InfoBase - Kiwitax - Small Business & Rental Property Accountants

Paying Children Wages? Heads Up!

If you employ children in your business there's been some significant changes with regard to their taxation. Currently our understanding is as follows... From 1 April 2013 if your business employs school children you will need to do their wages through your payroll and deduct PAYE / income tax. This will apply to all businesses and school children employees. School children who do cash jobs li... More

Topics: Income Tax Business Employing Salary & Wages Guides

Posted 15/10/2012

New Kiwitax Rental Property Spreadsheets - Free to Clients

In addition to the recently released Kiwitax GST Spreadsheets there's now a new Kiwitax Rental Property Spreadsheet. Spreadsheets are an easy, cost effective way for property owners to keep track of their income and expenses. This new spreadsheet places the transaction amounts in the correct columns, provides drop down lists for quick selection of transaction types and totals everything up auto... More

Topics: Rental Property Record Keeping Client Care Accounting Software Freebies

Posted 9/10/2012

New Kiwitax GST Spreadsheets - Free to Clients

If you use a spreadsheet (Excel etc) for keeping track of your transactions and for preparing GST returns we've some good news! We've been polishing up our spreadsheet skills and have created some very nice 2 and 6 monthly GST spreadsheets for clients to use. There's also a nice 2 monthly non-GST one too. What makes these new Kiwitax GST Spreadsheets very cool is they work out if GST is applica... More

Topics: GST Business Record Keeping Client Care Accounting Software Freebies

Posted 25/09/2012

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

Topics: LAQC LTC Company

Posted 4/09/2012

First Kiwitax Client Update Email Sent

We've sent out the first Kiwitax Client Update email yesterday and have so far received lots of lovely feedback - thanks so much! If you are a client and didn't receive one we probably don't have your current email address - fire us an email via service@kiwitax.co.nz so we can add your address and send you the current update. Also it may pay to check your spam/junk email folders just in case it l... More

Topics: Client Care

Posted 23/08/2012

Improving Client Communications

We're always looking for better ways to keep Kiwitax clients up to date with key information. As well as posting to our News, Facebook and Twitter we're about to start sending regular news updates to clients via email. The plan is to send a brief update every few weeks or perhaps monthly containing any tax info and changes as required, upcoming due dates, hopefully a few tips and links and so on. ... More

Topics: Kiwitax News Client Care

Posted 17/08/2012

Important: First 2013 Provisional Tax Instalment Soon

On 28 August 2012 the first instalment of 2013 Provisional Tax is due. This will apply to anyone who pays Provisional Tax and has a March 31 balance date. Here's some key information to be aware of and what action you should take if required. Provisional Tax instalments are calculated by Inland Revenue based on the previous year's trading, or the year before that if the most recent tax return has... More

Topics: Provisional Tax Due Dates Client Care

Posted 1/08/2012

Coming Soon - 7 July 2012 - Do You Have a Tax Agent?

With 7 July 2012 income tax return due date quickly approaching now is the time to have your income tax returns filed if you do not currently have an extension of time. From Inland Revenue's website... 7 July is the due date for filing income tax returns if you don't have a tax agent with a valid extension of time. You may need to file a return if you are self-employed, run a company or have wo... More

Topics: Tax Returns Due Dates

Posted 27/06/2012

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

It's Not Us Making House Calls for Personal Tax Returns

Again this year we've been advised of some unprofessional people saying they represent us and are using dodgy sales tactics to get personal tax return work. Please note these people are not employed or represent Kiwitax in any way. It is quite likely they are fraudsters. We would like to confirm that... Kiwitax do not make house calls in any part of New Zealand We currently do not have any bra... More

Topics: Kiwitax News

Posted 29/05/2012

How to Correctly Calculate GST Figures

It seems quite a few people are incorrectly subtracting 15% from a GST inclusive amount to find the GST content and exclusive figures. We've posted a super clear tutorial on how to work out GST figures on Kiwitax InfoBase. Definitely worth a quick read if calculating GST amounts is a bit of a grey area. As always please ask if you have any questions! How to Correctly Calculate GST Figures More

Topics: GST

Posted 18/05/2012 – Updated 26/09/2014

How to Correctly Work Out the GST Content from a GST Inclusive Figure

We receive many questions asking why the result from our GST calculators is different than simply subtracting 15% off the total GST inclusive figure. Here's a step by step tutorial which hopefully helps explain how to calculate the amounts correctly and why subtracting 15% from a GST inclusive amount is wrong. First some basic calculations. Let's calculate 15% GST for a GST exclusive figure of $1... More

Topics: GST Guides

Posted 18/05/2012 – Updated 27/11/2014

Reminder: GST Return & Any Payment Due 7 May 2012

A quick reminder that the GST return and any payment for period ending 31 March 2012 is due to Inland Revenue by 7 May 2012. This is for 1, 2 and 6 monthly GST returns so pretty much applies for everyone who is GST registered. If you would like help with making your GST returns super easy or have any questions please ask. We're always happy to help and talking with us is always free. More

Topics: Due Dates

Posted 17/04/2012

End of Financial Year 31 March 2012 - Checklists & Information

The financial year is coming to an end and with this your Annual Financial Reports and Income Tax Returns will need to be prepared and filed with Inland Revenue before 31 March 2013. We're currently mailing all clients with a checklist and related information which should be arriving over the next week or so. It's important for all clients to go through the checklists as there's many things listed... More

Topics: Guides Client Care

Posted 21/03/2012

31 March 2012 - End of Financial Year

Just a quick heads up to clients that we're currently working on a mail-out to you with 31 March 2012 information, tips, checklists and so on. We hope to have this out to you in the next week or so and will update once done. In the meantime if you have any questions feel free to contact us. Thanks! More