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News

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30 July 2019

Personal Liability of directors whilst trading insolvent

 https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12253682


8 April 2019

KiwiSaver: Changes made to KiwiSaver came into play from 1 April 2019 with the addition of 2 new contribution rates for employees – 6% and 10%. Westpac’s NZ General Manager of Consumer Banking and Wealth has been quoted as saying, ‘The 6% option looks like a real winner, with almost half of those planning to change their contribution choosing this rate.’ There is no change to the employer contributions, hence, no reason why employers shouldn’t be alerting staff about the change. For further commentary on this:

https://www.ird.govt.nz/campaigns/2019/kiwisaver-2019/kiwisaver-2019.html

  

https://www.westpac.co.nz/rednews/business/new-zealanders-set-to-take-advantage-of-kiwisaver-changes/


12 March 2019

New Employment Law Changes taking effect on 12 December 2018 and 6 May 2019 are now legislated. The changes that took place in December includes the entry of Union delegates to the work place and where businesses must enter into bargaining for multi-employer collective agreements. The changes in May includes the restriction of the use of 90 day trial periods and the right to set rest and meal breaks.

https://www.employment.govt.nz/about/employment-law/employment-relations-amendment-bill-2018/


12 March 2019

IRD Tax Investigation 101: what do you expect with an IRD investigation of your financial affairs.  

https://www.business.govt.nz/news/audits-inland-revenue/?utm_medium=email&utm_campaign=February-2019-Businessgovtnz%20Newsletter-101-All%20Others&utm_content=February-2019-Businessgovtnz%20Newsletter-101-All%20Others+CID_0e1276998230b77130e152453b0b536d&utm_source=Newsletter&utm_term=Read%20more


23 October 2018

Prenuptial Agreements (Contracting Out Agreements) demystified. 

https://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=12146229


20 September 2018  

 The first interim report is issued by the Tax Working Group. Highlights include Capital Gains Tax, GST and Business Tax. 

 https://taxworkinggroup.govt.nz/resources/future-tax-interim-report


5 September 2018

Our clients are reminded every year to ensure that their Wills represent their current wishes, yet there are a few who can't seem to find the time to put one in place. 

https://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=12107427


23 August 2018

The way we file our PAYE Returns will be changing from 1 April 2019. Read the IRD fact sheet and be prepared for the changes.


29 March 2018

The Bright-line test to determine if the sale of a residential property is subject to income tax has been extended from 2 to 5 years.

http://www.ird.govt.nz/news-updates/brightline-extension.htm


8 February 2018

Food Act: If you are in the business of selling food, you must register under the new Food Act by 31 March 2018.      

 https://www.mpi.govt.nz/food-safety/food-act-2014/ 


20 December 2017

The cost of your entertainment

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11963261 


30 November 2017

With the Loan To Value (LVR) restrictions meeting some of the objectives in cooling the property market, the Reserve Bank is looking at easing these:  http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11949644  


20 November 2017

The Government Announces changes to tertiary funding from 2018: 

http://www.ird.govt.nz/news-updates/like-to-know-changes-tertiary-funding.html   


17 October 2017

The IRD is cracking down on cash-jobs that are not declared by tradesmen: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11933837     


From fart tax to google tax;  weird Tax Rules from around the world; https://www.cnbc.com/2014/02/14/top-12-weirdest-tax-rules-around-the-world.html    


22 September 2017

Australia taxes ghost homes:
http://www.smh.com.au/business/property/dear-ghost-home-owner-prepare-to-be-hit-with-more-tax-20170922-gymo2m.html   


10 August 2017

Is the lease surrender payment to the landlord a capital or revenue receipt? This is confirmed by the High Court:
http://www.ird.govt.nz/technical-tax/case-notes/2017/cn-2017-08-10-lease-surrender-payment.html