Pay Less Tax - Part 2
February 23, 2017
Home Office Expenses for Business Owners
As accountants, one of our roles is to create tax efficiency for business owners. We do this, by ensuring a business claims all entitled expenses to reduce profit and therefore pays less tax. One expense that may reduce taxable profit is a home office expense claim.
Home ...
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
GSTTax TipsAgBizAccountantsGST requirementsPay Less TaxBusiness Health CheckBusiness lunchesBuying a homeCapital GainsCash and ProfitCashflowCompany's - tax rate of 28%Crypto TaxCryptocurrencyCryptocurrency Taxdeductible for taxEntertainment TaxFarming Deductions for Home OfficeFinancial expenditureFirst Home BuyerHome OfficeHome Office Expenses for Business OwnersHybrid BasisIncome TaxInvoice BasisParents Gifting to ChildrenPartnership - taxed at each partner's marginal taxPayments Basisregistered for GSTTax DeductionTax Efficiency and Business StructureTaxable PeriodTrust's - tax rate of 33%Understanding Taxvoluntary GST registration