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The Business Advisory Blog

Welcome to our blog

Insight, news and updates from Alliott NZ Chartered Accountants, Auckland New Zealand. The views expressed here are the views of the author and should be discussed in further detail should an article be relevant to your individual circumstances.

While every effort has been made to provide valuable, useful information in this publication, this firm and any related suppliers or associated companies accept no responsibility or any form of liability from reliance upon or use of its contents.  Any suggestions should be considered carefully within your own particular circumstances, as they are intended as general information only.

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A better way to pay NZ tax

Posted by Greg Millar on March 24th, 2017.      0 comments

TT HORIZ BLACK BLACKX-932Tax pooling is a framework Inland Revenue established to help taxpayers meet their provisional tax obligations. Recognising that the provisional tax regime is burdensome, Inland Revenue offers tax pooling which gives taxpayers a means to pay tax when they want to whilst avoiding use of money interest and penalties.

The Trump Presidency: What are the prospects for tax reform in 2017?

Posted by Greg Millar on February 7th, 2017.      0 comments

alliott group trump thumbnail-119President Trump's aggressive tax reforms may not take effect until 2018.

Alliott Group member firm Bowman & Company explains why and what this could mean for global trade.

Topics: economy , tax

E-Sign for Xero Tax

Posted by Rose McNair on January 24th, 2017.      0 comments

xero-gold-partner-logo-hires-RGB-382Xero is taking one step more to make filing returns a breeze- with new E-Sign feature. We outline how.

Topics: tax, Xero

Chronic bad payers of NZ tax – beware

Posted by Greg Millar on January 23rd, 2017.      0 comments

stress2-706Chronic bad payers of tax – take heed.

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

Topics: IRD , late payers, tax

Deducting expenditure on gifts of food and drink

Posted by Anthony McIlroy on October 6th, 2016.      0 comments

after party-644-414In 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.)


The wide world of international tax

Posted by Greg Millar on August 18th, 2016.      0 comments

small world-375Where are the highest rates of corporate tax? And who pays none at all?

Discover what the French spend their “Google Tax” on and why Canadian cereal companies are so keen to put toys in their boxes.

Topics: tax

NZ Residential Land Withholding Tax

Posted by Greg Millar on August 5th, 2016.      0 comments

loan-730We take a look at the IRD documentation requirements and how the rules may apply in unexpected situations as a result of the definition of “offshore RLWT” person".


New Zealand Budget 2016

Posted by Greg Millar on May 27th, 2016.      0 comments

logo-budget2016-lrg-416Overall ​the outlook for the economy is positive and the Crown’s books are in good shape, but what are the announcements on New Zealand tax? We summarise the key issues for you.
Topics: budget, economy , tax

NZ motor vehicle rate drops from 74c to 72c per km

Posted by Anthony McIlroy on May 20th, 2016.      0 comments

odometer-550 A recent review of the Commissioner’s mileage rate results in a reduction to the rate to 72 cents per kilometre for both petrol and diesel fuel vehicles for the 2016 income year.  

Alliott NZ farewells Emma Clare in April!

Posted by Vanessa Williams on April 19th, 2016.      0 comments

Emma Clare-542After 17 years, it is with best wishes that we farewell Alliotts Manager and Chartered Accountant Emma Clare as she embarks on new career opportunities. 

Got GST to claim for a period you've already filed a return for?

Posted by Vanessa Williams on March 7th, 2016.      0 comments

GST-274 The Inland Revenue have recently reiterated their communication on this topic and recommended any GST input claims be processed in the next GST return to be filed.
Topics: deductions , Gst, tax

Resigning as a NZ trustee

Posted by Anthony McIlroy on February 11th, 2016.      0 comments

trust-599If you are a trustee of a trust this information applies to you.

IRD stated that it would continue to hold a resigned trustee responsible for a trust’s taxes until it receives written advice of the resignation. This liability continues until any debt is paid.

Which hat are you wearing?

Posted by Michael Beech on November 10th, 2015.      0 comments

Michael Beech CFA-841-571People with many hats require many different investment solutions. In our opinion, that's a good thing.

Loss grouping for companies with 66% or more common shareholding

Posted by Greg Millar on November 6th, 2015.      0 comments

pie-chart-153903 1280-162-755Companies having 66% or more common shareholding can be grouped for tax purposes.

We briefly outline how it works.


Bright line test

Posted by Anthony McIlroy on October 21st, 2015.      0 comments

light bulb-66-166There have been numerous webinars and newsletters about the new rules for taxing residential property sold within two years of acquisition, but there are some particular things to note. We sort the wheat from the chaff.

“Just be honest mate and pay your tax,” say tradies

Posted by Greg Millar on September 30th, 2015.      0 comments

we understand tradies-980Survey of Auckland tradespeople shows an Inland Revenue campaign highlighting cash jobs has hit home, with four in five believing they’ll get caught if they cheat on their taxes.

The survey of nearly 420 tradies shows that the message that doing under-the-table jobs is a tax crime is getting through.



New rules relating to property from 1 Oct 2015

Posted by Greg Millar on September 4th, 2015.      0 comments

house hands-626The main feature of this Bill is the proposed new objective bright-line test for land sales which will impose income tax on any gains from residential property acquired and disposed of within two years.  An exception is provided where the disposal is of a person’s “main home” as defined.  The bill essentially follows the proposal in the issues paper with some refinement based on submissions.

Vehicle mileage rate change

Posted by Greg Millar on September 3rd, 2015.      0 comments

odometer-550Update to calculating your vehicle mileage for tax.

Whilst those who have filed their 2015 tax return are covered, it's useful getting up to date with the rate change nonetheless.
Topics: mileage rates, tax

Accounting can be sexy!

Posted by Vanessa Williams on August 24th, 2015.      0 comments

ipad outside screen-253If you're running a small business and doing the books, we find there are typically four key questions business owners want to know that need answering on a regular and accurate basis.

Is your accounting system up to the task, or do you continually play catch up trying to make sense of all the data you're crunching, often when it's too late to use it meaningfully?

Planning for provisional tax

Posted by Greg Millar on August 10th, 2015.      0 comments

NZD calculator-857Provisional tax is a way of paying your income tax as you receive income through the year.

You pay instalments of income tax during the year, based on what you expect your tax bill to be. The amount of provisional tax you’ve paid is then deducted from your tax bill at the end of the year.