Tax pooling

Inland Revenue (IRD) charges a high rate of interest on late tax payments (currently 8.22%), and in some circumstances the complexity of the provisional tax regime makes interest charges hard to avoid.
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Payments to shareholders

Broadly speaking, a payment from a company to a shareholder is likely to be a salary / wage or a dividend, and therefore taxable income. However, loans from a shareholder to a company and therefore loan repayments are also commonplace.
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Charities Working Group

The Department of Internal Affairs (DIA) is currently leading a comprehensive review of the Charities Act.
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Tax Working Group

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.
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Provisional tax: How to avoid being stung by the IRD interest rate rise

For many of our clients, the first instalment of provisional tax for the 2019-20 income year is due on 28 August – and the cost of failing to pay on time is set to increase.
 
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Check on ACC

Always check ACC invoices. Sometimes they record your occupation incorrectly. 
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TAX CALENDAR

June 28

Last day to apply for annual FBT returns for those who qualify

 

July 29

3rd instalment 2019
Provisional Tax  (June balance date)

 

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Don’t make customers hit the red button

Chris said he was pleased with the attention at his doctors’ surgery. Soon after he was asked to complete a survey, which was to take only 10 or 15 minutes. 
“I felt I owed it to my carers to respond and started answering questions. They wanted my age, my ethnicity and a string of other barely relevant details before getting down to the meat of the issue. After 10 of these questions, I gave up.”
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