A capital gains tax, before the end of this Government’s term, is starting to look like a real possibility.

The following changes to KiwiSaver are proposed to be effective from 1 April 2019.

• Additional KiwiSaver contribution rates of 6% and 10% 
• Maximum contribution holiday to be reduced to one year 

The authority has produced a tracker tool to help members compare and contrast fees and returns more easily.

The law is to be changed regarding rental losses. 

For many years, investors in property have had a tax deduction, against their other income, for losses on rental property. Starting from 1 April 2019, residential property owners will no longer be able to set off their losses as previously. 

We’ve talked in the past about emails distracting you from your important business. There’s always the temptation to check an email as soon as it lands.

However, it’s a better habit to check emails, and respond if necessary, at regular intervals that suit your work flow – perhaps every hour or two hours.

Most email programs, however, automatically prompt you when an email comes in. 

Running a home business has some great rewards, but it requires planning and discipline if it’s going to be successful.

If you’re thinking about starting a home-based business, or about bringing an established business into your home, here are a few things to consider.

Will you isolate yourself from your clients?

From 1 July 2018 the Government started weekly payments of $60 per child, known as Best Tax, until the child reaches the age of one. 

To qualify, a baby had to be due on or after this date. Therefore, if it was born a little early, it could still qualify. Best Tax can be extended to three years for families with a household income of less than $79,000.

Say goodbye to filing your PAYE returns monthly (or twice a month for bigger organisations). 

From 1 April 2019 you will have to send in details of your PAYE within 10 working days of paying your staff.