Tax

Write off Bad Debts

February 3, 2020
As the end of the financial year looms, there’s always the prospect of paying too much tax. It doesn’t need to be this way.

Australian Tax News - New law erases tax-exempt family home

January 27, 2020
Calling all Australian ex-pats - do you still own a family home in Australia? If you are relying on the family home exemption from capital gains tax in Australia, you may need to think again. The Australian government have recently passed an Act, which puts the entire CGT exemption for your home upon sale at risk. If you bought your home before 9 May 2017 and have since become a foreign resident, you may have a significant decision to make, and soon.

Are you claiming your Christmas expenses correctly?

December 10, 2019
Are you having a staff party or celebrating with clients during the festive season? Are you buying them gifts to say thank you for a great year? We have a few tips to ensure you claim correctly.

What keeps you awake at night

September 26, 2019
The second Nexia New Zealand & BNZ ‘What keeps you awake’ series was held at Nexia House this morning. The event focused on Tax – the challenging questions and common mistakes.

Habitual Renovators Beware!

September 18, 2019
The Inland Revenue is currently seeking feedback on amendments to the land taxing rules as they apply to “habitual renovators”.  Generally, if you buy land with the intention of selling it to make a profit, you will be taxed on the proceeds of that sale.  However, there are certain exemptions that apply to the sale of land where it is used by the person as their main home, residence or business premises.

Do your clients sell goods to NZ consumers?

August 29, 2019
From 1 December 2019, the New Zealand Government has enacted new goods and services tax (GST) rules that require overseas businesses to register for, collect and return GST on low value goods sold to consumers in New Zealand.

Capital Gains Tax Review 2019

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.

Research and Development Tax Credit Regime

March 14, 2019
The New Zealand Government last year indicated its intention to implement a research and development (R&D) tax credit from the 2020 income year (from 1 April 2019 for March balance dates); a measure designed to support creating a productive, sustainable and inclusive economy. The tax credit is good news for businesses who are investing in R&D activities. Draft legislation was introduced in December last year, giving us the first look at the proposed new rules.

Update - Compulsory IRD Payday Filing

February 15, 2019
From 1st of April 2019, the payroll process will be getting streamlined for business owners and payroll teams. All businesses who pay employees or contractors will need to switch to Payday Filing.

Tax Audit Insurance - What Is It and Do I Need It?

August 3, 2018
Over the last few years there has been an increase in compliance reviews and audits from Inland Revenue or other government authorities. The roll-out of Inland Revenue’s $1.9 billion transformation project will mean that audits will be increasingly identified not by investigators poring over taxpayer accounts but by artificial intelligence, based on a comparison between an individual taxpayer’s records and those of all other relevant taxpayers.
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