Increased IRD Mileage Rate

The IRD's mileage rate has been increased to 73 cents per km (up from 72 cents) effective for the 2017 financial year. This applies to both petrol & diesel fuel vehicles. The increase is largely due to higher average fuel costs and a slight increase in fixed vehicle costs during the 2017 Financial Year. For the first time, they have also set mileage rates for hybrid & electric cars. These... More

Topics: Claimable Expenses Rental Property Accounting Business Inland Revenue Vehicles Contractors

Posted 19/05/2017

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Beware: IRD's Plans to Access your Bank Accounts

With the new platform IRD have recently rolled out for GST returns and the myIR Logon – there’s a section called ‘manage payment bank accounts’. If you fill this in you’re giving IRD access and authority to take money out of your bank account on their terms, rather than when you want to pay them, on or before the due date. Often in business you need to juggle cashfl... More

Topics: GST Inland Revenue Cashflow

Posted 10/05/2017

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New Tax Codes for Contractors

From 1 April 2017, if you are hiring any contractors that are required to have withholding tax deducted, or are a contractor yourself the IRD have issued a new form to be filled in from April 2017 onwards. Contractors providing labour hire services, such as Recruitment Agency or IT Contractors, are required to have these deductions made no matter the structure their business activity is under. Pr... More

Topics: Income Tax Business Tax Compliance Withholding Tax Inland Revenue Contractors Links Schedular Payments Starting Business

Posted 31/03/2017

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Paying Inland Revenue by Credit or Debit Card

Inland Revenue now have the facility to make payments using your credit or debit card on their website. There is a 1.42% convenience charge that you will incur, however there may be some advantages to using this payment method if you are having cashflow difficulties. A few things to consider: You may have up to 55 days interest free on your credit card - so by paying Inland Revenue when your p... More

Topics: Inland Revenue Guides

Posted 8/03/2011 – Updated 3/09/2014

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How To See If You're Eligible For A Personal Tax Refund

This guide is for salary and wage earners who do not own a business or rental property. What’s it about? Learn how to find out if the right amount of tax has been deducted from your salary & wages for the year and how to arrange a refund if there has been an overpayment. Step 1: Obtaining your earning information for the year. First you need to obtain your gross earning details from ... More

Topics: Income Tax Tax Returns PAYE Inland Revenue Tax Refunds Salary & Wages Guides

Posted 30/04/2009 – Updated 4/09/2014

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