Resident withholding income and tax

Resident withholding income includes interest and dividends. Generally, resident withholding tax (RWT) must be paid on it. If you're a New Zealand tax resident earning income from interest and dividends from New Zealand bank accounts and investments, you will be...

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. There have been a lot of...

What to know if you rent out your holiday home or provide services online

Do you rent out a bach on Airbnb? Do some driving on Uber? If so, there are some tax changes you need to know about. From 1 January 2024, platforms such as Uber and Airbnb will collect information from their users including sales income and IRD numbers, and are...

Interest deductibility on property investments is now being phased in with 80% allowable from 1 April 2024

As of 10 March, the coalition government has confirmed the return of interest deductibility for property investors, with the phased-in changes taking effect from the next financial year. As a result, legislation is expected to be passed allowing you to deduct 80% of...

Some common things businesses forget at tax time

Running a business is a demanding job, so it’s no wonder owners lose track of crucial things at tax time, such as: Deducting entertainment expenses Dinner and lunch meetings with clients and customers are partially tax deductible. Keep your receipts and check in with...

Minimum wage increases to $23.15 per hour

The Workplace Relations and Safety Minister has announced that the adult minimum wage will be rising to $23.15 per hour from 1 April 2024. - a 2% increase from the current hourly rate of $22.70. Brooke van Velden had initially proposed a 1.3% increase, while the...

What policy changes might affect your business?

Here are some of the changes businesses should watch for: 1. Reintroduction of 90-day employment trial periods The government has extended the availability of 90-day employment trial periods for all businesses, reversing changes made in 2018, which scrapped 90-day...

Happy New Year

Thank you for your business in 2023. For business owners, the New Year is often the time of year when you reflect on where you are at and think about your business goals for the year ahead. These could be lofty goals, or even setting out a plan to achieve some more...

What to look out for when buying a business

Buying an established business is a great way to enter into the business world, or to expand your existing business empire. But purchasing a company isn’t something to enter into lightly. Becoming the prospective owner of a new business means doing your homework,...

5 things to know when you’re applying for a home loan

Thinking of applying for a home loan? Here are some tips to help you prepare an application that’s more likely to be approved. You may need to go on a financial diet before you apply - When you apply for a mortgage, a bank will typically analyse the statements for all...
Is your Airbnb income taxable?

Is your Airbnb income taxable?

Are you renting accommodation from your home, through Airbnb or some other way? For tax purposes, short-stay or holiday accommodation is different from accommodation provided to tenants, boarders or care home residents, or student or emergency accommodation. A short...

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The true cost of a new employee

The true cost of a new employee

When you’re calculating pay rises, it’s important to think about more than just how much you can afford. You also need to consider the true cost of replacing that employee. Low pay rises can be unexpectedly expensive It’s surprisingly common for businesses to offer...

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Managing farm debt

Managing farm debt

If you’re feeling uncertain about your next year of farming, you’re not alone. Farmer confidence is low, with more than 11% of respondents to a Federated Farmers survey expecting profit to drop over the next year. Whatever your position, it’s always beneficial to talk...

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Pricing and Profit

Pricing and Profit

Price setting is complex, just as important as market awareness, product development and advertising. You could do all these things excellently and then undo it all on the price. Pricing is one of four specific factors which determine your profit and it’s one that you...

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Which employee gifts are tax exempt?

Which employee gifts are tax exempt?

Whether it’s for reaching a sales target, a birthday, Christmas or just to say thanks, sometimes you want to buy gifts for your employees. Although it’s a nice gesture, as a business owner it can be unexpectedly complex to provide staff perks. Perks like subsidised...

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Managing Tax Debt

Managing Tax Debt

It’s always important to manage your tax so that – as far as possible – you don’t owe overdue tax and you aren’t incurring penalties and interest because of it. If any of these applies to you, it’s important to act quickly and talk to us: if the due date is coming up...

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Managing Tax Debt

Managing Tax Debt

It’s always important to manage your tax so that – as far as possible – you don’t owe overdue tax and you aren’t incurring penalties and interest because of it. If any of these applies to you, it’s important to act quickly and talk to us: if the due date is coming up...

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5 goal-setting tips for 2023

5 goal-setting tips for 2023

Whether you want to grow your business or take more time for yourself, these goal-setting tips can help you achieve your long-term plans. Think big! - What do you want from your life – and how can your business help you achieve that? Think about next year and beyond;...

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