Inland Revenue Department

New ACC rates set

The ACC levies have been set by regulation for the 2019-20 and 2020-21 tax years.

cash flow

Research & Development Tax Incentive

This year the Government is working to introduce a new tax incentive for businesses conducting research and development, the research and development tax incentive  (RDTI). The RDTI will give businesses a 15% tax credit if they spend a minimum of $50,000 per year on eligible R&D. Businesses spending less than $50,000 may still be eligible, so long as they are using an approved research provider to carry out their R&D. The Taxation (Research and Development Tax Credits) Bill is about to go before Parliament for its Second Reading. If passed into law, the RDTI will take effect from the beginning of a business’s 2019/2020 income year.

Audit

Cockroft joins forces with Alliott NZ

Auckland Accountant, John Cockroft, who includes tax strategies, audit, forecasting, financial planning and funds management as part of his services, announces his merger with Alliott NZ Ltd Chartered Accountants, one of New Zealand’s Top 30 accounting firms.

alliott group

Alliott Group Q&A with Jamie Towers

Read the one thing Deputy Worldwide Chairman, Jamie Towers, can't live without and what shapes and motivates this Alliott Group mover and shaker across the Tasman.

budget

NZ Budget 2018

Analysis of this year's major Budget announcements and their likely impact on business, health, transport, the public service and the wider economy. We also take a closer look at wellbeing, which according to the Minister will underpin future Budgets starting from 2019.

cryptocurrency

Cryptocurrency - What are your tax obligations?

Inland Revenue has recently released Cryptocurrency and Tax guidance about how the tax laws apply to the new technology. The guidance includes answers to some frequently asked questions to assist customers in understanding their tax obligations.  

property

NZ Bright-line Test extension

From 29 March 2018 the bright-line test for residential property has been extended from 2 years to 5 years.

employers

Employers providing gifts to employees at Christmas

Non-monetary gifts to employees at Christmas may be unclassified fringe benefits (UFBs) and could be subject to fringe benefit tax (FBT). 

deductions

Tax treatment for leaky building remediation

NZ IRD highlight the steps to work out the type of repair and maintenance costs of the leaky building (as a rental property) and whether you can claim them as a deduction. 

accounting

Getting Business Structure Right

Learn why spending time on getting your small business structure right is just as important as the exciting times ahead as a new business startup.

budget

NZ Budget 2017: Family income and tax rates

$2 billion a year Family Incomes Package announced, commencing 1 April 2018 that will make changes to tax thresholds, Working for Families and the Accommodation Supplement to help Kiwi families get ahead. The Minister believes it is a first step towards simplifying the income tax system.

Inland Revenue Department

A better way to pay NZ tax

Tax 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.