What is Depreciation & How Does it Work?

As a business owner or property investor you’re entitled to make a tax claim for depreciation – but what exactly is depreciation? It’s best described as the devaluation of your assets over a number of years and different assets have different life spans so that’s why the depreciation rates differ. An asset is defined as an item costing over $500 which will be used on an o... More

Topics: Income Tax Claimable Expenses Depreciation Accounting Business

Posted 23/07/2017


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


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


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


100% Claimable Exercise Programmes

IRD have teamed up with the Exercise Association of New Zealand with an initiative called SMEAEP: Stress Management Exercise Association Endorsed Programme. The idea behind the initiative is that exercise and lifestyle changes play a huge role in managing stress levels in the workplace. If you are an employer, there is no FBT adjustments on SMEAEP endorsed programmes which you provide to your emp... More

Topics: Claimable Expenses Accounting Business Employing Links

Posted 20/03/2017


We're Sponsoring the NABBA National Body Building Champs

We are proud to be sponsoring the National Amateur Body Building Association's finals competition, which is being held in Napier this year. This is an exciting opportunity for us to convey our advocacy for health & fitness and support the athletes dedication and passion to their sport. If you're coming to town for the competition, let us know and we'll track down some goodies for you! More

Topics: Freebies

Posted 15/09/2016


Website Upgrade - Uploading & Managing Files sent to Kiwitax

Based on client feedback, we've enhanced the area on our website where clients can upload electronic documents to Kiwitax. You can now view, manage and delete the files as you go. Once the team retrieve your files (usually the next morning) they will be deleted and no longer displayed here. If you are sending documents through in increments, please let us know so we can leave the documents availab... More

Topics: Kiwitax News

Posted 15/09/2016


Due Dates for September 2016

PAYE: 1 Monthly PAYE Return and payment for the period ended 31 August due 20 September. GST: 1 Monthly GST Return and any payment for the period ended 31 August due 28 September. Any questions about these dates, filing your returns and anything else please contact us More

Topics: Due Dates

Posted 15/09/2016


Paying Kiwitax Online

To make it more convenient for you to pay your Kiwitax invoice we have a credit/debit card facility with Kiwibank. If ever you’d like to use this facility, simply click on the direct link, enter your details (name and invoice number) and even email yourself a receipt! Just a reminder we don’t charge a surcharge for using your credit card, so if you want to benefit from extra time to p... More

Topics: Links Kiwitax News Client Care Freebies

Posted 28/07/2016


Travel To Your Rental Property & The 'Cost' Of Your Labour

For our Rental Property clients to make the most of their tax deductible mileage claims you need to keep a record of your rental-related travel. A trip to Mitre 10 to buy a new smoke alarm, followed by a 20km round trip to your rental property to install it - it all adds up. A simple hand written or spreadsheet log with dates and distances will do the trick. To help make this process a little eas... More

Topics: Claimable Expenses Rental Property Freebies

Posted 13/07/2016


Due Dates for July 2016

PAYE: 1 Monthly PAYE return and any payment for June is due 20 July. FBT: Quarterly FBT return and any payment for period end 30 June is due 20 July. GST: 1 Monthly GST return and any payment due for period end 30 June is due 28 July. Any questions about these dates, filing your returns and anything else please contact us More

Topics: Due Dates

Posted 13/07/2016


Due Dates for June 2016

PAYE: 1 Monthly PAYE return and any payment for May is due 20 June. GST: 1 & 2 Monthly GST returns and any payments for period end 31 May are due 28 June. Income Tax Return: Return for the last financial year is due 7 July 2016. Please Note this 7 July due date applies ONLY for people who do not have an extension of time normally available by using a Tax Agent - nearly all Kiwitax clients w... More

Topics: Due Dates

Posted 14/06/2016


Due Dates for May 2016

GST: 1 Monthly GST return and any payment for period end 30 April due 28 May. PAYE: 1 Monthly PAYE return and any payment for period end 30 April due 20 May. FBT: Annual & Quarterly FBT return and any payment for period end 31 March 2016 due 31 May. Any questions about these dates, filing your returns and anything else please contact us More

Topics: Due Dates

Posted 14/06/2016


Due Dates for April 2016

PAYE: 1 Monthly PAYE return and any payment for March is due 20 May. GST: 1, 2 & 6 Monthly GST returns and any payments for period end 31 March are due 09 May. FBT: Quarterly FBT return and any payment for period end 31 March are due 31 May. Any questions about these dates, filing your returns and anything else please contact us More

Topics: Due Dates

Posted 14/06/2016


Due Dates for March 2016

PAYE: 1 Monthly PAYE return and any payment for March is due 21 March. GST: 1 Monthly GST returns and any payments for period end 29 February are due 29 March. Income Tax Return: Annual income tax returns for NZ tax payers with income from self employment, business and rental property for financial year ending 31 March 2015 need to be filed with IRD by 31 March 2016. Any questions please ask us.... More

Topics: Due Dates

Posted 16/03/2016