Greetings We are now in full tax season (like spring time on the farm) and our move to Xero is starting to show efficiencies. The team are still refining their abilities on the new system, so further efficiency awaits….I hope. On the MAAT front, we completed the $42m purchase of Cameron Road, Tauranga and our […]
Cryptocurrency and tax Over the last decade, the use of digital or virtual currencies, known as “cryptocurrencies”, has grown dramatically in popularity. A single piece of Bitcoin is currently valued at over $9,000 NZD. Some New Zealand retailers have already begun accepting Bitcoin as a form of payment, which has led to the Inland Revenue
Snippets: May – July 2018 Read More »
On 3 April, Inland Revenue issued a draft ‘Questions we’ve been asked’ (QWBA) covering the tax treatment of allowances and benefits paid or provided to farm workers. A key principle covering such payments centres on the tax treatment of ‘reimbursing allowances’ – this is relevant not just to farm workers but all employees. Reimbursing allowances
Reimbursing allowances Read More »
The bright-line test came into force from October 2015, introducing rules that a profit derived on the sale of a residential property is subject to tax if sold within two years of purchase, albeit subject to some exceptions such as the family home. These rules have recently been revised to extend the bright-line period from
Bright-line breach warning Read More »
Labour’s pre-election manifesto proposed to increase the fairness of the tax system and improve housing affordability. In the six months since the Labour-led coalition entered Parliament, we have started to see some changes filtering through. As part of the proposals aimed at house prices, Inland Revenue has recently released an Issues Paper proposing to ring-fence
Ring-fencing rental losses Read More »
How often have you found yourself vowing to improve your health or fitness? If you are anything like the majority, chances are at some point you have embarked on some fad diet or joined the latest fitness craze in an attempt to get healthier, only to find yourself succumb to the temptation of those pesky
Health in the Workplace Read More »
Maat Consulting is pleased to advise that they are preparing a Product Disclosure Statement to raise equity for the purchase of a commercial office / retail property located at 306 Cameron Road, Tauranga. Key elements of this investment opportunity include: The offer will be made as an Equity Investment, whereby shareholders have the right to
New Equity Investment Opportunity Read More »
After work drinks A recent study found that up to one in five office workers enjoy going for a drink with co-workers at least once a month. This begs the questions as to whether after-work drinks are good for a person’s career. Although there is clearly no direct link, there can be undeniable benefits to
Snippets – Feb : Apr 2018 Read More »
There is a growing trend for businesses today, whatever their size, to move to the “cloud”. The cloud is an online platform to make data and software accessible, anytime, anywhere and from any device. Gone are the days of being chained to your desk in a small cubicle. Now, with your data in the cloud,
Advantage and Disadvantages of Cloud Accounting Read More »
The loss offset (and subvention payment) mechanism allows a ‘profit’ company to reduce its taxable income by utilising the tax losses of a ‘loss company’. The mechanism is a great tool that is commonly used. Before a loss offset can be made, the following key requirements must be satisfied: The loss company must have maintained
Loss Offsets and Subventions Read More »