Ticking items off your end-of-year tax checklist this month? Make sure you don’t forget income received from COVID-19 business support. And consider whether further tax relief measures could be appropriate. Rules to keep cash flowing – If money is a bit tight as the financial year draws to a close, here are four tax measures focused …
The Government has now released the draft legislation on Interest tax deductibility for rentals – The changes take effect from 1 October. What will this mean for you?
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Chances are, you have a company vehicle used for both business and private. If you not sure what rate to use to claim your mileage expenses, use the rates listed below to calculate the allowable expense for using your vehicle for business purposes for the 2018-2019 income year. Using the Tier One and Tier Two …
Read more “Understand the Kilometre rates for business use of vehicles”
Are you conducting research and development on home turf? You could be eligible for a tax credit of 15% on eligible R&D expenditure. The Government have introduced legislation bringing in a new R&D tax credit effective from the 2019/20 income tax year (1 April 2019 for most taxpayers) to encourage more Kiwi businesses to invest …
There’s been some confusion about proposed changes to the tax treatment of rental losses. Many taxpayers have been a bit panicky, under the impression that the changes are already in force. While it seems to be fairly certain that these changes will come in, until the law passes they are not in operation. The legislation to make this …
Christmas is a time for celebration but when considering that festive spending don’t forget the potential tax costs – entertainment tax or FBT provisions may apply. We have highlighted the tax treatment of some typical forms of Christmas entertainment. Entertainment Tax or FBT? There are numerous exemptions from the entertainment tax rules but these are unlikely to apply …
