InfoBase

Accounting & tax info, news and due dates

Check here regularly for all the latest tax information and news

Just Started As A Contractor – How Much Should I Save For Tax?

January 31, 2018

Question: I have just started work and my employer has informed me I am responsible for paying my own tax. Does this require me to put away 20% of my wages? What are my tax responsibilities? Answer: In this case you’re effectively a self employed contractor – not an employee, so this means you’ll need to put aside some of your gross income to …

Read more

Vehicle Ownership Vs Leasing – A Brief Overview

The benefits of leasing a vehicle are: Get to claim the lease as a monthly expense. May have an upgrade option after a certain period with keeping the lease payments roughly the same. Still get to claim running costs – e.g petrol, repairs, registration etc. The disadvantages of leasing are: Paying monthly payments for a vehicle you usually won’t own at the end of …

Read more

How Can I Pay Myself From My Business?

There are a couple of ways to pay owners of a business and to account for the income tax on these. The most common way is the owner taking drawings – drawings are withdrawals from the business for personal use. The alternative is wages – the owner will become an employee of the business and PAYE will be deducted each payday like any other …

Read more

First Year in Business Do I Pay Income Tax?

A common myth people often share is that “you don’t have to pay income tax for the first year in business”. The fact is any profit earned will require income tax to be paid to Inland Revenue, it’s more a case of when you have to pay. In the first year of trading you don’t make any income tax payments to IRD. After the …

Read more

End of Financial Year – A Quick To Do List

With the end of the financial year coming up (on 31 March) now’s a good time to do a bit of preparation work towards having your annual financial reports and tax returns prepared. By doing these few things now it can save a lot of back tracking later. Over the next week or so please take action with… Debtors – make a list of …

Read more

Kiwitax | Stress-free accounting, Let's Chat

Stress-free accounting

Plain English communications, easy friendly systems, helpful people, unlimited free advice, IRD and ACC help Working efficiently ensures reasonable and accountable pricing with zero hidden cost.

Kiwitax | Easy IRD

Easy IRD

Consistently a professional, efficient service. Working with IRD becomes easy. Have your tax returns filed on time and know of any payments and when. Less IRD noise.

Kiwitax | Members of Accountants + Tax Agents Institute of New Zealand (ATAINZ) and Chartered Accountants of Australia & New Zealand (CA ANZ)

Professional team

Members of Accountants + Tax Agents Institute of New Zealand (ATAINZ) and Chartered Accountants of Australia & New Zealand (CA ANZ) ensures professional ethical service.

100% Satisfaction Guaranteed

Kiwitax services are 100% satisfaction guaranteed. If you’re not completely satisfied with our service please tell us. If we cannot put things right to your satisfaction we will provide a full refund. As a genuinely client focused business with many very happy clients we’re positive Kiwitax services will meet your expectations.

Kiwitax | MYOB Dimond Partner
Kiwitax | Members of Accountants + Tax Agents Institute of New Zealand (ATAINZ) and Chartered Accountants of Australia & New Zealand (CA ANZ)