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...]
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...]
The Inland Revenue Department (IRD) has significantly improved its data-matching capabilities following the completion of its START (Simplified Tax and Revenue Technology) program. This multi-year business transformation initiative, which cost approximately $1.5 billion and was completed in 2022, was designed [read more...]
The IRD has released a consultation document examining the tax treatment of the not-for-profit sector in New Zealand. This review could lead to significant changes in how not-for-profits are taxed, particularly those operating businesses. If you’re involved in a charity, [read more...]
The Incorporated Societies Act 2022, which came into force on 5 October 2023, modernised the legal framework for incorporated societies in New Zealand, replacing the outdated Incorporated Societies Act 1908. This new legislation introduced several key changes aimed at improving [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...]
When a settlor of a trust relocates from New Zealand to Australia, determining the trust’s tax residence becomes crucial. This process involves first reviewing the trust’s status under New Zealand and Australian domestic tax laws, followed by applying the Double [read more...]
