Category: Business Advisory


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 measures.  The website sets out which support measures are available at which Alert […]

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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 is moving from $15.12 to $16.00 per hour […]

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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 request can be made to amend the […]

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Employee leave and pay entitlements during COVID-19 lockdowns

Auckland’s two recent alert level 3 lockdowns meant a large number of workers were required to work from home where they could, unless they were an essential worker. For those that could not either work from home or their usual workplace, it can be difficult to calculate what employees are entitled to be paid. There […]

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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 less can be expensed. Assets purchased after 17 March […]

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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 for the RSP. The RSP is available nationally even if […]

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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 threshold will reduce to $1,000. The Government introduced the temporary […]

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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,’ enabling business owners to access their financial information from anywhere, at any time. […]

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COVID-19 Resurgence Wage Subsidy

Yesterday the Government announced a 2-week COVID-19 Resurgence Wage Subsidy payment that will be available for employers, the self-employed, and independent contractors, who are financially impacted by the resurgence of COVID-19 and changes to Alert Levels. The resurgence wage subsidy is a nationwide wage subsidy which covers the period Auckland is at Alert Level 3 […]

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Australia dual residency risk

Recent changes in Australia could mean a New Zealand business may be deemed to be tax resident in both Australia and New Zealand, even if the business does not trade in Australia. Being dual resident can impact on the New Zealand business in a number of ways, including needing to determine the primary place of […]

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How to reduce your ACC levies

ACC levies can be a significant cost for businesses operating in high-risk industries such as forestry, construction, and road freight transport among many others. We see more and more clients burdened by the costs associated with operating in a high-risk industry while also paying significant ACC on wages to employees not involved in the high-risk […]

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Brightline Test for ‘Off The Plan’ Property Purchases

Most property investors in New Zealand will be aware that the Brightline Test for Residential Land dictates that gains from the disposal of residential land acquired and disposed of within five years will be taxable, subject to some exceptions.  Pretty straight-forward, right?  Well, like most tax legislation, there are areas that can catch taxpayers out. […]

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