July 20, 2016

Mileage Rate change

Leave a Comment / Mileage rate, Motor vehicles, Vehicles / By generateaccounting

Mileage Rate change The IRD announced recently that for the second year running they have reviewed the mileage rate down. In 2015, the IRD moved the mileage rate down from 77c per kilometre to 74c. Effective for the 2016 tax the rate is now 72c per kilometre. The IRD have justified the reduction by stating that …

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Use of Money Interest Rate Change

Leave a Comment / Interest, Tax finance, tax payment, Tax pooling, Use of Money interest / By generateaccounting

Use of Money Interest Rate Change Use of Money Interest is charged by the IRD interest when too little tax is paid. They also pay interest when too much tax is paid. The amounts differ significantly however. Although the Use of Money Interest rates are not penalties per se, they are designed to act as …

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