Check here regularly for the latest accounting & tax info, news and business advice.
Inland Revenue have announced the new method for claiming mileage. The new method uses a 2-tier system and requires knowing how many total kilometres the vehicle has travelled
If you’re a self-employed contractor (for example) who has withholding tax deducted from your income then you are required by Inland Revenue to file an
Inland Revenue has recently given an update on its thinking on how Bitcoin and other cryptocurrencies should be dealt with from a tax perspective. Inland
There are two main methods you can prepare your GST returns based on, these are: Payments basis – This is when you prepare your GST
Something which has become a little confusing for clients is the where / what / how of using Kiwitax. Should you use Kiwitax via the
Accounts Payable Amounts companies owe suppliers for goods and services. Listed in the current liabilities section on the statement of financial position. Accounts Receivable Amounts
Stock on Hand is accounted for at the end of each financial year. The reason this is included is because the purchase of goods has
If you purchase secondhand goods for use in your business from someone not associated to you (eg not a family member or relative) – these
When you first go into business in New Zealand, you don’t actually have to hand over any income tax to IRD for quite some time
We often get asked what the actual tax rates are for individuals and business. These rates apply: Company Tax Rate 28% Trust Tax Rate 33%
General exemption – There is a $300 exemption per employee per quarter from paying FBT if you provide free (gifts and prizes), subsidised or discounted
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
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