InfoBase

Accounting & tax info, news and due dates

Check here regularly for all the latest tax information and news

Bitcoin & Other Cryptocurrencies – How to Tax?

April 24, 2018

Inland Revenue has recently given an update on its thinking on how Bitcoin and other cryptocurrencies should be dealt with from a tax perspective. Inland Revenue considers cryptocurrencies as property, rather than currency or money. This means that the normal tax rules that apply to personal property also apply to cryptocurrency. A person that deals in cryptocurrency or acquires cryptocurrency with a purpose of …

Read more

Minimum Wage Increase

April 23, 2018

The adult minimum wage is going up from $15.75 an hour to $16.50, with the starting-out and training rates rising too. Here’s what you’ll need to know for your business. When: 1 April 2018 What: The new minimum wage rates are: Adult — $16.50 an hour Starting-out — $13.20 an hour (up from $12.60) Training — $13.20 an hour (up from $12.60) Starting-out and training minimum …

Read more

Extension To The Bright-Line Test

From 29 March 2018 the bright-line test for residential property has been extended from 2-years to 5-years. This means any Capital Gains on the sale of your Rental Property (there is a main-home exemption) will be taxed if you buy and sell within a 5 year timeframe. The extended bright-line test only applies to properties for which an agreement to purchase the property was …

Read more

Compulsory Rental Property Insulation – Deductible or Not?

April 13, 2018

With the governments new legislation hitting in 2019 for landlords to insulate their rentals – questions have been asked whether this will be tax deductible or not. Unfortunately even though the government is forcing this rule – it doesn’t automatically translate into a tax deduction with IRD. The NZ Property Investors Federation approached Inland Revenue about this issue and this was their reply: The …

Read more

Record Keeping – Retail and Hospitality

February 1, 2018

A reminder that if you are running a till system for your daily takings, try and reconcile each day to the money received. Inland Revenue are increasing their review activity and one of the main source documents they ask for are the till receipts. They’re looking to see if the till receipt totals are significantly different to the amount of money banked – so …

Read more

Kiwitax | Stress-free accounting, Let's Chat

Stress-free accounting

Plain English communications, easy friendly systems, helpful people, unlimited free advice, IRD and ACC help Working efficiently ensures reasonable and accountable pricing with zero hidden cost.

Kiwitax | Easy IRD

Easy IRD

Consistently a professional, efficient service. Working with IRD becomes easy. Have your tax returns filed on time and know of any payments and when. Less IRD noise.

Kiwitax | Members of Accountants + Tax Agents Institute of New Zealand (ATAINZ) and Chartered Accountants of Australia & New Zealand (CA ANZ)

Professional team

Members of Accountants + Tax Agents Institute of New Zealand (ATAINZ) and Chartered Accountants of Australia & New Zealand (CA ANZ) ensures professional ethical service.

100% Satisfaction Guaranteed

Kiwitax services are 100% satisfaction guaranteed. If you’re not completely satisfied with our service please tell us. If we cannot put things right to your satisfaction we will provide a full refund. As a genuinely client focused business with many very happy clients we’re positive Kiwitax services will meet your expectations.

Kiwitax | MYOB Dimond Partner
Kiwitax | Xero Gold Partner & Certified Advisor
Kiwitax | BankLink Partner
Kiwitax | Members of Accountants + Tax Agents Institute of New Zealand (ATAINZ) and Chartered Accountants of Australia & New Zealand (CA ANZ)