We explore the implications of new legislation on GST, information collection, and the responsibilities of platform operators. Learn how these changes impact businesses and individuals in the platform economy and gain insights into how accountants can adapt to best serve their clients in this evolving landscape.
Read moreR&D Tax Incentive: Understanding Eligibility for Your Business
We want to shed some light on the Research and Development (R&D) Tax Incentive in New Zealand and help you determine whether your business is eligible to take advantage of this fantastic opportunity.
Read moreRecent Tax Updates - What Auckland Business Owners Need to Know
In this blog post, we'll delve into the key updates introduced by the Public Act 2023 No 5 and how they might affect your operations.
Read moreBenefits of being in Business vs Employment
As a small business owner in New Zealand, you have a unique advantage when it comes to taxes. Owning a small business opens up a world of opportunities for tax savings and wealth creation. In this blog post, we will walk you through the key aspects of how tax works for small businesses in New Zealand, highlighting the benefits and strategies you can utilise to maximise your tax savings.
Read morePaying Staff Reimbursements for Home Office use
Not all payments to staff need to be taxed, and can be treated as exempt income for the employee. For example employers can pay staff for using a home office space using either actual expenditure or through an exempt allowance. This blog also includes updated rates from 1 April 2023.
Read moreTax Pooling: A Smart Solution for Late Income Tax Payments in New Zealand
Late income tax payments can lead to penalties, interest charges, and unnecessary stress for businesses and individuals in New Zealand. By utilizing tax pooling, Accountech Chartered Accountants and their clients can avoid these financial burdens and gain additional flexibility in managing their tax obligations. With TMNZ as a trusted intermediary, the process becomes even more efficient, providing peace of mind and saving both time and money. Choose tax pooling as a smart solution and let Accountech help you navigate the complexities of the New Zealand tax system.
Read moreAccounting Setup - is Xero the only option?
As a sole trader in New Zealand, finding the right accounting software is crucial for managing your finances efficiently. While Xero is a popular choice, there are several other alternatives worth considering. In this article, we'll explore the top Xero alternatives for sole traders in New Zealand, along with user reviews and information on popular invoicing apps.
Read moreTransitioning to AIM: Simplify Your Provisional Tax
If you are tired of the traditional approach to calculating and paying your provisional tax, it's time to explore an alternative method that aligns your tax obligations more accurately with your actual income.
Read moreWhen are Legal Fees deductible for Tax?
According to the Income Tax Act in New Zealand, legal fees can be deductible if they are incurred for the purpose of deriving income or are directly related to a taxpayer's business activities.
Read moreWhen is it Uneconomic to Use the FBT Method for Vehicles?
We explore when it becomes uneconomic to use the FBT method for motor vehicles owned by companies in New Zealand.
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