Accounting and Tax

Court case – tax avoidance arrangement

While all taxpayers are entitled to arrange their affairs in a tax efficient manner, tax should not be the main motive for a transaction with no commercial substance. Two recent (connected) cases at the Taxation Review Authority demonstrate why.

Tax Working Group – no major changes for NZ taxes

The Tax Working Group (TWG) released its long-awaited Final Report (the Report) on 21 February 2019, following a 13-month review during which the Group received over 7,000 public submissions. 

Turn rental loss into profit and save tax

As you will probably know, 31 March 2019 (or equivalent balance date) is the last year you will be able to offset losses on rental properties against other income.

Can the spam with a new email address

Whenever you sign up to a subscription service or buy something online, it’s likely you’ll be put on a mailing list – whether you like it or not.

If you want to succeed in business, understand that Cash is King

Your business can’t survive without cash. In business, cash is king.  The following six take aways are essential for business success:

Deductibility of bad debts

Many of the costs associated with running a business can be claimed as a tax-deductible expense, but not all. The Income Tax Act dictates that to be deductible, expenses must be incurred in the course of deriving assessable income, or in running a business.

Payday filing becoming compulsory

The way employers report payroll information to Inland Revenue (IRD) is changing. From 1 April 2018, IRD introduced a new electronic reporting system, providing employers the option of filing payroll information every payday. 

Tax Working Group Interim Report

The Labour Government established the Tax Working Group (the Group) in January 2018 to review the existing New Zealand tax framework and to provide recommendations for improvements to the fairness, balance and structure of the tax system over the next 10 years. 

Daisy Jake Hairdressing | Styling hair and growing business a hand in hand success

After being a hairdresser for 24 years, winning numerous awards, managing a large hair salon with 27 staff and training hairdressers, Kerri decided the time was right to start her own hairdressing salon. Kerri Cox bubbles with enthusiasm when she talks about opening her hairdressing salon, Daisy Jake, almost a year ago. “It’s awesome and going fantastically,” she says. 

Communication important in managing debtors

Like any relationship, timely communication between creditors and debtors goes a long way to avoiding trouble. One of those tools for small businesses is the financial web.