It is with a heavy heart we say farewell to Dorothea, who is retiring on 01 June 2017. Dorothea (also known as “Dotty” or as she would prefer “Duchess”) has put together a few final words. “The time has come for me to ‘bow out’ and enter another journey of my life. I have enjoyed […]
Introducing… Daniel Keller, Client Manager. Accounting in school is where I found my passion for the profession. I went to Massey University in Palmerston North to study a Bachelor of Accounting. Halfway through, I decided I wanted to work alongside University, so now I work at Hughson & Associates while studying part-time. In my
Nordic Tax Records It’s often considered taboo to ask other people how much they earn. So what would you do if you could look up how much your colleagues, neighbours and friends make, all legally, online and for free? Well this is what happens in some Nordic countries! Norway has had an ‘open salary policy’
Snippets: May – July 2017 Read More »
New Zealand has taken a battering in recent years from major disasters including earthquakes, fires, cyclones and floods. These have caused business disruptions, devastated lands, and damaged our capital’s infrastructure and homes. Where insurance is received, a question often asked is how these receipts should be treated for tax purposes. Whether insurance proceeds are taxable
Taxation of Insurance Receipts Read More »
Effective 01 April 2017, the Government announced that the adult minimum wage increased by $0.50 cents to $15.75 an hour.
Minimum Wage Increase Read More »
On 8 December 2016, the Minister of Revenue, the Hon Michael Woodhouse, released the discussion document, “Making tax simpler — proposals for modernising the Tax Administration Act”. The document contains detailed proposals developed following the first round of consultation in November 2015. In November 2015, the Government released the discussion document, “Making Tax Simpler: Towards
Further TAA Consultation Announced Read More »
The Student Loan Scheme (Repayment Threshold) Regulations 2016 came into force on 1 April 2017 and increased the annual repayment threshold for the purposes of the Student Loan Scheme Act 2011 from $19,084 to $19,136 for the tax year commencing on 1 April 2017 and subsequent tax years.
Student Loan Annual Repayment Threshold Increased Read More »
On 7 December 2016, the Acting ACC Minister, the Hon Nathan Guy, confirmed the ACC levy rates for the 2017/18 and 2018/19 years. The Minister said that there will be reductions totalling $126.2m per annum to work and motor vehicle levies, while the earners’ levy will remain unchanged. The announcement means that: the average
Further ACC Levy Reductions Read More »
Partnership income earned as a result of “active” (physical or administration) involvement is liable for ACC levies, which will be invoiced by ACC. If your involvement in the partnership income is an administration only role we can change your classification to “administration”. If your share of this income is received in recognition of your capital
It is important for individuals to correctly determine their residency status for tax purposes, as a New Zealand tax resident is taxed on their ‘worldwide income’. A person is considered to be a New Zealand resident for tax purposes if they have been physically present in New Zealand for more than 183 days in any
The Perils of a PPOA Read More »