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On April 1, we move into a new financial year for most Kiwi businesses – and the new top personal tax rate comes into effect. For individuals earning over $180,000, that top chunk of income will now be taxed at 39% instead of 33%.This will only affect you if you personally...
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Minimum Wage IncreaseOn 1 April 2021 the minimum wage will increase to $20 per hour. This rate applies to all employees 16 years and over. The starting-out and training hourly minimum wage rates will increase to $16 per hour, remaining at 80% of the adult minimum wage.Refer ...
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Make sure you consider the business support and tax relief measures introduced because of COVID-19 so you can sail as smoothly as possible into the new financial year.There are some things you may not be used to thinking about when you prep for end of tax year:New rules to k...
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GST due

September 30, 2020
Reminder, GST is due on Wednesday 28th of October for the period ending 30th September.  Provisional tax is due if you have a March, May or June balance date and are filing GST on a 6 monthly filing frequency. ...
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Have you missed your tax payment? Worried about the IRD’s late payment penalties and use of money interest (UOMI) charges? Then tax purchasing could help you! New Zealand tax-payers have to pay tax on certain dates, at certain amounts, depending on their income levels. If ...
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The New Zealand Government recently passed legislation to increase the provisional tax threshold from $2,500 to $5,000. So, if you normally pay provisional tax on 28 August, you may now no longer have to and you shouldn't be alarmed if you do not receive the usual remin...
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Your quarterly FBT return is due soon.If you’re an employer, and you provide benefits to your employees that are additional to their salary or wage, such as personal use of a company vehicle, you need to pay tax on these. This type of tax is called Fringe Benefit Tax (FBT)...
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IR updates

March 17, 2020

Employer and not-for-profit webinars

The final webinar for employers and not-for-profit organisations will take place on 18 March 2020 from 2:30pm – 3:30pm. It's the last session in this series and focuses on helping you prepare for upcoming changes. The session will cover what's changing for employers, myI...
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Pay your taxes by cheque?

January 31, 2020
Five new ways to do it.If you normally write a cheque to pay for your taxes, it’s time to decide how you will pay in the future. As of 1 March 2020, the IRD will no longer be accepting cheques. By the end of the last financial year (June 2019), only around 5% of payments r...
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Declare all cash Jobs

November 25, 2019
Declare it all. Or risk everything. Tradies who do undeclared cash jobs can be hit with tax penalties, or criminal convictions that could lead to prison – costing them their business and their income.Doing jobs for cash or for your mates is okay - as long as you record the...
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