On 26 August 2025, the Minister of Revenue introduced the Taxation (Annual Rates for 2025–26, Compliance Simplification, and Remedial Measures) Bill to Parliament. The Bill sets annual income tax rates and makes a series of important policy updates designed to [read more...]
Many businesses have long assumed that giving staff members Prezzy cards or similar gift cards could be treated under the Fringe Benefit Tax (FBT) rules. The thinking was that the de minimis exemption applied, meaning that if the gifts were [read more...]
It’s a common belief among business owners that registering for GST early is a smart move, a sign you’re “legit,” or a shortcut to claiming back setup costs. But GST isn’t a refund scheme. In some cases, registering too soon [read more...]
Whether you’re buying into a medical practice or starting your own, choosing the right business structure isn’t just a box to tick – it can influence everything from your tax bill to your future flexibility. And with recent changes like [read more...]
With the news in the Budget 2025 that KiwiSaver employer contribution rates are to be increased to 4% from 1 April 2026, it’s worthwhile considering how this impacts an equivalent salary calculation for comparing employees with contractors. While contractors can offer flexibility, [read more...]
If you’re operating as a sole trader in the IT industry, one of the key decisions you’ll face is whether to set yourself up as a contractor or through a company structure. Both options offer distinct benefits, depending on your [read more...]
Recently, we’ve seen clients receiving letters from Inland Revenue notifying them that their business has been selected for industry monitoring. If you receive one of these letters, there’s no need for immediate concern—this doesn’t automatically mean an audit is coming [read more...]
The holiday season can be a challenging time for cashflow, especially for businesses experiencing fluctuating sales, delayed payments, or increased expenses. Here are some strategies to keep your cashflow healthy as you enter the Christmas holiday period. Forecast your cashflow [read more...]
In the world of professional services, understanding when income is recognised, or “derived,” for tax purposes is important. We are occasionally asked by professionals if it is possible to account for their income on a “cash basis”, as this generally [read more...]
If you’re owed money and it seems unlikely you’ll ever get paid, you might be able to write off the debt to reduce your taxable income or claim back GST you’ve paid if you are on the invoice basis for [read more...]
