Accounting and Taxation

AIM: New Provisional Tax Option for Small Businesses

From 1st April 2018, small businesses with turnover of less than $5 million per year will have the option of using the accounting income method (AIM) to work out their provisional tax payments. Although you can continue to use other provisional tax calculation options, AIM may be advantageous because it uses new functionality included in

2017-10-20T08:17:41+00:00 October 20th, 2017|Accounting and Taxation|

DIY Accounting: The Dangers And Hidden Costs

Kiwis love DIY – it’s in our DNA! When it comes to home renovations, fixing cars or managing your own business and books, we love to do it ourselves. This makes sense for a lot of small businesses when cash is tight and there are accounting software options readily available in the market which theoretically

2017-10-11T13:38:45+00:00 October 11th, 2017|Accounting and Taxation|

Taxing Matters: August/September 2017

A summary of the latest tax changes relating to individuals and businesses. A Gisborne retailer has been sentenced to seven months’ home detention for hiding more than $1 million in cash sales from his accountant to avoid paying tax. This is a timely reminder that the IRD takes any attempt to avoid paying tax very

2017-09-05T09:29:11+00:00 September 1st, 2017|Accounting and Taxation|

Right First Time: Motor Vehicle Expenses

Taking the guesswork out of common SME topics so you can get it “right first time”. Having discussed entertainment expenses in our previous issue, we now take a look at another very common type of expenditure: motor vehicle expenses. We will use some examples to illustrate how and what we can claim as motor vehicle

2017-07-12T09:04:16+00:00 July 4th, 2017|Accounting and Taxation|

Taxing Matters: June/July 2017

A summary of the latest tax changes relating to individuals and businesses. The government has now set a threshold for reportable tax debt. After extensive consultation, a recent Order in Council has set a threshold of $150,000, meaning that a company’s tax debt over this amount may be disclosed to certain credit reporting agencies. If

2017-07-12T09:02:51+00:00 July 4th, 2017|Accounting and Taxation|