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Accounting & tax info, news and due dates

Check here regularly for all the latest tax information and news

Is Paying Wages “Under the Table” Worth It?

January 31, 2018

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 …

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Employee Vehicle Reimbursements

If 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 …

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