GST Zero Rated Property Transactions
January 22, 2020
We regularly review land transactions where either the purchaser or vendor are GST registered, but the other party is not. This inconsistent nature of each parties GST status may result in some uncertainty over the price of the land and have potential significant consequence...
Back to back loans & interest deductibility
January 9, 2020
When a business borrows money to earn taxable income, the interest cost will be tax deductible. The key test is the “use” of the borrowed money, rather than the purpose of borrowing. There must be a clear nexus between the interest incurred and the production of taxable ...
Companies with Losses Carried Forward
December 3, 2019
Companies may have losses carried forward from a prior year. Losses may have resulted from losing money in a previous business venture, one-off signature expenditure (e.g., significant repairs and maintenance on a property), or during the start-up phase of a new business.
Th...
Proactive ways to manage your tax
November 20, 2019
Benjamin Franklin said there were only two things certain in life: death and taxes.
What if there was a better way to manage paying tax on your terms that suit you?
Tax Pooling is a system, that allows taxpayers to pay provisional tax when it suits, while ensuring ...
Helping your child into their first home
October 1, 2019
We have recently had several conversations about helping children into their first homes. Some parents have an inter-generational view of wealth and like to pay it forward by providing an early inheritance.
There is no one size fits all approach for this process, or any fam...
Differences Between Cash and Profit
October 1, 2019
Cash is king! Do you make a profit, have tax to pay but wonder where your cash is going?
There has been increasing discussions about the economy potentially slowing down. Experience shows that those in a strong cash position have opportunities available in a downturn; normal...
Cryptocurrency Tax Update - March 2019
March 29, 2019
Overview
Cryptocurrency tax is currently being reviewed by IRD and different tax interpretations, such as financial arrangements are being applied and discussed. Financial arrangement tax treatment may apply to some cryptocurrency tokens and will depend on the specific characteristic...
Combined Business & Personal Travel
March 18, 2019
Business travel often provides a great opportunity to add a few extra days to explore a new location or rest and relax and enjoy some time away from home. This article outlines the tax-deductibility for business travel that includes a personal element. ...
Comprehensive Guide to PayDay Filing
February 15, 2019
Payday Filing
From 1 April 2019 payday filing is mandatory. This means that each payday employers will be required to file employees earning details to IRD.
Summary of PayDay filing
Employers must file employment information every payday instead of monthly PAYE r...
Cryptocurrency Tax Payments - FAQ
February 15, 2019
Some taxpayers have 2018 terminal tax payments due on 7 April 2019. This is the final tax payment due for the year ending 31 March 2018. We have also previously signaled 2019 provisional tax payments (due 7 May 2019) which are dependent on 2019 profits.
The article belo...
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