Reimbursing Employees for Bring Your Own Devices (BYOD) Reimbursing employees using their own mobile phones or laptops is undergoing some revision by Inland Revenue. This follows the adoption by many businesses of optional Bring Your Own Device (BYOD) policies where employees provide their own mobile phones or laptops for business use. In the case of […]
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Changes to Self-Employed ACC Levies ACC have announced changes to the way they levy people who are self-employed. Until now, ACC have always levied people based on their prior year’s earnings. This is the income declared to Inland Revenue when we file your return. So What’s Changing? From the 2020 year, levies will be based
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2019 Xero Awards Finalist We are blown away to learn that we have are a finalist in the 2019 Xero Awards for Small Accounting Partner of the year. The Xero Awards recognise excellence amongst accountants, bookkeepers and Xero’s ecosystem partners. These annual awards celebrate the role of their partners in helping small businesses thrive in
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2019 Mileage Rate The 2019 mileage rate has finally been released by Inland Revenue. This is the rate which applies to the income year ended 31 March 2019. Petrol or Diesel Engines For petrol or diesel powered cars, the rate per kilometre is now 79 cents, up from 76 cents in 2018. This applies to
Why do I have to depreciate an asset? There are two reasons. One is for tax purposes and the other is because fixed assets have a long life. Depreciation is pretty important area to understand for most businesses. It will impact your profit and so affect the amount of income tax you have to pay.
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When is a tax payment considered late? When tax payments are late, interest and penalties can be applied on top of the core tax amount. These can be quite significant so there’s a big incentive to get tax paid on time where possible. Inland revenue has recently published a practice statement aimed at clarifying when
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Loss Ring-fencing on Rental Properties The government has just introduced their long signalled changes to rental property tax into Parliament. They propose introducing loss ring-fencing on residential rental properties, just in time for Christmas! The proposed bill can be best be described as complex, but we have tried to give a flavour of the proposed
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Variable Pay for Employees Variable pay is a way to allow employees to share in your organisation’s success, and it’s one of the most common questions we are asked about. It’s sometimes referred to as incentive pay, performance pay, or simply bonuses. Employers are looking for ways to build employee engagement and wonder if variable
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Christmas & New Year Holiday Hours Our office will close at midday on Friday 22 December, 2018 and reopen on Monday 14 January 2019 at 8:00am. We hope all our clients take the time to relax and enjoy the company of friends and family. You deserve it. To all our clients, we wish you a
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Working Capital For Startups: Why It’s Important Are you an entrepreneur with a great idea or a startup company? If the answer is yes then this article is essential reading as we look in detail at the importance of working capital. Check out the article for more information or get in touch for a consultation
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