August 19, 2020
The tourism sector has been hard hit by COVID-19, and owners of Airbnb’s and other short-term accommodation are no exception. While it is true that no GST needs to be accounted for on the residential rental income received, there is a larger concern, being the deemed cessation of the person’s GST taxable activity. Where a person ceases their GST activity (that is, they won’t be making any GST taxable sales or supplies for the foreseeable future) there is a deemed disposal at market value of all the assets used in the taxable activity.
March 19, 2019
After months of deliberations, public consultation and an interim report, the Tax Working Group (TWG) last month delivered its final report. Our Tax Director Maggie Jaques provides her review of how the potential impending changes will affect you.
November 21, 2017
Andrew Kidd, Associate. Andrew has 8 years’ experience at Nexia Chartered Accountants, working with a variety of clients across multiple industries which include Medical Practitioners & Property Investors. His diverse client base allows him to apply his knowledge across varying client scenarios. He particularly enjoys working with clients to assist them in fully understanding not only their tax obligations, but also what the numbers mean.
November 16, 2017
Do you hate it when GST return time rolls around? If so, you’re in good company. For many business owners, the pain isn’t so much having to hand money over to IRD, but having to prepare and file a return. But that pain is easy to avoid. Here’s how: If we complete your returns, of course everything will be done for you If you still file your returns manually – register for a myIR account here. If you are GST registered...
November 16, 2017
With the approach of the Festive Season, the Partners and staff at Nexia would like to extend a very Merry Christmas to you and your family and our best wishes for a New Year filled with health, happiness and prosperity. We are looking forward to working with you in 2018. Our office will be closed from 12noon on Friday, 22 December 2017 and will re-open at 8:00am on Thursday, 11 January 2018. January 2018 GST If your GST is due on...
June 3, 2016
Making tax simpler In April, the Government announced proposals to simplify business tax, with legislation to be passed in August this year. They asked for feedback by end May on the best way to implement these proposals. The earliest of the changes would take effect from April 2017, with more coming online in 2018. At the moment, this would change the tax landscape to look something like this: From 1 April 2017 Use of money interest Hundreds of thousands of taxpayers...