InfoBase
Accounting & tax info, news and due dates
Check here regularly for all the latest tax information and news
April 23, 2018
The adult minimum wage is going up from $15.75 an hour to $16.50, with the starting-out and training rates rising too. Here’s what you’ll need to know for your business. When: 1 April 2018 What: The new minimum wage rates are: Adult — $16.50 an hour Starting-out — $13.20 an hour (up from $12.60) Training — $13.20 an hour (up from $12.60) Starting-out and training minimum …
Read moreJanuary 31, 2018
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 moreIt 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 moreClients often ask which is the best way to pay themselves from their company – drawings or wages? Here is an explanation of the differences. Drawings Taking drawings from your business is not a tax deductible cost – you should be aware that you will need to put aside a bit of money for income tax as well. For example say you take $800 …
Read moreIf you are paying your employees a motor vehicle allowance as a part of their salary package this is taxed as a part of their wages. A better way would be for the employee to submit their actual expenses for reimbursement or submit a mileage claim. Both of these are non-assessable in the hands of the employee and are claimable as a tax deduction …
Read more
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.
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.
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.
Let’s chat, it’s free
For friendly, efficient accounting call us on
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.
