Our Articles

July 26, 2016
This is a lengthy update as there's much to cover – however, the update only highlights key features of the new regime. The Health and Safety at Work Act (HSWA) came into force on 4th April 2016. There are also various regulations. Everyone carrying on a business or undertaking (PCBUs) is under…
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July 26, 2016
New Zealanders are being warned about a spate of scam phone callers saying they are from Inland Revenue and trying to recover unpaid taxes. Inland Revenue has received notification of the scam calls from more than 500 customers all over the country, with the first report on Tuesday (14th June)…
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July 26, 2016
IRD ideas on what tax may look like for small businesses in futureWe’re transforming to make it faster and easier for New Zealanders and businesses to pay the tax and receive the entitlements they should. As part of our transformation, we’ve created an easy-to-use website called Changing for…
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July 26, 2016
Identity theft is using the identity information of another person to pretend to be them. This can have serious impacts on people’s lives, if they are no longer able to prove who they are. When we talk about identity theft, identity means the facts about you that the government and businesses use…
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July 26, 2016
Key information about some of the new changes: Smoke Alarms From 1 July landlords will need to have working smoke alarms installed in all their residential rental homes. Any replacement alarms installed after that date will need to have long life batteries and a photoelectric sensor. Hardwired…
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July 25, 2016
We come across quite regularly clients that are New Zealand tax residents have not informed us that they have overseas investments or a foreign financial interest. A common misconception is that overseas investments & income do not need to be included in New Zealand tax returns. As well as…
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May 30, 2016
Tax cuts may be a while away Ministerial statement “When it is affordable, and when economic conditions permit, the Government would like to lower income taxes with a focus on lower and middle income earners who have faced fiscal drag as their incomes continue to rise. However, reducing debt is…
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May 30, 2016
Have you ever heard choristers sing melodies independently of each other? 'Polyphonic' music (Handel's 'Messiah' is an example) can be a challenging listen, but its depth and variation offers subtle rewards. Global markets are a bit like that. Like listening to a single melody, focusing on the…
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May 30, 2016
The Property (Relationships) Act 1976 (“The Act”) provides an equal sharing presumption to relationship property for qualifying relationships. Qualifying relationships are marriages, civil unions or de facto relationships that are a minimum of three years in duration. Section 2D of the Act defines a…
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May 30, 2016
We all know the adverts that promise the world, only to find that buried in tiny print at the bottom or at the end, there’s a “BUT”. Even worse, there are the advertisements or offers that are blatantly misleading, if not dishonest. Then there are advertisements that require you to opt out of a…
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May 30, 2016
Inland Revenue has recently updated its mileage rates for expenditure incurred for the business use of a motor vehicle and use-of-money interest rates. Mileage rates A recent review of the Commissioner's mileage rate has resulted in a reduction to the 2016 income tax year rate. The new rate has…
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May 30, 2016
If you are a trustee of a trust this information applies to you. Trustees are personally liable for the tax obligations of the trust. If you resign as a trustee, IRD must receive this in writing, as soon as possible following the resignation, so they can update their records. If you resign…
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May 30, 2016
The Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Act 2016 received Royal Assent on Friday 13 May 2016. From 1 July 2016 this introduces a requirement to have residential land withholding tax (RLWT) withheld from a sale/disposal of residential land where:…
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May 30, 2016
There are many differences between contractors and employees that affect the rights and obligations of the business and the worker. Note: Don’t get it wrong as it may cost you, To make the correct decision you must focus on the real nature of the working relationship not just the label the…
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May 30, 2016
At a Pre-Budget 2016 speech in April 2016, the Prime Minister, the Rt Hon John Key, announced the release of a business tax package which includes proposals to simplify business tax. One of the proposals allows businesses to use the Accounting Income Method (AIM) to pay provisional tax through…
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April 18, 2016
IRD have a new Property sale information (IR833) form for you to include in your 2016 and future income tax returns, if you: have a taxable property sale, and show the income from the sale in the "Other income" box of their tax return.A separate IR833 should be filed for each…
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April 18, 2016
Do you ever listen to the news and find yourself thinking that the world has gone to the dogs? The rollcall of depressing headlines seems endless. But look beyond what the media calls news and there also are a lot of things going right.It's true the world faces challenges in maintaining stable and…
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April 18, 2016
It is an unfortunate reality of business that Companies fail. When this happens, it can affect a wide range of different parties and their ability to recover money they are owed.Any Company can be placed into receivership by one of its secured creditors if the Company has defaulted on its…
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April 18, 2016
Is there something wrong with this picture? You might think so.An employee came back from his holiday late. While overseas, he ran up a $23K phone bill, at the expense of his employer. He was dismissed, and later raised a personal grievance. While the ERA held that dismissal was justified, the…
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April 18, 2016
It has been highlighted in the media recently that IRD have been requesting information from NZ pension providers in respect of taxpayers who transferred their overseas pensions to NZ prior to 31 March 2014. We have also seen some IRD risk review letters asking how pension transfers have been…
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