Tax

Increasing tax on high earners - effective policy or electioneering?

September 11, 2020
This week Finance Minister Grant Robertson made headlines with the announcement of the Labour Party’s 2020 Election tax policy. The key point in this policy is the reintroduction of a 39% top personal tax rate. This will apply from 1 April 2021 to those earning over $180,000 per year. We ask what this proposal is likely to achieve if (when) it is implemented. 

Important message for businesses from IRD

May 21, 2020
An article on the Herald website this morning suggested any employee working from home can ask their employer to approach Inland Revenue to organise a $15 per week tax refund. We expect this might create calls from employees and employers asking if this is true. It is not.

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.
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