Paying Tax On Your Shares

Paying Tax On Your Shares

There’s been a boom in direct share investments since the lockdowns of 2020 with platforms like Sharesies, Hatch and InvestNow seeing thousands of Kiwis join up to buy shares. These straightforward platforms have democratised share market investment, helping New Zealanders grow their wealth and save for the future. One question...

15/07/2021
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Are New Zealand’s Interest Rates Set to Rise?

Are New Zealand’s Interest Rates Set to Rise?

New Zealand’s economy is running hot at the moment. This is due to New Zealander's spending more money at home and still having a strong export sector, especially the dairy industry. Growth is strong, but the pandemic is still with us and still impacting financial markets. The Government and Reserve...

07/07/2021
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I Run a Motel/Boarding House – What Can I Claim?

I Run a Motel/Boarding House – What Can I Claim?

I run a Motel/Boarding House - what can I claim? Inland Revenue have released an exposure draft on the deductibility of expenses incurred by hotels, motels and boarding houses. The release focuses on these businesses where the proprietor lives on-site. In short, the release clarifies how to account for private...

30/06/2021
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Self-Employed? Get the Full KiwiSaver Contribution

Self-Employed? Get the Full KiwiSaver Contribution

If you’re self-employed, you’re in charge of your KiwiSaver contributions. KiwiSaver is not automatically deducted from your earnings if you are self-employed. You will need to decide how much you want to commit to your retirement fund, if anything, and make these contributions manually each year. The contribution payments can...

09/06/2021
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Inland Revenue Target Real Estate Expense Claims

Inland Revenue Target Real Estate Expense Claims

Recently Inland Revenue have started a Real Estate Sector Campaign to investigate the level of expenses agents are claiming against their income. Expenses that are directly related to your business include real estate licenses, advertising and marketing, ACC, wages and accountancy. Other expenditure relating to training conferences and seminars relating...

19/05/2021
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New FBT Rate

New FBT Rate

Time to review employee perks Along with a new top tax rate introduced on April 1st, we also had a new top fringe benefit tax rate come into effect. What is fringe benefit tax? Fringe benefit tax, or FBT, is a way of taxing employee benefits. It’s designed to ensure...

14/04/2021
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Where Are Your Hard Earned Savings Ending Up?

Where Are Your Hard Earned Savings Ending Up?

Return On Investment (ROI) OCR New Zealand’s official cash rate (OCR) has been at 0.25 since March 2020 and this has reduced the return Kiwis can get on bank deposits. As bank deposit interest rates are currently very low (below 1% return) with no foreseeable increase in the next 1...

07/04/2021
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Government Announcement on Bright Line Test & other Tax Policies

Government Announcement on Bright Line Test & other Tax Policies

The Government has announced significant changes to the bright line test along with the addition of other tax policies that will have an impact on the tax obligations of residential property owners. These changes apply to properties that are acquired on or after 27 March 2021, however exemptions apply to...

23/03/2021
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Paid Parental Leave Applications Now Online

Paid Parental Leave Applications Now Online

Paid parental leave just got easier. As of March 2021, your staff can apply for paid parental leave via myIR on the Inland Revenue website. The IRD Website can now pre-populate information it already holds for customers, such as contact details, name of employer(s), and an estimate of average weekly income...

17/03/2021
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Holidays Act Changes Have Been Recommended

Holidays Act Changes Have Been Recommended

You may have read in the news over the last couple of weeks that the Holidays Act (“the Act”) has had an overhaul.  Part of this was due to the confusion over payments to staff under the Act. Many haven’t understood that under the current Act holiday pay can be...

09/03/2021
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