Minimize Tax Payments by Maximizing Deductions Tax deductions – expenses you can claim against the amount you owe – are the single best way to lower your overall tax bill.…

Starting April 1, 2024, anyone providing accommodation or ridesharing services through online platforms in New Zealand will be affected by new GST (Goods and Services Tax) rules.

Financial year 2024 will end on 31 March, so what we can do with tax planning to help us save tax in FY2024. Here are some tips

In the business world, acquiring goods can have two intentions: trading or investing. Most of the business activities related to acquiring will only have the intention of trading, such as…

In an effort to streamline taxation processes and ensure a fair tax regime, New Zealand introduced the Approved Issuer Levy (AIL) system. The AIL is a tax measure designed specifically…

If you’re living or planning to move to New Zealand, it’s important to understand whether or not you are considered a tax resident. Being a tax resident in New Zealand…

Small business owner often face challenge in cashflow planning and tight budget. Among all the expenses saving tips, knowing how to do tax saving is always a key to your…

Tax due dates in February

One of the challenges that Small business owners will have is tax payment cashflow planning, you don’t want an unexpected tax bill pop-up and cause cashflow issue to your business.…

GST is a day-to-day basis topic for small business owners. In general, GST is a tax added to the price of most goods and services, including imports. It is a…

It is common for small business owners to work from a home office (Garage office!). You may claim a portion of the expenses of your household expense into business, the…

As we approach the end of the financial year, the question of how to report income from the purchase and sale of shares is frequently asked when we file individual…

If a GST-registered business purchase secondhand goods from an unregistered person. An input tax credit can be claimed in some circumstances if the criterias are met. Read on to learn…

If a motor vehicle has been provided to an employee an FBT liability will arise if the motor vehicle is used or available to be used for private use by…

SME owners require transfer money from their company to themselves. It is also common to confuse withdrawals with payroll. In this article we will make a specific distinction between withdrawals…

A “bright-line test” applies to sales of residential land from 1 October 2015. A sale is taxable if the disposal occurs within five years of acquisition (or two years if…

When setting up an asset sale, he buyer and the seller can choose how much of the sale amount belongs to each type of asset. This is called allocating the…