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 …

You may be aware that Inland Revenue installed a major upgrade to their computer systems over the Easter period.  This upgrade will result in quite a few changes in the way we relate to IR, and to the information they provide us. It will take a while to work through exactly what this means for …

Ringfenced rental losses On 5th December 2018, legislation was introducedinto parliament that will “ring fence” losses from residential rental. properties.This change is likely to have a significant effect for some of our clients, andwe wanted to give you a heads-up. For tax purposes, losses will no longer be able to be offset against other income …

When you buy or sell a property, you will need to make some decisions about GST. Firstly, on the front page of the sale and purchase agreement, there is a place to indicate whether the price is “plus GST (if any)” or “includes GST (if any)”. Later, before settlement, your lawyer will probably ask you …

From 1st April 2018, Inland Revenue will introduce the Accounting Income Method (AIM) for calculating provisional tax. Existing provisional tax system Provisional tax is a sort of “pay as you earn” system for people whose income is not taxed at source. Anybody whose net tax is greater than $2,500 for the year, must pay provisional …

April 2017 is almost upon us, and for most of our clients this marks the beginning of a new financial year. Annual Questionnaires In the next couple of weeks, we will be sending out our annual questionnaire emails. These provide a link for you to log in and fill out our online annual questionnaire.  We …