Real estate operators claiming private expenses, but not keeping logbooks or other business records to support a deduction, are on the IRD's radar.

The NZ Government has announced a further extension for the Small Business Cashflow (loan) Scheme (SBC).

Clarification from NZ Inland Revenue on an article that was published by the NZ Herald this month.

As we near the end of the initial four-week lockdown, the Government has released further Tax Measures to assist businesses including more complete information on what Alert Level 3 would mean. Yesterday the Government announced two further tax proposals - Tax Loss Carry Back Scheme and changes to the Tax Loss Continuity Rules.

Today the Government announced a further set of tax proposals to help businesses manage the impacts of COVID-19. You can read the Government’s full announcement and fact sheets on the Beehive website or the Inland Revenue's summary here.

Information on the remittance of use of money interest (UOMI) as a result of the COVID-19 (coronavirus) pandemic, as announced by NZ Inland Revenue.

NZ IRD will temporarily close most of their customer-facing systems while they implement the next round of transformation changes.

From 1 April 2020, payers of investment income (e.g. payers of interest and dividends) will access the register to confirm which of their customers have RWT exempt status. The IRD will no longer ask for or accept physical certificates of exemption.

New operational statement clarifies and simplifies the tax rules around employer-provided travel to distant workplaces.

From 1 March 2020 the NZ Inland Revenue will stop accepting payment by cheque, including cheques dated after 1 March 2020.

From the 2019-20 income year onward, new rules apply to deductions claimed for residential properties.

From 1 March 2020, Inland Revenue will no longer be accepting cheques if customers have an alternative payment option available. This includes post-dated cheques (cheques dated after 1 March 2020).

How to prevent and what to do if you have been a victim of identity fraud.

Chronic bad payers of tax – take heed.

NZ Inland Revenue is going to have the power to disclose tax debts to debt collectors.   

An update to help employers with the latest NZ fringe benefit tax (FBT) requirements.

NZ Inland Revenue is improving services in myIR for managing your GST, with new services available in early 2017.

In essence, providing food and wine gifts are only 50% deductible. Historically there has been ambiguity around this but as of 1 September 2016 it is definitely only 50%. (This is of particular relevance to real estate agents.)

Trustees are personally liable for the tax obligations of the trust.

If a trustee resigns as trustee of a trust they must let IRD know in writing, as soon as possible following the resignation, so IRD can update all records.

Alliott NZ welcomes the simplification of business tax changes announced by the government this week, it will be a boon for small businesses to be able to manage taxes on a pay as you go manner or, where they choose not to, use that particular method and not be exposed to the use of money interest charges that applied on miscalculating your payments.

Paid parental leave in New Zealand will increase from 16 to 18 weeks in April 2016.

To be eligible for the increase, the baby must be due or born on or after 1 April 2016.