All Updates

IRD 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...

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CGT 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...

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2019 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...

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Year 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...

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The 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...

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The 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...

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The 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...

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Payday 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...

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Who 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...

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Rewards of being a Knowledge Shop member

By Hayes Knight - 30 October 2018What does an accounting firm do to ensure their staff have access to the best accounting resources and support to develop their knowledge and maximise profitability? Many savvy firms throughout New Zealand have joined Hayes Knight’s...

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