Our Articles

May 30, 2016
At a Pre-Budget 2016 speech in April 2016, the Prime Minister, the Rt Hon John Key, announced the release of a business tax package which includes proposals to simplify business tax. One of the proposals allows businesses to use the Accounting Income Method (AIM) to pay provisional tax through…
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April 18, 2016
IRD have a new Property sale information (IR833) form for you to include in your 2016 and future income tax returns, if you: have a taxable property sale, and show the income from the sale in the "Other income" box of their tax return.A separate IR833 should be filed for each…
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April 18, 2016
Do you ever listen to the news and find yourself thinking that the world has gone to the dogs? The rollcall of depressing headlines seems endless. But look beyond what the media calls news and there also are a lot of things going right.It's true the world faces challenges in maintaining stable and…
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April 18, 2016
It is an unfortunate reality of business that Companies fail. When this happens, it can affect a wide range of different parties and their ability to recover money they are owed.Any Company can be placed into receivership by one of its secured creditors if the Company has defaulted on its…
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April 18, 2016
Is there something wrong with this picture? You might think so.An employee came back from his holiday late. While overseas, he ran up a $23K phone bill, at the expense of his employer. He was dismissed, and later raised a personal grievance. While the ERA held that dismissal was justified, the…
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April 18, 2016
It has been highlighted in the media recently that IRD have been requesting information from NZ pension providers in respect of taxpayers who transferred their overseas pensions to NZ prior to 31 March 2014. We have also seen some IRD risk review letters asking how pension transfers have been…
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April 18, 2016
The Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters) Act 2016 has been enacted and introduces the R&D loss tax credit initiative. The Government wants to encourage business innovation and recognises that research and development is a key element in this…
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April 18, 2016
The Government has recently announced a number of proposals to simplify business tax. These are outlined in the Officials' Issues Paper Better Business Tax.One of those proposals is a new way of calculating and paying provisional tax, called the Accounting Income Method (AIM). Under AIM,…
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April 18, 2016
In New Zealand it seems we've been indoctrinated on trying to 'get the best deal' and negotiate the 'lowest possible interest rates'. We often forget that it's the overall cost of the loan or mortgage that is the most important thing to remember. Banks make money off you having your mortgage with…
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April 18, 2016
In 2015, four years ahead of schedule, ACC reached the funds milestone needed to support people who were injured before privatisation occurred in 1999. The Accident Compensation (Financial Responsibility and Transparency) Amendment Bill was passed into legislation, allowing the Minister for ACC Hon…
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April 18, 2016
Upcoming seminars:6th May we are holding a Payroll Seminar. Starting at 10am with morning tea this seminar should end around 11.30am. The seminar will cover Recent MBIE Changes and how they affect small businesses, what’s changing and what you need to do now; Holiday Pay and how to…
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March 8, 2016
The Employment Standards Legislation Bill is designed to address growing concerns with enforcement of employment standards and employee protection. A raft of changes in employment law will happen over the next 18 months and small businesses in particular are being advised to take note.Employment…
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March 8, 2016
With the 31 March 2016 year-end fast approaching it is an appropriate time to consider some long-term tax planning initiatives and undertake some short-term measures to minimise tax for the current year.THINGS TO DO:Review doubtful debts and write off any bad debts prior to balance date. Bad debts…
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March 8, 2016
New Year is a customary time to speculate. In a digital age, when past forecasts are available online, market and media professionals find it harder to hide their blushes when their financial predictions go awry. But there are ways around that.The ignominy that goes with making bold forecasts was…
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March 8, 2016
When a person passes away without a Will, the Administration Act 1969 (Act) sets out how the Estate of the deceased will be distributed.Firstly, the family (or other potential representatives) need to determine the value of the assets in the Estate. Where the value is less than $15,000 the process…
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March 8, 2016
Here are 5 key areas of focus for small to medium sized businesses.1. EmploymentIn many respects, employment law in New Zealand isn't easy and it isn't getting any easier. Businesses should ensure that they have robust, comprehensive, up to date employment agreements, supported by appropriate stand…
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March 8, 2016
Inland Revenue has received a surge of inquiries from student loan defaulters worried they could be arrested if they return to New Zealand. One man who ignored his repayment obligations contacted the Weekend Herald from Australia and said he would now be scared to return for funerals or…
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March 8, 2016
A Tauranga man who avoided paying $120,000 in PAYE, instead spending it on himself and his failed business, has been jailed.Lance Rangitawa was the director of Drivehire, a company which provided truck drivers on a casual basis. Between June 2013 and March 2015, Rangitawa failed to pay his PAYE and…
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March 8, 2016
In 2016 the IRD will be continuing their compliance focus on undeclared cash in the construction industry and hospitality sectors, building on existing educational and enforcement action.The IRD initial construction sector campaigns in early 2015 focused on the trades in Auckland. This work has been…
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March 8, 2016
A year ago, high-earning Auckland couple Stephanie and Rod* faced financial reality: despite salary increases and having no dependents, they were going nowhere. In fact, they were going backwards, says Hannah McQueen, the financial personal trainer who has helped transform them into smart money…
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