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The government abolished gift duty for dispositions of property made on or after 1 October 2011. This means that: Gift duty will not be payable for dispositions of property made on or after 1 … [Read more...] about tax facts – gift duty

Fringe Benefit Tax (FBT) is a tax on benefits that employees receive as a result of their employment, including those benefits provided through someone other than an employer. The four main groups of … [Read more...] about tax facts – fringe benefit tax

Entertainment expenditure is limited to a 50% deduction if it falls within the following: Corporate Boxes Holiday Accommodation Pleasure Craft Food & Beverages consumed at any of the … [Read more...] about tax facts – entertainment

Depreciation allows for the wear and tear on a fixed asset and must be deducted from your income. Generally you must claim depreciation on fixed assets used in your business that have a lifespan of … [Read more...] about tax facts – depreciation allowances

Employer invoicing by ACC takes place in July and is based on employee earnings for the year ended 31 March. Your ACC Premium consists of: ACC Workplace Cover Levy - your classification unit rate … [Read more...] about tax facts – acc premiums