Withholding Tax Payers – You’re Probably Due a Refund!
26 June 2018
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
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Check here regularly for the latest accounting & tax info, news and business advice.
What’s The Difference Between GST On Payments Or Invoice Basis?
1 February 2018
There are two main methods you can prepare your GST returns based on, these are: Payments basis – This is when you prepare your GST
Using Kiwitax Offline or Online or Both
1 February 2018
Something which has become a little confusing for clients is the where / what / how of using Kiwitax. Should you use Kiwitax via the
New Tax Codes for Contractors
31 January 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.
Accounting and Tax Glossary
31 January 2018
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
Claiming GST On Secondhand Goods
31 January 2018
If you purchase secondhand goods for use in your business from someone not associated to you (eg not a family member or relative) – these
What is Provisional Tax?
31 January 2018
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
Current Income Tax Rates
31 January 2018
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%
Do I Have To Pay Fringe Benefit Tax (FBT) On Gifts I Give To Staff?
31 January 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
Is Paying Wages “Under the Table” Worth It?
31 January 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
What is Better – Drawings or Wages?
31 January 2018
Clients often ask which is the best way to pay themselves from their company – wages or drawings? Here is an explanation of the
What is a Dividend?
31 January 2018
Many people have asked us “What is a dividend?” In short, a dividend is an allocation of profits from a company to its shareholders. In
