Tax Tips - GST Insights. Part Two
February 2, 2017
So what are the different methods for doing my GST?
Following on our GST theme, this blog will explain the difference between 'GST basis' and outline the advantages and disadvantages of each. In a nutshell, you can pay GST when you receive the cash from your customer, or when you issue an invoice to your customer. Either opti...
Tax Tips - GST Insights. Part One
January 24, 2017
Do I need to register for GST?
One of the most popular questions often asked from people starting a business is, 'do I need to register for GST?' This article will answer that question.
GST is a tax on consumption, on goods and services supplied in New Zealand.
This is different from income tax which is...
The Difference Between Income Tax and GST
January 18, 2017
What is the difference between GST and Income Tax?
Income tax is a tax on profit while GST is a tax on consumption. This article will explain the differences and basic compliance requirements of each.
1. Income Tax
Everyone who earns taxable income in New Zealand pays income tax. For employees, the employer deducts PAYE ...
TAGS
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