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Discover our latest articles, expert tips, and insights to help you manage your finances and grow your business with confidence. 💡
Find the Best Cloud Accounting Software for Your Medium Sized Business
Is your medium-sized business finding it tough to manage finances with old-fashioned accounting? This article explores top-tier cloud accounting software providing a more efficient way to handle your financial operations. Learn how these platforms can free up your...
Provisional tax: threshold & dates, methods in New Zealand
If you’re self-employed or running a small business in New Zealand, there’s a good chance the words provisional tax make your palms a bit sweaty. Don’t worry, you’re not alone. The Inland Revenue (IRD) doesn’t exactly roll out a red carpet when it comes to explaining...
Personal Trainer Tax Guide: Deductions, GST & Filing Tips
Long Stories Short Alright, here’s the quick version for you: Tax Basics: Whether you’re a sole trader or a contractor, if you're making money as a personal trainer, you’ve got to pay tax. It’s not just about income tax – keep track of your business expenses,...
Payment basis or Invoice basis for GST ? What’s best your business ?
Ever feel like the Goods and Services Tax (GST) system was designed just to mess with your head? You’re not alone. But before your next GST return turns into a late-night panic session, let’s break down one key thing: the GST accounting method you choose actually...
How much can I claim for home office ?
How much can I claim for home office expenses? If you’ve been working from home, you’ve probably asked yourself this question. And rightfully so – who wouldn’t want to maximize their home office tax deductions? Whether you’re a sole trader or self-employed, the stuff...
Small Business Cashflow Loan Scheme (SBC): IRD demands $161 million repayment
The Small Business Cashflow Scheme (SBC), introduced during the Covid-19 pandemic, has hit a rough patch. According to the Inland Revenue Department (IRD), around 10,000 businesses have defaulted on their loans, leaving over $161 million unpaid. That's a hefty chunk...
FBT on Company Car: What are the Rules, Exemptions & Tax Tips ?
Ah, Fringe Benefit Tax (FBT)—the employer’s favorite topic… said no one ever. But if your business has a work-related vehicle, you need to understand the rules, or Inland Revenue (IRD) might come knocking. FBT applies when a company fleet is used for personal use of a...
Can you get maternity pay if you are self employed ?
Quick Summary: Self-employed maternity pay is available in New Zealand, but it’s not automatic like for employees. To qualify, you must: Meet the eligibility criteria set by Inland Revenue (IRD). Fill out the IRD maternity leave forms (IR880 and IR881). Prove your...
Professional Trustees in NZ: Why You Might Need One
No Time to Read? Here’s the Quick Breakdown: What is a Professional Trustee?A professional trustee is an expert, typically an individual or corporate entity, appointed to manage a trust in accordance with legal and fiduciary obligations. They are responsible for...
Renting out a room in your house: taxes implications
So, you're thinking about renting out a room in your house? Sweet, extra income coming your way! But before you start counting those dollars, let's talk taxes. I know, I know—tax stuff isn't the most exciting topic, but trust me, it's worth knowing the ins and outs....
Provisional Tax Dates in NZ: Key deadlines you need to know
Provisional tax—yeah, it's a thing. And if you're in business or earning beyond a certain threshold, you’re probably on the hook for it. It’s basically the IRD’s way of making sure you’re not hit with a giant tax bill at the end of the year. Instead, you pay in chunks...
Airbnb Taxes in NZ: What Every Host Needs to Know
No Time to Read? Here's a Quick Summary Airbnb taxes in New Zealand are something every host needs to understand, especially if you're earning from short-term rentals. Here's the key stuff you need to know: Report Your Income: Whether you rent out a room or an entire...