Provisional Tax and Working Capital

Business Briefs: Tax on Land

Hamish Mexted Increasing Profit, Reducing Tax, Videos

While it’s technically true that there’s no Capital Gains tax in New Zealand, there are still 10 ways you can pay income tax on the profit you make when buying and selling property. iif Chartered Accountants Director Hamish goes over ways to avoid these  income tax traps.

“Simplifying” Provisional Tax: Accounting Income Method

Keitha McClure Accounting & Compliance, Managing Cash, Reducing Tax

So the IRD are trying (and more-or-less failing…) to simplify Provisional Tax. In a valiant effort, they’re bought in the “Accounting Income Method” (AIM). In short, from 1 April 2018 you’re able to pay Provisional Tax based on your business’s profits. The idea is good – pay your tax when you earn the money. The detail isn’t so good – …

Expenses: What can I claim?

Eugenie Jones Accounting & Compliance, Odds & Ends, Reducing Tax

A question often asked by independent contractors and small business owners. Independent contractors can claim a number of expenses. However, they have to be legitimate business expenses. These are expenses that are necessary for your business to derive income. Basically anything that is in line with the nature of your business and has helped you to create your income will …