Inland Revenue have signalled they will be looking at businesses’ record keeping systems. Key targets will be that all jobs and all income are being recorded and that GST is being handled properly. Recent prosecutions indicate that PAYE records are […]
Inland Revenue’s crackdown on ‘cashies’ continues with their focus on undeclared cash in the construction and hospitality sectors. Last year, the Auckland region saw the most activity. Inland Revenue are now widening their reach. They’ve been trying to change attitudes […]
Have you ever had a Foreign Superannuation Scheme and withdrawn funds or transferred funds from this? Did you account for New Zealand tax on these funds? If you have answered YES to the first and NO to the second question, […]
Read More… from Foreign Superannuation Withdrawal Amnesty (Summer 2015)
If your business peaks during the holidays, have your marketing organised and plan your staffing. – Is there a planned approach to when everyone is taking their holidays? Have extra business cards or other marketing giveaways on hand – it’s […]
Read More… from Sensible Seasonal Housekeeping (Summer 2015)
All vendors and purchasers of property other than their main home must now provide an IRD number as part of the land transfer process. Non-residents Offshore buyers must provide a New Zealand bank account number before they can obtain a […]
Read More… from IRD Numbers for Property Sales (Summer 2015)
The Health and Safety Reform Bill, which started its slow progress last year, took another step forward in late July with its second reading in Parliament. Meanwhile, tragically preventable accidents, particularly in high risk sectors such as quarrying, forestry, farming, […]
New legislation affects property sales made from 1 October 2015 onwards. The changes hit in a variety of ways. Bright-line test and residential land New tax rules now apply to residential property sales made from 1 October 2015. A new […]
The Employment Standards Legislation Bill has been introduced to parliament, proposing changes to strengthen enforcement of employment standards. This will introduce tougher sanctions for breaches and greater accountability for people and entities associated with the employer – such as directors, […]
Are you a US citizen living in New Zealand? If so, your income is subject to both USA and New Zealand income tax requirements. The United States tax system requires its citizens and its resident aliens to report their worldwide […]
New reporting requirements for registered charities came into force from 1 April 2015. This means that registered charities will need to prepare financial statements in line with these new standards. These will now require quite a bit more non-financial information […]
Read More… from Reporting Requirements for Charities (Winter 2015)