Tax Pooling offers a flexible way to pay tax

Tax Pooling offers a flexible way to pay tax

If you’re a profitable business, you’re required to pay tax on that profit known as income tax. If your end of your tax bill is greater than $5,000, you will be required to pay provisional tax in the following year during the year. This is not a separate tax, but...
10 Tips for keeping track of business expenses

10 Tips for keeping track of business expenses

It’s surprising how small stuff adds up: dashing into the dairy on the way to work because the lunchroom’s out of milk. Scrambling out of the taxi at the airport to catch an early flight for that business meeting. Things you can forget about as you do the important...
Which capital gains are tax free?

Which capital gains are tax free?

New Zealand does not have a capital gains tax. However, some capital gains are taxable. These include the gains made on some property sales, and sometimes on the sale of shares and other assets. Rather than listing which gains are taxable, it’s simpler to tell you...
Rental tax changes are about to kick in – be ready

Rental tax changes are about to kick in – be ready

Earlier this year, the Government announced the removal of tax deductions on loan interest for rental properties. Previously, interest payments could be claimed as a business expense and taxed accordingly, giving property investment a tax advantage. Now, properties...
Residential Property – the bright-line test and tax

Residential Property – the bright-line test and tax

Property investors come in all shapes and sizes, from large scale professional operations and developers to so-called ‘Mum and Dad’ investors who wanted to save for their retirement with something they could feel was literally safe as houses. Changes to tax rules for...
Property and Tax update

Property and Tax update

On 23 March 2021, changes to tax rules for investment properties took investors by surprise. There has been widespread commentary with more to come as the detail unfolds. In overview: The bright-line test has been extended from 5 to 10 years for properties purchased...