A self-proclaimed tax agent has been found by the Taxation Review Authority (TRA) to have taken an unacceptable tax position and demonstrated a high level of disregard for the consequences of claiming GST refunds over a two and a half year period. The taxpayer claimed a GST refund for five consecutive six month periods from […]
Slammed for gross carelessness Read More »
According to the Inland Revenue (IRD), commercial building owners should be denied a deduction for expenditure incurred in determining whether their buildings meet new earthquake protection standards. IRD’s draft Questions We’ve Been Asked pub00223, (QWBA) publication asserts that expenditure incurred on detailed seismic assessments (DSA’s) is capital in nature and therefore non-deductible because it relates
No relief for earthquake strengthening expenditure Read More »
New Regulations took effect from 1st April 2016. Any Person Conducting a Business or Undertaking (“PCBU”) is responsible for workplace health & safety. A business entity such as a company, trust, partnership or sole trader now has the primary duty under the new law to ensure health and safety of workers and other affected by
Health & Safety at Work Act 2015 Read More »
The compulsory zero-rating (CZR) of land rules have applied since 1 April 2011. The rules were introduced to combat a pattern of transactions where Inland Revenue (IRD) was paying GST refunds to land purchasers, but there was no corresponding GST returned by the vendor. Although simple in principle, mistakes are being made. To recap, the
Compulsory zero-rating of land Read More »
As seen through the media recently, errors within holiday pay calculations are more common than we’d like to think and not just limited to Government organisations. Due to the complexity of the calculations required to monitor and record holiday pay, errors or deviations from the Holidays Act 2003 (the Act) requirements can occur. This can
Holiday Pay Mishaps Read More »
The Government has recently announced a package of proposed tax changes that intend to reduce compliance costs and make tax simpler for businesses. The package is part of the Inland Revenue’s big picture ‘Making Tax Simpler’ initiative that aims to modernise and simplify the tax system. While the proposals will generally apply to all businesses,
Changes to how SMEs pay tax Read More »
Hi All The warm weather continues to hold with our farming clients enjoying a little rain but on the watch for facial eczema. This has also meant that we have received a few buckets of mushrooms – much appreciated. Our new staff have been inducted with: Anna – on reception; Caroline – contract Accounts Manager;
If you are struggling to pay your accountancy fees, please contact either Dorothea or Brenda Pittams so we can arrange a repayment plan. We know times are tough and we would like to work with you rather than referring you to a debt collection agency. There are options we can suggest to help. Communication is
Hughson & Associates Fees Read More »
Staff Leaving… As most of you are now aware, Luke Kemeys left us in November after four years of service. He’s working in Auckland until the middle of next year before embarking on some travel through the USA and then onto Brazil where him and a group of friends from university will support another university
Further cuts to ACC levies ACC must collect sufficient funds to cover the costs of all current and past claims. In 1999 the Government realised funding was insufficient to cover on-going costs of pre-1999 claims and therefore, introduced a ‘residual levy’ to build up adequate funds. The residual levy has been incorporated into the work
Snippets…Nov 2015 – Jan 2016 Read More »