Latest News

Inland Revenue to Clamp Down on Top Tax Rate Avoidance Mar 21, 2022

In 2021, Inland Revenue increased the top tax rate to 39%. That rate is higher than both the 28% tax rate for companies and the 33% tax rate for trusts.

The new tax rate concerns Inland Revenue, because it doesn’t want people to use companies and trusts to avoid paying tax at the highest...

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A Guide to Claiming Festive Functions, Events and Entertainment Dec 11, 2021

How to enjoy all the bells and whistles without the tax headache

Parties are part of the festive fun but they can cost a small fortune.

Here’s a list of the rules around entertainment expenses so you know what’s deductible and non-deductible before you fork out for your staff,...

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A Guide to Gifts for your Clients and Employees Dec 06, 2021

The rule of thumb with gifts is that if they consist of food or drink, you can only claim 50% of the expense as a tax deduction.

If you are giving out gift baskets or hampers and some of the contents are food or drink, but not all, the food or drink items are 50% deductible but the other gift...

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Cashflow Tips for the Holiday Period Dec 01, 2021

Depending on your industry, the holiday period can be a slow time of year for business. Despite a dip in cashflow you still need to meet your expenses.

Ensure your bases are covered before you clock off for the year.

1. Plan ahead

Update (or create) a budget to figure out how just much you are...

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How are cryptocurrencies taxed in New Zealand? Sep 13, 2021

Around one in five Kiwis is either invested in cryptocurrency or plans to invest, according to a survey by the Financial Services Council.

With so many of us jumping into cryptoassets, it’s helpful to understand what our tax obligations are.

Last year Inland Revenue updated its guidance on...

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Worried about your Provisional Tax Payment? Aug 26, 2021

A reminder about Provisional Tax due 28 August for many clients.

We understand that New Zealand’s move to Alert Level 4 may have put some additional pressure on your cashflow and you may be worried about how you are going to meet this payment obligation.

Here are some payment options...

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Fees on Utes: Three Things you should Know Jul 18, 2021

Plenty of Kiwi businesses buy utes as company vehicles. If you’re in the trades, for instance, a ute can be the perfect way to haul everything around and promote your brand at the same time.

However, the recently announced EV feebate scheme is likely to hit ute buyers the hardest, since...

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Provisional Tax Payment Options May 01, 2021

A reminder about Provisional Tax due 7 May for many clients.

Here are some payment options available to you:

Pay full amount due – Have funds put aside and can pay now

When you receive the tax payment letter from us:

  1. Log in to your internet banking and select tax payment
  2. Choose INC Income...
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