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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NZ payday filing

Written by Greg Millar on February 9th, 2021. 0 comments

From 1 April, the Inland Revenue will require all employers to use the new payday filing format (version 2).

Topics: Inland Revenue Department , Payday filing, Payroll

Small business cashflow (loan) scheme changes

Written by Vanessa Williams on November 16th, 2020. 1 comments

This month the Government announced changes to the Small Business Cashflow (loan) Scheme. Our article provides you with information on these changes.

Paying Income Tax to Tax Traders vs the IRD

Written by Vanessa Williams on March 18th, 2020. 0 comments

calculator ledger-516 Since its inception, we have worked with Tax Traders to ensure that our clients achieve better outcomes than just paying tax to the IRD directly. Now that Tax Traders have no minimum use limits, we would like to highlight this to all Alliotts clients.

Resident Withholding Tax exemption register

Written by Greg Millar on March 9th, 2020. 0 comments

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.

Topics: Income , Inland Revenue Department, Investment, IRD

Prescribed interest rate decreases

Written by Greg Millar on February 10th, 2020. 0 comments

The prescribed rate used to calculate fringe benefit tax on low-interest, employment-related loans has decreased from 5.77% to 5.26% effective 1 October 2019. Our website has been updated.

Topics: employees, employers , Inland Revenue Department, loans

IRD moving on from cheque payments

Written by Greg Millar on October 21st, 2019. 2 comments

Inland Revenue is becoming increasingly digital in the way they work. Soon this will include a move away from cheques.

Research and development tax incentive

Written by Vanessa Williams on October 14th, 2019. 0 comments

Find out more about the Research and development tax incentive (RDTI), including eligibility, enrolment and recordkeeping.

NZ calling time on cheques

Written by Greg Millar on October 7th, 2019. 0 comments

From 1 March 2020, the IRD will no longer be accepting cheques, including post-dated cheques (dated after 1 March 2020) from customers who are able to use alternative payment options. We outline the various other ways to pay your tax.

New ACC rates set

Written by Greg Millar on June 4th, 2019. 0 comments

check tick-407-962 The ACC levies have been set by regulation for the 2019-20 and 2020-21 tax years.

Topics: Inland Revenue Department , tax

Payday filing from 1 April

Written by Greg Millar on February 6th, 2019. 0 comments

NZD calculator-857 It's time to shift to payday filing. Remember, by law all employers must switch to payday filing by 1 April 2019.

Topics: employees, employers , Inland Revenue Department, Payroll

Payday filing

Written by Greg Millar on December 12th, 2018. 0 comments

Remember, the law has changed so all employers must switch to payday filing by 1 April 2019.

Topics: employers , Inland Revenue Department, Payroll

Kilometre rate

Written by Vanessa Williams on August 27th, 2018. 0 comments

The Commissioner has issued a new Operational Statement 18/01 – Commissioner's statement on using a kilometre rate for business running of a motor vehicle.

Childcare providers

Written by Greg Millar on June 13th, 2018. 0 comments

Amounts have been adjusted as a consequence of the annual movement of the Consumers Price Index - please note.

Topics: balance , Income, Inland Revenue Department

Boarding service providers

Written by Vanessa Williams on June 5th, 2018. 0 comments

Amounts have been adjusted as a consequence of the annual movement of the Consumers Price Index - please note.

Topics: balance, Income , Inland Revenue Department

Tax treatment for leaky building remediation

Written by Greg Millar on November 13th, 2017. 0 comments

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.

Topics: deductions, Inland Revenue Department, property, tax

Inland Revenue Scam Alert 🚫

Written by Vanessa Williams on July 12th, 2017. 0 comments

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

Topics: Inland Revenue Department, IRD, scam, security, tax refund

Tax Finance - an efficient use of capital

Written by Greg Millar on May 11th, 2017. 0 comments

Taxes are one of life’s few certainties, but that doesn’t mean they’re necessarily the most efficient use of your capital.

Topics: Inland Revenue Department , strategy, tax pooling

A better way to pay NZ tax

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

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.

Topics: Inland Revenue Department, Penalties , tax