Category: Deductions

The government announced that with the introduction of the top marginal tax rate of 39%, there would be increased focus...

The government recently announced an increase to the Small Business Cashflow Scheme (SBCS). This scheme is available for businesses with...

Inland Revenue (IR) has recently released information setting out the tax rules which apply on fees paid to board members....

Wage subsidies are no longer in the mix of COVID-19 business assistance but with omicron now gaining a foothold in...

The team at Generate Accounting would like to wish all our lovely clients and suppliers a very Merry Christmas and...

The government has announced that a new one-off transition payment will be available for businesses from 10 December this year....

The government has extended the COVID-19 Business Debt Hibernation (BDH) scheme until 31 October 2021 in response to the pressures...

Inland Revenue have announced that a new resident withholding tax rate for high income earners is now available. If you...

When you purchase a business, thought needs to be given to how you will value assets like stock, property and...

The government has announced significant changes that will impact residential property investors. The Bright Line Test will be extended to...

The government has announced that they are activating the COVID-19 Resurgence Support Payment (RSP) to support businesses impacted by the...

The government has announced the new COVID-19 Short-Term Absence Payment which is available immediately.

Generate Accounting will close at midday on 23 December 2020 and reopen again on Monday 18 January 2021. We hope...

COVID-19 – New Assistance Available With Auckland being placed into a Level 3 lockdown, the Government has made announcements about...

First things first. Applications for the original wage subsidy expire today, Tuesday 9 June. If you haven’t already applied and...

Inland Revenue have announced their new Use of Money Interest (UoMI) charges effective from Friday 8 May, 2020. For clients...

The government has announced a new interest free loan facility for SMEs, along with some overdue changes to the existing...

Coronavirus – Tax Loss Scheme The government has announced details on the changes to tax losses as part of a...

Coronavirus – Companies Act changes The government has announced today that they will introduce legislation to temporarily change the Companies...

Coronavirus – Business Finance Guarantee Scheme The government has announced details around their Business Finance Guarantee Scheme. The intention is...

Coronavirus – Changes Announced for Wage Subsidy The government announced changes to the wage subsidy scheme on Friday 27 March....

Coronavirus – IRD Tax Payments Inland Revenue have issued advice on tax payments during the Coronavirus pandemic. With New Zealanders...

We pride ourselves on our commitment to our clients through thick and thin. With the Covid-19 pandemic rapidly impacting business,...

Coronavirus Wage Subsidy Q&A We’ve pulled together a Q&A for the wage subsidy being offered by the government. Needless to...

Coronavirus Tax Changes The coronavirus pandemic has seen some significant tax changes announced. Media attention seems to have focused on...

Covid-19 – Essentials for Business We pride ourselves on our commitment to our clients through thick and thin. With the...

Xero offers free counselling for customers Xero has announced a pilot programme of free counselling and support for their customers...

IRD and Coronavirus It seems certain that the Coronavirus outbreak will have a significant impact on the economy in 2020....

Uber and Xero have partnered with each other to make keeping track of bills easy. The new service will automate...

Changes coming for Incorporated Societies The Ministry of Business, Innovation and Employment (MBIE) have announced that they will pursue changes...

Reimbursing Employees for Bring Your Own Devices (BYOD) Reimbursing employees using their own mobile phones or laptops is undergoing some...

Changes to Self-Employed ACC Levies ACC have announced changes to the way they levy people who are self-employed. Until now,...

2019 Xero Awards Finalist We are blown away to learn that we have are a finalist in the 2019 Xero...

2019 Mileage Rate The 2019 mileage rate has finally been released by Inland Revenue. This is the rate which applies...

Why do I have to depreciate an asset? There are two reasons. One is for tax purposes and the other...

When is a tax payment considered late? When tax payments are late, interest and penalties can be applied on top...

Loss Ring-fencing on Rental Properties The government has just introduced their long signalled changes to rental property tax into Parliament....

Variable Pay for Employees Variable pay is a way to allow employees to share in your organisation’s success, and it’s...

Christmas & New Year Holiday Hours Our office will close at midday on Friday 22 December, 2018 and reopen on...

Working Capital For Startups: Why It’s Important Are you an entrepreneur with a great idea or a startup company? If...

Xero Price Increase Xero have announced that prices for their Standard and Premium pricing plans are increasing by $5 per...

Employee Share Schemes and Tax Changes apply to the tax treatment of employee share schemes from 29 September, 2018. The...

GST and AirBNB Some homeowners are being impacted by GST and AirBNB. We have put together a blog covering some...

Payday Filing Payday filing allows employers to replace the IR348 Employer Monthly Schedule form with online submission every payday. Online submission...

Anti-money Laundering and Accountants Anti-Money Laundering legislation will impact Accountants from 1 October this year. What is Money Laundering? We...

Sales Activity Numbers Don’t Lie Sales Activity numbers don’t lie. In fact, they are the single most important factor in...

We’re on the Move! Generate Accounting is on the move to brand new premises. The Auckland City Mission is taking...

New Mileage Rate Method Announced A new mileage rate method has been announced by Inland Revenue. Every year the department...

Credit Card Surcharges & GST Inland Revenue have been asked about their position on credit card surcharges & GST. To...

What is a bad debt? Just what is a bad debt? That’s a question that Inland Revenue has set out...

Business Loans: Improving the Odds In a guest post, David Paulin shares his tips with us about improving the odds...