What Information Should A Tax Invoice Include?

Business.govt.nz has a convenient tax invoice template that small business owners can use for designing their invoices. Its simple layout ensures that all of the correct information is included for the purposes of both the issuer and the recipient. What Information Should A Tax Invoice Include? Business name. Invoice number. Date the invoice is issued,

2019-11-11T13:07:15+12:00November 11th, 2019|Accounting|

Staff News: October 2019

We are excited to welcome on board our new Auditor, Mark Manait. Mark worked as an auditor in the Philippines after obtaining his Bachelor’s degree in accountancy and qualifying as a CPA. He originally visited New Zealand in 2017 and enjoyed it so much he decided to return the following year, when he obtained

2019-10-23T10:08:33+12:00October 23rd, 2019|The UHY Team|

Ring-fencing Residential Rental Property Losses: Portfolio Basis Vs Property-By-Property Basis

A person may elect to apply the residential property loss ring-fencing rules either on a portfolio basis or on a property-by-property basis. Here we discuss and explain how the ring-fencing rules apply under each method. Portfolio Basis Unless a taxpayer elects otherwise, the loss ring-fencing rules will apply on a portfolio basis. This means that

2019-10-23T09:23:38+12:00October 23rd, 2019|Property Accounting|

Taxing Matters October 2019

Taxing Matters October 2019 is a summary of the latest tax and business changes, updates and news. The Ministry of Foreign Affairs and Trade provides assistance and resources for businesses who are looking to do business with other countries. One of their useful resources is a tariff-finder tool, which allows you to compare and assess

2019-10-21T11:23:19+12:00October 21st, 2019|Tax|

Times They Are A-Changing…For Trusts

The way in which New Zealanders manage trusts is changing due to reforms to trust law reflected in the Trust Act 2019 (replacing the Trust Act 1956). The good news is the reforms governing trusts and the duties of trustees are effective from 30th January 2021. New Disclosure Rules One of the major changes under

2019-10-21T11:04:04+12:00October 21st, 2019|General|

No More Cheques For IRD

From 1st March 2020 the IRD will no longer accept cheques. Although payment by cheque is becoming less and less frequent, there are still customers who make payments by cheque who will need to switch to another payment method by that date. The IRD has several alternative payment options to choose from: Direct debit and

2019-10-21T10:41:52+12:00October 21st, 2019|Tax|

Tips For Beating Burnout

The end of the year is rapidly approaching, and now is the time when many of us feel like we are being stretched even thinner than usual. It’s that end-of-year burnout feeling after working hard and trying to juggle priorities and cope with high stress levels for 10+ months. For many small business owners, running

2019-10-21T09:17:57+12:00October 21st, 2019|Business Resources|

Credit Reporting Changes

The final changes to the Credit Reporting Privacy Code 2004 came into effect on 1st October 2019. This is good news for consumers, as the credit reporting changes aim to make the credit reporting system fairer and improve compliance among providers. The key changes to the code are: Credit providers who offer risk-based pricing must

2019-10-17T13:43:18+12:00October 17th, 2019|Business Resources|

Proposed Changes To Incorporated Societies Legislation

You may not be aware that proposed changes to New Zealand’s Incorporated Societies legislation are going through Parliament at the moment. Here is an update on the changes. In May, the Government agreed to make a number of proposed changes to the Incorporated Societies Act. The Act was designed to provide guidance to New Zealanders

2019-10-17T13:31:01+12:00October 17th, 2019|Business Resources, Not for Profits and Charities|

Privacy Law Changes

New privacy laws to replace the Privacy Act 1993 are passing through Parliament. Digital technology has progressed so much that it is necessary to provide new measures of privacy protection for businesses that collect, store or use personal information about their employees and/or customers. This Privacy Bill is likely to come into effect by the

2019-10-14T08:44:03+12:00October 14th, 2019|Business Resources|