Greetings, Finally we have a government and Winston has made his comeback! The Christmas cake is made and is receiving good feedback, the glass of port washing it down may help? Please call into the office for a taste and some Christmas spirit. We thank all clients for what has been a very challenging year […]
Greetings, Not long now until we get to vote for our country leaders – I get a sense the public are wanting a change, let’s all do our part on the 14th of October and make our votes count! The recession is still biting and affecting household budgets which then flow onto business revenues with
HAWERA Monday to Friday 8:30am – 5:00pm OPUNAKE Monday, Wednesday & Thursday 9:00am – 3:00pm NEW PLYMOUTH Wednesday & Friday 10:00am – 3:00pm PATEA (New Hours) Every 1st & 3rd Thursday of the month 9:30 – 2:00pm
Last year, the Green Party hit the headlines for suggesting banks, fuel companies, supermarkets, building products suppliers and energy generators/retailers should pay tax on super profits. So, as we go into the election, we should give some thought as to whether some new innovative taxes are warranted. For example, in Canada, kids cereal manufacturers have
Snippets: Super profits Read More »
A standard data policing check completed by Inland Revenue is to review taxpayer GST filing patterns to identify taxpayers that are GST registered, but perhaps shouldn’t be. In order to qualify for GST registration, a taxpayer needs to be conducting a “taxable activity”. This comprises a continuous or regular activity that involves making a supply
Snippets: GST registration checks Read More »
One of the fundamental director’s duties within the NZ Companies Act 1993 (‘the Act’) is to act in good faith and in what the director believes to be the best interest of the company. This has traditionally been interpreted to mean decisions should be aimed at maximising shareholder returns. In September 2021, an amendment was
Snippets: Proposed amendment to directors’ duty Read More »
Inland Revenue made the headlines end of April 2023 with the release of its report on the amount of tax paid by our high-wealth individuals (HWIs). The findings were that HWIs’ overall effective tax rate when taking into account all sources of income, including unrealised capital gains, is 8.9%. The Treasury simultaneously released a number
Snippets: Global tax rates Read More »
Using a trust to manage and protect a family’s business and personal assets has been a common practice in New Zealand. However, with the recent increase in the amount of information required to be supplied to Inland Revenue, and now the Government’s decision, as part of its 2023 Budget, to increase the trust tax rate
Trust distributions and tax rate change Read More »
Greetings, The government has finally decided that we are in recession. The people (Tax payers) knew this, way before Christmas and were starting to adjust their spending habits – less lattes, less haircuts (I have been saving on those since 1/1/2000). You can see the impact of this now in the cities as mortgage interest
From My Desk: May – July 2023 Read More »
Here in New Zealand, we value simplicity and we call things as we see them. A spade’s a spade and a marshmallow is confectionary. However, over in the UK, things are a bit more complicated. Value Added Tax (VAT) is charged on goods and services (like GST is in NZ) but is subject to a
Snippets: Is it confectionary or ingredient? Read More »
