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Blog

2019 Budget Overview

Friday, May 31st, 2019

The Government delivered its first Wellbeing Budget on 30 May 2019. In line with its strong focus on social policy, the mental health sector, child wellbeing and social welfare all gained significant increases in spending. The Wellbeing Budget focuses on five priority areas: taking mental health seriously improving child wellbeing supporting Māori and Pasifika aspirations…

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New ACC Rates Set

Tuesday, May 21st, 2019

The ACC levies have been set by regulation for the 2019-20 and 2020-21 tax years. For both tax years the earners’ levy remains the same at $1.39 (GST-inclusive) per $100 liable earnings.  The minimum liable earnings for self-employed workers increases from $32,760 to $36,816. The maximum liable earnings will increase for: self-employed people from $124,053…

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Tax Implications of Working for Accommodation

Monday, April 8th, 2019

A business owner (like a farmer, restaurant owner, or someone in the accommodation business) who provides accommodation to workers in return for them carrying out tasks should be aware that there could be income tax, GST and other implications of providing that accommodation. For example, the value of accommodation may have to be treated as…

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Updates from the IRD

Monday, March 18th, 2019

The following are updates we have had from the IRD that will be of interest to you: KEY SERVICES UNAVAILABLE IN LATE AVAILABLE In late April the IRD will make improvements to their systems to help make income tax more straightforward for you in the future. myIR Secure Online Services, their phone lines and offices…

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Rental Properties – Losses under attack!

Thursday, February 28th, 2019

Do you own residential rental property? Do you make a loss some years? Do you receive tax refunds or have lower tax to pay due to this loss? If you answered yes to the above, then you need to be aware that the rules around utilising the losses for Rental Properties are changing.  From 1…

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