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. ...
Tax TipsCashflowCOVID-19GSTTax ChangesTax Efficiency and Business StructureAgBizAccountantsBusiness Health CheckCompany's - tax rate of 28%GST requirementsHome Office Expenses for Business OwnersIncome TaxInterest DeductionPay Less TaxRental Property TaxesStructuresaccountingAssetsBorrowingBright Line ExtensionBusiness LoansBusiness lunchesbusiness planningBuying a homeCapital GainsCash and ProfitCommercial BuildingsCompany Tax LossesContractorsCrypto TaxCryptocurrencyCryptocurrency TaxDeductible expensesdeductible for taxDepreciationEntertainment expensesEntertainment TaxFarming Deductions for Home OfficeFinancial expenditureFirst Home BuyerFixed AssetsHome OfficeHybrid BasisInvoice BasisLoss Carry-BackLossesLow Value Assetsminimum wageParents Gifting to ChildrenPartnership - taxed at each partner's marginal taxPayments BasisPropertyregistered for GSTTax DeductionTax PoolingTaxable PeriodTrustTrust Act 2019Trust's - tax rate of 33%Understanding TaxVehicle expensesvoluntary GST registrationWage subsidywages increase