Topic: Company
What is a Dividend?
A dividend is an allocation of profits from a company to its shareholders. In small businesses it usually works like this - a company has made a profit for the year and paid income tax on that profit at the company tax rate of the time (currently 28%). The shareholders have not yet had the use of this money. When the shareholders decide they'd like to withdraw this money from the company a divid... More
Topics: Income Tax Shareholders Tax Returns Terminology Company
Posted 25/09/2014 – Updated 22/12/2014
Business Numbers for Companies Now Assigned
The New Zealand Business Number (NZBN) is a core initiative of the Government’s Better Public Services programme, which is working towards making it easier for businesses to work with government. All companies on the Companies Register have now been assigned a New Zealand Business Number (NZBN). This is the first step towards allocating a NZBN to all businesses in New Zealand, and creatin... More
Topics: Company
Posted 16/12/2013
Last Chance for LAQCs to Become LTCs
If your company was an LAQC prior to 31 March 2011 and you would like to transition to a LTC (Look Through Company) now's your last chance to do so. The second and final cutoff date is 30 September 2012. The key thing here is if you have an LAQC that hasn't elected to be a LTC AND you haven't been in touch with us to decide on the best strategy going forward please do soon. Companies that were an... More
Posted 4/09/2012
Companies Office Fees Increase
The New Zealand Companies Office is changing its fee structure, quite significantly in some areas. On 1 August 2012, the Companies Office will be making a series of changes to the fees it charges for services, and will also begin to collect levies to fund the Financial Markets Authority (FMA) and the External Reporting Board (XRB). The new Companies Office fee structure addresses a funding def... More
Topics: Client Care Company
Posted 7/06/2012
On the Horizon: Transitioning LAQCs Before 30 September 2011
In December 2010 the government passed legislation which will see the popular Loss Attributing Qualifying Company (LAQC) tax structure come to an end. The preferred date for LAQCs to transition to an alternative tax structure is 30 September 2011. If you use a company structure and it is registered as an LAQC and have not planned a transition strategy with your tax people now is definitely the ... More
Posted 27/07/2011
What's Happening to LAQCs on 1 April 2011?
From the 1 April 2011 LAQC's (Loss Attributing Qualifying Companies) will cease to exist as we know them today. Inland Revenue are giving these companies the option of changing into another "style" of company or even move to a partnership or soletrader structure. The main two options most companies will move to are a QC (Qualifying Company) or the new LTC (Look Through Company). The final date for... More
Posted 3/03/2011
LAQC Upcoming Changes (Update 3)
Over the next day or so we're sending letters to all clients using a company trading structure with details of the LAQC tax changes and what to do. Please look out for this letter, read and respond accordingly <-- super important! Each company needs reviewing based on the new tax legislation to decide which changes should be made to ensure the best future tax outcome. As this review process ta... More
Posted 15/02/2011
Company incorporation price changes
Just a quick note to let you know we've reduced our pricing for company incorporations. This is due to the Companies Office making setting up a new company easier and easier - therefore it takes us less time to do this for you. Hope it helps! More
Topics: Kiwitax News Company
Posted 12/01/2009
Can I Be An Employee Of My Own Company?
Yes your company can become an employer and employ you via the payroll. This means that each pay day PAYE is deducted from your wages and on the 20th of each month the PAYE get's paid to IRD. Your wages become a cost to your business. You need to keep a wage book/record of each person’s pay each week - software that does this very nicely is Ace Payroll and can be found at www.acepay.co.nz. W... More
Topics: Business Employing PAYE Guides Company
Posted 21/10/2008 – Updated 3/09/2014
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