Tax Tips


Companies 28% Tax Rates

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...
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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...
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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...
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The MYTH Of Tax Deductions

February 9, 2017

Did you know that a $70 lunch may only give a tax deduction of $6.13?

How often have you heard a business owner say "It's ok, it's a business expense and I can claim it for tax"? Do they really understand that a $70 lunch or dinner may only provide a tax deduction of $6.13? Would you spend $70 to only get $6.13 back? Our take home messages ar...
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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...
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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...
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