New Tax Codes for Contractors

February 1, 2018

From 1 April 2017, if you are hiring any contractors that are required to have withholding tax deducted, or are a contractor yourself the IRD have issued a new form to be filled in from April 2017 onwards.

What is Provisional Tax?

January 31, 2018

When you first go into business you don’t actually have to hand over any income tax to IRD for quite some time (unless you are going to be earning over $208K in profit for your first year – then different rules apply). So say your first financial year will end at the 31 March 2018 – then your financial accounts and returns are prepared …

Just Started As A Contractor – How Much Should I Save For Tax?

Question: I have just started work and my employer has informed me I am responsible for paying my own tax. Does this require me to put away 20{2d462ac3e8ea48677487b2fb388b4f9e8d0e1c4acbf8d3cf238d9a6a6388f96f} of my wages? What are my tax responsibilities? Answer: In this case you’re effectively a self employed contractor – not an employee, so this means you’ll need to put aside some of your gross income to …

How Do I Become Self Employed?

How Do I Become Self Employed? New Zealand is one of the easiest countries in which to start a business. It’s really as simple as finding something which will generate profit and going for it – well almost. Here’s a quick guide for people who are currently in employment and are curious about becoming self-employed or those who are looking for work and perhaps …