Here are a couple of tax changes effect from 1 April 2025 for New Zealand businesses and individuals. These adjustments, will impact how you manage your finances, report income, and plan for the future. Personal Tax Thresholds & Rates The government has announced new personal income tax thresholds, effective from 1 April 2025. Here’s a...Read More

Avoid penalties, stress, and costly errors with these practical tips for dealing with Inland Revenue in New Zealand. Whether you’re a business owner, contractor, or wage earner, dealing with Inland Revenue (IRD) is a part of life in New Zealand. Unfortunately, even well-meaning individuals and businesses make mistakes that can lead to fines, delays, or...Read More

Short-stay accommodation is when you are renting out your residential property to guests for up to 4 consecutive weeks at a time, e.g., Airbnb, Bookabach and Holiday Homes. Short-stay accommodation includes: -a room in your house -your whole house -another residential property that is not your main house such as an investment property. -a cottage,...Read More

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

New Personal Income Tax Thresholds. The Budget’s main feature is the $3.7 billion a year tax package, which will kick in from 31 July 2024. https://budget.govt.nz/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

Does leaving New Zealand change my tax responsibilities? As a New Zealand tax resident if you are planning on leaving the country there are a few things you will need to work out prior to your departure. You will need to work out whether your tax residency status will change, if double tax agreements will...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

Rules for tax invoices are changing on 1 April 2023. The new rules surrounding tax invoices have recently been released by Inland Revenue. These rules come into action on the 1st of April 2023. The new term ‘taxable supply information’  is a more general requirement, and will be replacing the current requirements of  ‘tax invoices’. ...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

Am I a provisional taxpayer? And what happens when the due date falls on a weekend or public holiday? You enter into the provisional tax regime when your residual income tax is more than $5000. In this regime you normally pay 2 or 3 installments throughout the year, depending if you are GST registered.  If...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

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