InfoBase

Accounting & tax info, news and due dates

Check here regularly for all the latest tax information and news

Business Tax Types & What They Mean

January 31, 2018

Here is a brief description of the types of tax that you are likely to come across in business: GST – Goods and Services Tax – this is chargeable by businesses whose annual sales turnover is over $60,000 per year. It means that the seller needs to add +15% onto their sale price – this 15% is then returned to Inland Revenue on a …

Read more

Thinking of Turning Your Home Into a Rental Property?

There are a few things to consider before you jump in and make this happen. Ownership structure, tax implications and debt allocation are the main factors – if you don’t get these right from the start they can affect you negatively for several years, you could end up paying extra income tax when really there is no need to! By talking with us first, …

Read more

Rental Property – Brightline Test

Just a reminder that new property rules have come into effect from 1 October 2015 and the biggest impact is the addition of a “capital gains” tax on properties if you buy and sell within a 2 year time-frame. There is a main home exemption, however this can also fall under the new rules if you’re regularly upgrading. It is best to check with …

Read more

Do I Have To Pay Fringe Benefit Tax (FBT) On Gifts I Give To Staff?

General exemption – There is a $300 exemption per employee per quarter from paying FBT if you provide free (gifts and prizes), subsidised or discounted goods and services. However, if the value of the benefits for an employee goes over $300 for a quarter, the full value of the benefits is subject to FBT – the exemption is not deducted first. There is also …

Read more

Is Paying Wages “Under the Table” Worth It?

It can be easy to fall into the trap of paying your staff cash “under the table” instead of putting them on the payroll, less paperwork, no holiday pay, KiwiSaver and so on. However this will surely backfire for you when it comes to preparing your business and/or personal income tax return. These cash withdrawals from your business will be treated as personal drawings …

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)