Resources

Do you make your payments to IRD through internet banking?

From 1 July 2011, employers are required to retain a signed copy of each employment agreement or the current signed terms and conditions of employment .

To cope with workflow, this year we have again adopted a similar job queuing process to last year. Unless there are exceptional circumstances, each job will be processed on a ‘first in first out’ basis.
We believe this is fairest for all clients. In order for us to prepare accurate accounts and income tax returns, we need accurate information from you. Please carefully complete these checklists, sign and return them to us with your records.

Important information about LAQC changes – the legislation is now final

You may have heard or read about recent LAQC changes and wondered how these may affect your company. The purpose of this letter is to keep you informed about those changes and advise you of the next steps.
 

Employer invoicing by ACC takes place in July and is based on employee earnings for the year ended 31 March.

Depreciation allows for the wear and tear on a fixed asset and must be deducted from your income. Generally you must claim depreciation on fixed assets used in your business that have a lifespan of more than 12 months. However in special circumstances you can elect not to depreciate an asset by applying to the IRD.
 

Entertainment expenditure is limited to a 50% deduction if it falls within the following

Fringe Benefit Tax (FBT) is a tax on benefits that employees receive as a result of their employment, including those benefits provided through someone other than an employer

On 1 November 2010, the Revenue Minister Peter Dunne confirmed the government’s intention to abolish gift duty. Legislation relating to the abolition of gift duty is currently with the Select Committee. After the legislation is enacted it is expected that the abolition of gift duty will take effect on 1 October 2011.
 

GST is a tax on the supply of goods and services in New Zealand by a registered person on any taxable activity they carry out. The rate for GST is 15% although it can be zero-rated for exports.