New Trust Acts 2019 - Part 1
October 16, 2020
Accountants have received guidance about the new Trust Act 2019. This new law (the first in more than 60 years) will affect everyone who is involved with a Trust. The new trust law will be effective from 31 January 2021 and includes clarification of the existing trust laws a...
Company 28% Tax Rate Myth
October 16, 2020
A company has a tax rate of 28%. This is a flat tax rate and applies to all company profits.
So, why not structure your business, investments, or contracting in a company and only pay tax at 28%? Individuals marginal tax rate is 33%, so would you not be 5% better off and pay...
39% Top Marginal Tax Rate
October 9, 2020
The Labour Party has announced that if re-elected, they would introduce a new marginal tax rate of 39% for an individual’s income over $180,000. The 39% tax rate would only apply to income over $180,000 and the remainder of an individual’s income will be taxed at current...
Business Continuity Planning
September 7, 2020
This service may be fully funded by the regional business partners network. If your business qualifies, you can get our COVID-19 specific business support services (up to $2500 per service).
The funding will not last forever, so let us know that you are interested...
Cashflow Forecasting
September 7, 2020
This service may be fully funded by the regional business partners network. If your business qualifies, you can get our COVID-19 specific business support services (up to $2500 per service).
The funding will not last forever, so let us know that you are interested...
Update on Finance Applications
September 1, 2020
We are experiencing a record low interest rate environment, currently below 2.55% pa. This makes borrowing money cheap and attractive for capital expansion such as a new rental property, capital equipment, buying a new business, funding growth, or consolidating debt.
However...
Covid-19 Wage Subsidy Extension
May 21, 2020
The wage subsidy has been extended to support employers and self-employed who have been significantly impacted by Covid-19. It is available to all businesses (including the self-employed, contractors and sole traders).
The extension is available after the current wage subsid...
Temporary Loss Carry-Back Scheme
May 21, 2020
IRD have introduced a loss carry-back scheme to support customers during the current uncertain economic environment.
Businesses making a loss in either the 2020 year or the 2021 year can use that loss to offset profits they have previously made. The loss is carried back to t...
Government Loans - Small Business Cashflow Scheme
May 21, 2020
The government is providing loans of up to $100,000 to help businesses, including contractors and self-employed, experiencing cash flow difficulties.
IRD is administering the scheme on behalf of the government, however the loan is not a ‘tax’ product, therefore you must...
Covid-19 FAQ - Wage Subsidy, Holiday Pay & More
April 7, 2020
We have recently had a high number of questions relating to the wage subsidy, holiday pay during lockdown (Easter), reconciling Xero and taxes related to the Covid-19 subsidy.
Our Frequently Asked Questions (FAQ) below contain answers based on the information available now. ...
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