Incorporated Societies membership subscriptions and taxation Membership subscription income is commonly treated as non‑taxable under the mutuality principle. However, Inland Revenue has released a draft interpretation statement (ED0265) which suggests that, in some cases, membership subscriptions may be taxable. This is not a law change, but a potential change in Inland Revenue’s interpretation of existing …

There are some important things that you may need to do before the start of the new financial year on 1 April: Kiwisaver changes. If you are an employer, you will probably need to make changes in your payroll system and also any salary automatic payments.  See below for further details Stock-take. If you have inventory or …

Please find below an update on the latest rounds of government support. We are also including a link to the leave support scheme which becomes more relevant once people are able to work outside of their homes. Resurgence Support Payment (RSP) A third round of the RSP will be available on Friday 8th of October. To …

We do hope this email finds you all well (as well as you can be).With an extension to level 4 being announced in Auckland and the rest of the country remaining at level 2, here are the details of the third round of Government support. Wage Support Subsidy (WSS) A third round of wage subsidy …

We do hope you and your families are keeping well during this lockdown. The following is an update on the government support available due to the extension of the lockdown Wage support subsidy (WSS) Due to the extension of the level 4 lockdown for Auckland a second round of the wage subsidy will become available. This will …

This email summarises the government support available for this current level 4 lockdown. There will be two types of Government Support Available 1. The Wage Subsidy Scheme (WSS) which is available nationally when there’s a regional or national move to Alert Levels 3 and 4 for a period of seven days and helps eligible businesses keep paying staff and …

We sent an email last week to provide information regarding some of the initiatives the government has announced to help businesses survive and begin to recover from the effects of the COVID-19 crisis. Since then some some of the details have been changed, and this is a short note to ensure you are up to …

5th June 2020 …. It’s been good to see the country starting to moving again under alert level 3 and alert level 2. We are all looking forward to alert level 1, when things will return to some sort of normal. This is just a quick note to make sure you are aware of some …

To assist small businesses with cash flow during the COVID-19 recovery, the government has announced a special Small Business Cashflow Scheme (SBCS) which provides loans on very attractive terms.  Applications will open in 12th May and continue until 12Th June.The loans will be administered by Inland Revenue, and you will need to apply through the MyIR website, which means …

Many of you will have tax payments due on 7th May. For those of you who are GST registered on a two monthly basis, your next GST return and payment is due on 7th May, and the 3rd instalment of 2020 provisional tax due on the same day. Due to the effects of the lockdown you may have …