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The Demise of the Residential Rental Loss 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.

The minimum wage debate 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 starting point of $15.75 an hour, over the next 3 years.

The New Research and Development Tax Credit The New Research and Development Tax Credit

To encourage more business expenditure on R&D, last month the Government introduced draft legislation proposing a new tax credit for eligible R&D expenditure.

Payday filing - what does it mean for your business? Payday filing - what does it mean for your business?

Payday filing is a change to the current practice of filing your Employer schedule (IR348) each month. Instead, employment income information will be filed electronically with Inland Revenue each payday.

Who still wants to be a landlord? Who still wants to be a landlord?

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 addition, there are various other rules and regulations being placed on landlords. For the average New Zealand mum and dad investor who may have only one rental property, some of these changes may now have them thinking twice about continuing to hold that investment.

Hayes Knight again listed as one of the top accounting firms in New Zealand Hayes 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.

Rewards of being a Knowledge Shop member Rewards of being a Knowledge Shop member

What 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 Knowledge Shop and discovered a reliable solution in the wealth of products, services and training available to members.

Franchise tips Franchise tips

The franchise sector in New Zealand has experienced significant growth in the past few years. New Zealand is known as a franchise friendly country, making it an attractive destination for international brands.

Swimming the tides of change Swimming the tides of change

Changes in technology are moving at an alarming rate, showing no signs of slowing down. Customers are demanding better, faster products, services and experiences and want to do more with less. Companies now have to undergo change almost constantly if they are to remain competitive.

AML/CFT Act now applies to Accountants AML/CFT Act now applies to Accountants

From 1 October 2018, accountants (and bookkeepers) are required to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. This means where our clients receive services from us which constitute a ‘captured activity’, we will need to undertake Customer Due Diligence (CDD).
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