Tag: provisional tax
New top tax rate for trusts – what does it mean for you?
Budget 2023 contained a few surprises, but the change to the tax trust rate wasn’t one of them. Being hinted at a few times, Grant Robertson lifted the tax trust rate from 33% to 39%, bringing it into alignment with the top personal income tax rate. This change is from...
The ‘No frills’ 2023 budget – What does it mean for you?
What’s in this Budget for the Kiwi business owner? From trust taxes to apprenticeships, to avoiding a recession, we look at the items most likely to impact you. How will the latest Budget affect your business and your household? Here are some of the changes most likely to have an...
Managing Farm Debt – Budgeting, Forecasting & Planning
If you’re feeling uncertain about your next year of farming, you’re not alone. Farmer confidence is low, with more than 11% of respondents to a Federated Farmers survey expecting profit to drop over the next year. How you handle cash flow is important to suppliers and lenders, so even if...
Provisional Tax: What You Need To Know
What is Provisional Tax? Provisional tax is income tax paid in advance of the end of the financial year, or paid as you go. And, it’s important to get it right. We’ll help work out what’s best for you and your business. If you are an employee, your employer sorts...
New Zealand Tenancy Laws Are Changing
New legislation in NZ Tenancy Law brings in a number of changes for landlords and tenants. Below are some of the changes: Increasing Rent - From 12 August 2020, rent increases are limited to once every 12 months. This is a change from once every six months. Required Notice Periods...
How does NZ Provisional Tax work?
Did you pay more than $5,000.00 in Terminal Tax with your last income tax return? If so, you may have to pay Provisional Tax for the following year. This is due to the threshold that triggers Provisional Tax requirements, which is currently set at $5,000. Provisional Tax is like...