As an employee, can I claim expenses from working at home? Due to COVID-19 working from home has become very common for employees. It raises the question as to whether all the expenses resulting from this can be claimed? (Such as power, internet and printing). In many instances employees are expected to absorb these additional...Read More

The newly implemented Cost of Living Payment What’s it all about? In the 2022 Budget the government announced the ‘Cost of Living Payment’ scheme in response to the increased cost of living. For those eligible, individuals will receive up to $350, with payments split into 3 monthly payments of $116.67.  To be eligible individuals must:...Read More

It’s 2022 and the ever-changing taxation landscape for your rental property has made it more complicated than ever to manage your own returns.Read More

Prescribed interest rates for fringe benefit tax (FBT). The prescribed interest rates for fringe benefit tax (FBT) increased to 8.41% on 1 October 2023. These are the prescribed interest rates that are used to determine the fringe benefit value of low-interest loans provided to employees. QuarterRate (%)From 1 October 20238.411 April 2023 to 30 September...Read More

Covid-19 payment review underway. The IRD are now reviewing the accounts of a sample of customers who received one or more of: -Resurgence Support Payment -Covid-19 Support payment -Small business Cashflow Scheme Loan They are reviewing it to ensure customers met the relevant eligibility criteria and have used payments in line with the terms and...Read More

Keeping business records for seven years. Records make it easier to: calculate your income and expensescalculate your GST if you’re GST registeredmeet your employer obligations if you have staffconfirm your accounts. Records must be in English or Māori, unless the IRD have given you written authority to keep them in another language. You need to...Read More

Kilometre rates for 2021- 2022 Income year. The table below outlines the rates you can claim for business motors vehicle expenditure for the 2021-2022 income year. The Tier 1 rate is a combination of your vehicle’s fixed and running costs for the business portion of the first 14,000 kilometres travelled by the vehicle in a...Read More