All Updates

Hayes Knight rebrands to Nexia

One of Auckland’s leading mid-sized accounting firms has adopted a new name to reflect its global network. In April 2020 Hayes Knight joined the Nexia International network, the 8th largest international accounting network, to provide clients with stronger national...

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Government drops a bomb on residential rental owners

This morning there was certainly no kindness shown by the Labour Government to residential rental owners. As if landlords were not already dealing with enough given the Healthy Homes Standard, the rental loss ring-fencing, the current 5-year brightline test, and the...

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COVID-19 business support at different alert levels

The past 12-months have seen a raft of different support measures implemented by the Government to provide financial support to businesses in this COVID era. The Ministry of Business and Innovation website has a useful list of all the Government's different support...

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Are you across the 1 April 2021 payroll changes?

From 1 April 2021, the following payroll changes come into effect, so prior to running the first pay for the 2022 tax year, take care to ensure your payroll systems have been updated where required. Minimum Wage is moving from $18.90 to $20.00 per hour Training Wage...

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Are you up to speed with your new trustee obligations?

The concept of what a Trust is has caused confusion for many years. This confusion has led to the introduction of a new trust Act with further changes to come. The changes introduced by the Trusts Act 2019 came into effect on 30 January 2021. The Act aims to make...

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IRD 2020 kilometre rates

In December 2020 IRD released the kilometre rates for the 2019/20 income year. 2019/20 Kilometre Rates Vehicle Type Tier One Rate Tier Two rate Petrol or Diesel 82 cents 28 cents Petrol Hybrid 17 cents Electric 9 cents If the 2020 tax return has already been filed, a...

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Get ready for year-end

Before you say goodbye to the 2021 financial year, make sure you work through a year-end process to maximise your tax deductions and minimise your tax bill.  Here are the must-do items: Assets Assets purchased between 1 April 2020 – 16 March 2021 costing $5,000 or...

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COVID Resurgence Support Payment

The Government has introduced legislation for the Resurgence Support Payment (RSP). When the Government activates the RSP, viable businesses that experience a 30% drop in revenue due to the COVID alert level increasing to 2 or higher for a minimum of 7 days can apply...

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Window of opportunity for asset deduction closing

The opportunity for business owners and landlords to take a full tax deduction for new assets costing $5,000 or less is rapidly disappearing. The temporary increase in the low-value asset threshold from $500 to $5,000 will end on 16 March 2021, at which time the...

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Covid 19 update

Hayes Knight continues to operate throughout all of the Covid 19 alert levels and you can contact the team using the main office line, direct dial phone lines or email. At alert levels 3 and 4 our office will be closed and all meetings will be conducted online. You...

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Does your accounting system make things easy?

Accounting software for SME’s has evolved radically over the past 10 years. The majority of providers allow bank feeds direct into your software making obsolete the days of tedious, time-consuming data entry. In addition, the software is often hosted in the ‘cloud,’...

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