesses selling low-value goods to consumers in New Zealand may need to...
Questions on GST? We can help
Michelle Thompson, CA
If your turnover (sales) was more than $60,000 over the past 12 months, or if you expect your turnover in the next 12 months to be more than $60,000, you must...
Dividends and paying yourself as a director
Chris Lynch, CA
As the director in a limited company, dividend payments are the usual way for you to take money out of the company – and see a financial return on your investment into the company.
The Trusts Act 2019
Chris Lynch, CA
The Trusts Act 2019, (No 38 of 2019) received the Royal assent on 30 July 2019. The Act takes effect 18 months after 30 July 2019. This transition period will allow trustees to review their existing trusts before the Act finally becomes effective.
Your GST return is due soon
Becky Zhang, CA
You need to file your GST return at the end of every taxable period (this may be monthly, 2 monthly or 6 monthly depending on the frequency you have chosen for your business - you can check this with us).
Your income tax return
Michelle Thompson, CA
Preparing for your return. You’ll need to ensure that your business accounts for the 2019 tax year have been settled before you file your return. We can provide a guide to preparing for your income tax return, or contact us today for more information.
Pricing your product of service
NZ Budget 2019
Chris Lynch, CA
The Government delivered its first Wellbeing Budget on 30 May 2019. In line with its strong focus on social policy, the mental health sector, child wellbeing and social welfare all gained significant increases in spending.
Registered Charities carrying on activities overseas
Registered Charities carrying on activities overseas
Chris Lynch, CA
The Charities Act does not specifically deal with international charities and activities. They assess each application they receive on a case-by-case basis, based on the criteria set out in the Act.
The Tax on Capital Gains. Final Report.
Chris Lynch, CA
The TWG’s report was released on Thursday, 21st of February 2019.
It made the following key recommendations with regards to the New Zealand tax system:
Should I lease or buy my business vehicle
IRD's Mileage rates for 2018
Chris Lynch, CA
Motor vehicle expenses are generally deductible for income tax purposes, if the vehicle is used to help earn income for the business.
It is important to note that:
Not for Profits – Top Trends
Chris Lynch, CA
Why do we call “Not for Profits” by that name?
Apparently it is to distinguish them from the “For Profit” sector. I read in the recent “Cause Report” published by JB Were the statement “One of the great difficulties in discussing the not for profit sector is definitions and seemingly synonymous terms.
Schedular Payments
IRD's mileage rate increases for the 2017
Chris Lynch, CA
The IRD's mileage rates for the 2017 income year for vehicles with business travel of 5,000 or less in an income year have been set as follows:
NZ Budget 2017-2018
Chris Lynch, CA
Budget raises tax thresholds to address bracket creep.
Every taxpayer earning more than $52,000 will pay $1,060 a year or $20 a week less in tax from 1 April 2018. A taxpayer earning $22,000 will pay $560 or $11 a week less.
Tax Credits
Working from Home? Claim your home office expenses
Chris Lynch, CA
If you have a home office for your business, you should be able to claim some of the running costs. It’s important to be aware of what you can and can’t claim, and the record-keeping involved in making a claim. How does it work?