InfoBase

Accounting & tax info, news and due dates

Check here regularly for all the latest tax information and news

Extension To The Bright-Line Test

April 23, 2018

From 29 March 2018 the bright-line test for residential property has been extended from 2-years to 5-years. This means any Capital Gains on the sale of your Rental Property (there is a main-home exemption) will be taxed if you buy and sell within a 5 year timeframe. The extended bright-line test only applies to properties for which an agreement to purchase the property was …

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Compulsory Rental Property Insulation – Deductible or Not?

April 13, 2018

With the governments new legislation hitting in 2019 for landlords to insulate their rentals – questions have been asked whether this will be tax deductible or not. Unfortunately even though the government is forcing this rule – it doesn’t automatically translate into a tax deduction with IRD. The NZ Property Investors Federation approached Inland Revenue about this issue and this was their reply: The …

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Record Keeping – Retail and Hospitality

February 1, 2018

A reminder that if you are running a till system for your daily takings, try and reconcile each day to the money received. Inland Revenue are increasing their review activity and one of the main source documents they ask for are the till receipts. They’re looking to see if the till receipt totals are significantly different to the amount of money banked – so …

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New Calculator: Percentage Saved for Reduced Price

We’ve added a handy new calculator to the Kiwitax website. This one works out your percentage saving when buying something at a reduced price. For example if you buy something for $90 that is normally $100 then… You’ve saved $10 Paid 90% of the normal price Saved 10% Obviously it becomes more useful when the numbers aren’t so “round”. You may find it good …

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Kiwitax – CEO Business Marketing Interview

Really enjoyed chatting with Ryan about Kiwitax as part of his epic series of 100 CEO Interviews. We talked about why we started Kiwitax 16 years ago, and our values around caring for clients, how we’ve grown the business plus much more. Please do check it out! http://www.ryan.marketing/2016/01/19/kiwitax-ceo-business-marketing-interview-2-100/

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