If you subdivide and then sell off part of your existing section, you only need to pay tax in certain circumstances. Generally, you do not need to pay tax if all of the following apply- You do not have a pattern of buying and selling properties. You did not buy the undivided section with an...Read More

Kilometre rates for 2024 Income year. The table below outlines the rates you can claim for business motors vehicle expenditure for the 2024 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 year....Read More

Tax exemptions for victims of North Island flooding. A Supplementary Order Paper was added to the latest tax Bill on Tuesday 14 March 2023. These provisions have been made to provide tax relief for certain payments and benefits made by employers to employees affected by the North Island flooding events of 2023. This tax relief...Read More

Tax changes to encourage build-to-rent long term rentals. The Government is proposing a tax change to encourage more build-to-rent long term dwellings in order to assist with the New Zealand housing crisis. This tax change will exempt landlords from the interest limitations rules and applies to new and existing build-to-rent developments. This exemption will apply...Read More

As a contractor/ self employed do I need an accountant? It’s understandable why so many people choose self employment and contracting work, with the greater independence, higher earnings, and control over lifestyle it offers. It is clear to see why so many choose this route. With the added freedom that self employment provides, it also...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

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