All Updates
R & D Tax Credits – here we go again
Back in Budget 2007 the then Labour Government introduced a short-lived Research and Development (R&D) tax credit scheme that only lasted for the 2008/09 income year before it was abolished by the in-coming National Government in favour of R&D grants. Fast...
read moreIRD Use of Money Interest rates
In a time when business confidence surveys are at a 10 year low, and economists have indicated two further official cash rate reductions are imminent, the Inland Revenue has announced an increase to their "use of money interest" rate. Although the IRD have always...
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Do you transact with offshore related parties?
For some time now the IRD has been toiling away to bring our transfer pricing legislation in line with the OECD’s Base Erosion and Profit Shifting (BEPs) actions. While just the mere mention of BEPs can put the staunchest tax accountant into a deep sleep, there are...
read moreCGT proposals dumped
Last week the Government released it’s response to the recommendations of the Tax Working Group (TWG). Most notably, the Government has announced it will not be adopting any of the TWG’s recommendations on capital gains taxation (CGT) and has agreed that no further...
read more2019 Year End Checklist
With the new financial year almost upon us, there’s not much time left to ensure you have your ‘house’ in order for 31 March. Our 40-point checklist below will guide you through the year-end process and ensure you maximise your tax deductions and minimise your annual...
read moreYear End Checklist
By Hayes Knight - 13 March 2018Want to reduce your tax bill? With a new financial year about to start for 31 March balance date businesses, now is the time to start planning for year-end. The checklist below will help guide you through the year-end process and show...
read moreThe Demise of the Residential Rental Loss
Not only have residential investors recently been hit with the extended 5-year bright-line test, the new loss rules will mean many residential rental property owners may struggle to cashflow the costs of owning the property. Draft legislation has been released...
read moreThe minimum wage debate
As from 1 April 2018, the minimum wage in New Zealand increased from $15.75 to $16.50 per hour, an increase of 4.8%. The current intention is for this to increase further, to $20.00 an hour as from 1 April 2021. This represents a total increase of 27% from the...
read moreThe New Research and Development Tax Credit
By Shelley-ann Brinkley - 14 November 2018To encourage more business expenditure on R&D, last month the Government introduced draft legislation proposing a new tax credit for eligible R&D expenditure. The credit will apply from the 2019-20 income year and will be...
read morePayday filing – what does it mean for your business?
what does it mean for your business? :: Hayes Knight By Shelley-ann Brinkley - 12 November 2018Payday filing is a change to the current practice of filing your Employer schedule (IR348) each month. Instead, employment income information will be filed electronically...
read moreWho still wants to be a landlord?
Who still wants to be a landlord? : By Hayes Knight - 9 November 2018 It seems every day you read the newspaper, there are numerous articles focusing on the New Zealand property market. There have been a number of tax changes aimed at softening the property market. In...
read moreHayes Knight again listed as one of the top accounting firms in New Zealand
Hayes Knight has again been named in the who’s who of chartered accounting firms in the country - 18th position in the annual list of top 30 accounting firms in New Zealand. The second annual list of top 30 accounting firms in New Zealand conducted by Chartered...
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