If you need a car to operate your business, you may wonder whether it makes more sense to purchase or lease. On the one hand, if your business owns the car you’ll have a long-term asset and may qualify for [read more...]
New legislation enacted in February substantially simplifies obligations under the provisional tax regime. Most taxpayers pay their provisional tax at three times through the course of their financial year, being the 28th day of the 5th, 9th and 13th months [read more...]
It’s that time of year again when it pays to review the entertainment rules over the Christmas season. Let’s look at the tax treatment of saying thanks to customers and staff typically with gifts, wining and dining. 50% deductible entertainment [read more...]
Property tax rules changed on the 1st of October 2015 so if you’re buying or selling residential property this information is important to you, especially if you are a property investor. A new ‘bright-line rule’, which states you’ll pay tax [read more...]
So you’re setting up a new business or thinking about changing the way your existing business is structured… do you go for the added protection that a limited liability company provides, or do you keep things simple and operate as [read more...]
Provisional tax is often a source of confusion for new business owners as well as a source for frustration for owners of existing businesses. This article gives a brief overview of some aspects of the system to help which may [read more...]
Risk and Reward Mixed Use Assets – taking note If you own a holiday home and rent this out commercially, there are new rules around how tax deductions are calculated. In order to accurately work out what these will be, [read more...]
Believe it or not, Christmas is just around the corner already, which will leave many of you thinking about how best to reward staff. It may also have crossed your mind to consider how much of the expenditure that you [read more...]
A common question that we get asked, is “what portion of my home expenses am I able to claim for tax purposes?” Where a self-employed taxpayer uses his or her home partly in furtherance of the conduct of a business, [read more...]
The IRD standard mileage rate for motor vehicles is now 77 cents per km. This rate applies to the 2012 income year. The standard mileage rate may not be acceptable where an employee’s business travel exceeds 5,000km. The reimbursement should [read more...]
