Tax facts – Tax payer penalties
Taxpayers who do not meet their tax obligations may face penalty or interest charges. To avoid such charges, you should pay the full amount of ta… Read More
Tax Facts
Tax Facts – Tax Credits
Individuals can claim a donation tax credit at 33.33 cents in every dollar donated to a registered charity. In addition you can also claim a tax c… Read More
Tax facts – Resident Withholding Tax (RWT)
Resident Withholding Tax (RWT) is a tax deducted on interest earned from investments and bank accounts. The investment organisation or bank d… Read More
Tax Facts – Provisional Tax
Provisional Tax is not a separate tax but a way of paying your income tax as the income is received through the year. The way this works is during th… Read More
Tax facts – PAYE on salaries and wages
Pay As You Earn (PAYE) is the basic tax taken out of your employees’ salary or wages. The amount of PAYE you deduct depends on each employee… Read More
Tax facts – Kiwisaver
All New Zealand residents and people entitled to live here permanently up to the age of 65 are eligible for KiwiSaver. All new eligible employee… Read More
Tax Facts – GST & E-Commerce
Sale of Physical Goods via the Internet
If a GST-registered person sells goods via the internet and the goods are physically supplied to a custo… Read More
Tax facts – Goods and Services Tax
GST is a tax on the supply of goods and services in New Zealand by a registered person on any taxable activity they carry out. The rate for GST is 15%… Read More
Tax facts – Fringe benefit tax
Fringe Benefit Tax (FBT) is a tax on benefits that employees receive as a result of their employment, including those benefits provided throug… Read More
Tax facts – Entertainment
Entertainment expenditure is limited to a 50% deduction if it falls within the following:
Corporate Boxes
Holiday Accommodation
Pleasure Cr… Read More
Tax facts – Depreciation Allowances
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… Read More
Tax facts – ACC Premiums
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 Wor… Read More
