In NZ part of being in business requires you to plan for upcoming tax. In most cases once you start your second year of being profitable you need to be paying tax in advance; known as Provisional Tax. There are a variety of methods available: AIM (Accounting...
The end of financial year tends to put a spotlight on things tax. Having a clear understanding of your obligations and the different taxes you will have to pay is a must do! Some good information here from NZ Business Magazine for an overview. Need...
Do you rent out a holiday home on one of the many accommodation website platforms? (Think Air BnB and the like.) The GST rules (NZ) are changing from 1 April 2024. Even if you are not GST-registered the things you need to do are altering....
Inland Revenue have announced the mileage rates for the 2022-2023 tax year. Check out the options. Need help deciphering which rate to use for your situation? There are a number of ways of making deductions for vehicle costs in your business. Get in touch -...
Get familiar with changes already in place and more to come in 2023. Source documents still required - but less stringent rules will apply from 1 April 2023. Do you use Buyer Created Invoices - or would like to? Get more information here. And if...
Inland Revenue have just released their updated mileage rates. Check out the options here. Tier 1 rate is 83c, with Tier 2 differing depending on the vehicle type. need help deciphering? - get in touch. ...
Inland Revenue have released the rates for the 2020/2021 tax year. Details here....
31 March (for most of us) signals the end of the financial year. Time to get things ready for your accountant to help them prepare and file your 2021 tax returns. We can help: by undertaking the year end preparation in your Xero liaising with...