Takeaway? New Zealand may be perceived as clean and green by the rest of the world, but we have a significant and growing problem. As a country we guzzle our way through approximately 295 million cups of takeaway coffee a year. But coffee cups are recyclable, I hear you say. Unfortunately not; they’re treated with […]
Snippets: Aug – Oct 2018 Read More »
WHY WE NEED TO ASK YOU FOR INFORMATION? New Zealand has passed a law called the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“the AML/CFT law” for short). The purpose of the law reflects New Zealand’s commitment to the international initiative to counter the impact that criminal activity has on people and economies
Anti-Money Laundering Legislation Read More »
The global economy is seeing New Zealand (NZ) taxpayers invest in overseas companies. However, many people acquire foreign investments without understanding how they will be taxed. Taxpayers that purchase shares in a foreign company should ensure they are familiar with the Foreign Investment Fund (FIF) rules. The FIF regime was introduced to prevent NZ taxpayers
The MBIE Labour Inspectorate have recently announced that they are going to prioritise employer compliance with the Holiday Pay Act. They expect businesses to calculate leave and holiday pay entitlements accurately. However, a growing number of non-compliance cases suggest that this is easier said than done, with both small and large businesses finding the rules
The Taxation (Annual Rates for 2018-19, Modernising Tax Administration, and Remedial Matters) Bill was introduced into Parliament in June 2018. The Bill seeks to improve tax administration and modernise the revenue system by making tax “simpler and easier” for individuals. However, the majority of the proposed improvements are heavily reliant on the success of the
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The idea of a four-day working week might previously have seemed like a dream, but one Kiwi company is looking to make it a reality. Perpetual Guardian recently concluded an eight-week trial of the shortened working week, with managing director Andrew Barnes, claiming it was a “massive success”, adding that he wants it to become
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Greetings Spring has arrived! Since we last chatted, we are a team member down, with Daniel leaving us to work in Auckland at the Airport. We suspect that there is a female involved. 🙂 We are in the recruitment process but is proving difficult to find a suitable replacement. This has meant we have fallen
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 »