An additional option for calculating provisional tax known as AIM (Accounting Income Method) will become available for small businesses that use approved accounting software to prepare their accounts with effect from 1 April 2018. If you are a medium or large business reading this, take note that Inland Revenue very much see this roll out to small business as a pilot, with the intention that a form of it will be offered to larger businesses down the track. They are already exploring ideas for how to do this.
Read MoreThis month in Tax Bites, we discuss Foreign Tax Credits and GST for Exported Services
Read MoreA recent case, Van Uden v CIR, highlights the potential significance of a property owned by a trust being an individual’s permanent place of abode and thus triggering tax residency.
Read MoreEffective for reporting periods beginning on or after 1 Jan 2018 - This new accounting standard establishes principles to be applied in reporting information about the nature, amount, timing anduncertainty of revenue and cash flows arising from a contract with a customer. a gap in the market, a need that you can satisfy better than others?
Read MoreFrom 1 April 2017, all ESS benefits relating to your New Zealand employees must be disclosed as part of the Employer Monthly Schedule (“EMS”). Employers will also have the option to withhold PAYE on ESS benefits on behalf of their employees.
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