If a partner's current account goes into an overdrawn situation in a partnership, does interest need to be charged on it. I’m thinking not, but can you please confirm.
Read MoreAre partnerships bound by the accrual rules? Do I need to bring in accounts receivable and payable into the annual accounts, or is that just for companies?
Read MoreMy client has a company and has made a donation of groceries through the company to a third party. Can this be a deductible expense?
If he started a charity could money given to that charity be counted as a donation and be tax deductible, providing that the charity used the funds to provide for those in need.
Read MoreIf a company lends money to a trust, is the company required to accrue interest income? (if so, the trust will mirror the entry as an interest expense). The shareholder and director of the company is also a trustee of the trust.
Read MoreWe have someone who paid for his airfare for travel for a registered charity and in the same deposit he paid enough for two other people.
Can he have this amount for the other two airfares as a donation and get a donation rebate receipt for it?
Read MoreAre there any NZ tax implications for a NZ Trust which makes a capital and final distribution to a non-resident New Zealander who is a beneficiary? The beneficiary is aware that there may be tax consequences for her in her current country of tax residence.
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