GST: The Second-hand Goods Credit

A GST-registered person who purchases “second-hand goods” in the course of a taxable activity may be able to deduct a proportion of the purchase price as input tax. A deduction may only be made if: The goods are purchased for making taxable supplies; The goods are in New Zealand; The supply is a non-taxable supply,

2019-07-02T16:08:25+00:00July 2nd, 2019|Tax|

Taxing Matters: June/July 2019

A summary of the latest tax and business news and updates. From 1st January 2020, the IRD will require most people who buy and sell properties to supply their IRD numbers on land transfer documentation. Currently, IRD numbers are not required for main home property transfers because in most cases there are no tax obligations

2019-07-03T08:59:00+00:00July 2nd, 2019|Tax|

Staff News: June/July 2019

We are excited to welcome on board Krishneel Lal, who has joined our Audit team as a Senior Auditor. Krishneel recently moved to New Zealand from Fiji and has nine years’ experience in the audit field. In his spare time Krishneel enjoys watching movies, exploring new places and spending time with family and friends.  

2019-07-03T09:08:42+00:00July 2nd, 2019|The UHY Team|

Has Public Confidence In Not For Profits Dropped?

International charities and not for profits have recently come under increased scrutiny following various scandals and accusations of unjustified executive pay. UHY Haines Norton’s Audit and Assurance Director Sungesh Singh was recently asked what the situation in New Zealand is for this sector: whether public confidence has dropped like it has in the UK and

2019-07-03T08:41:52+00:00July 2nd, 2019|Audit|

Non-Deductible Expenses

While many expenses incurred in the course of doing business can be claimed to reduce your income tax, certain expenses are not deductible for tax purposes. These include: Late filing and late payment penalties imposed by the IRD. Costs related to breaking the law, such as speeding tickets or parking fines. Insurance premiums relating to

2019-07-02T10:05:40+00:00July 2nd, 2019|Tax|

Xero Updates: Location Tracking And Integrated Hospitality Apps

Location Tracking Many businesses, particularly trade and construction businesses, involve moving around from job to job. Accurately tracking the time spent on individual jobs is essential to help with paying employees, assessing the profitability of individual jobs, and to help with quoting on future jobs. However, manually tracking the time spent on different jobs can

2019-07-03T08:53:22+00:00July 2nd, 2019|Xero|

Client News: Gary Taylor Awarded CNZM

Congratulations to UHY Haines Norton client Gary Taylor CNZM QSO, CEO of the Environmental Defence Society (EDS), who has been awarded a Companion of The New Zealand Order of Merit in the Queen’s 2019 Birthday Honours list. As an experienced environmental policy analyst and consultant, Gary has been honoured in recognition of his contribution to

2019-07-02T09:18:04+00:00July 2nd, 2019|Client News|

Is Sponsorship Tax Deductible?

If your business provides sponsorship to an individual or organisation, it may be tax deductible. Sponsorship is different to ‘advertising’ or ‘donations’. It is defined as when the taxpayer incurring the expenditure expects that his/her business will be promoted in some way, whilst the sponsorship recipient will also be benefited in some way. The IRD’s

2019-06-24T10:08:35+00:00June 24th, 2019|Tax|

Your Final Pay Following Redundancy

It is the employee’s responsibility to check that their final pay following redundancy is taxed correctly. Here we take a look at what should be included, and taken out, of your final pay. If you are in the difficult situation of facing redundancy, there is a fair process your employer must follow which includes exploring

2019-06-18T14:33:34+00:00June 18th, 2019|Tax|

Staff News: May 2019

We have said goodbye to Julia Rewi, who was a wonderful Receptionist and Administrator in our Helensville office. Julia has left to spend more time with her family in the UK, and we wish her all the best for her retirement. We have also said farewell to Kala Lad, who has been a much-valued member

2019-05-30T14:11:55+00:00May 30th, 2019|The UHY Team|