Recently, new legislation has been passed to add more levels of consumer protection around the credit industry. One of those changes removes the ability to pay for credit with credit. This means that finance companies, such as Fee Funders which … Continued
From 1 December 2019, overseas businesses selling low-value goods to consumers in NZ may need to register for, collect and return Goods and Services Tax (GST) of 15%. Low-value goods are those valued at NZ$1,000 or less (exclusive of GST). … Continued
Cashflow is the lifeblood of any business but one of the most difficult things for business owners to control.
Expect an ACC for Employers invoice 9th July.
From time to time, the terms under which you have employed a team member originally may change. This could be as simple as giving them a payrise, or slightly more complicated such as changing from a permanent full time agreement … Continued
From the desk of The Commissioner of Inland Revenue. The Commissioner has issued a new Operational Statement 18/01 – Commissioner’s statement on using a kilometre rate for business running of a motor vehicle. This … Continued
Employers must make deductions for PAYE, ESCT (employer superannuation contribution tax) formerly SSCWT, student loan repayments, child support and KiwiSaver contributions when required, from any payments made to employees. Failure to do this is a serious offence and can … Continued
Bookkeepers and business owners have been on pin cushions this last weekend with the IR being closed for the latest on the business transformation project. On 17 April, improved myIR online services went live, “making tax simpler for you”. The latest improvements … Continued
The payroll landscape is constantly changing, and not just for businesses and staff, but those of us who have responsibility of ensuring employees pay is correct. The Payday Reporting legislation is currently before parliament and proposes to change the way … Continued
Pay-as-you-earn tax (AIM) – what does that mean for you? From April 2018, small businesses, sole traders and contractors can choose a new pay-as-you-earn option, rather than paying provisional tax in instalments several times a year. The IR are introducing … Continued