Over the past few months President Donald Trump’s “One Big Beautiful Bill Act” received quite a bit of attention before it was passed on 4 July 2025 – but why the fuss. The key business facing elements included: 100% first-year deduction for U.S. spending on factories, data-centre hardware and other “qualified production property,” plus a […]
Snippets: The Big and the Beautiful Read More »
The Financial Markets Authority (FMA) has issued its first Financial Conduct Report (FCR). The purpose of the report is to be transparent about the conduct that it sees and the regulatory priorities it will focus on over the coming year. Regardless of size, businesses don’t operate in a vacuum and are increasingly being impacted by
Financial Conduct Report 1st Edition Read More »
On 22 May 2025, as part of the 2025 Budget, the Government introduced a new tax incentive called the ‘Investment Boost’, aimed at encouraging capital investment. It allows an immediate upfront deduction for 20% of the cost of an eligible asset. The new legislation applies from 22 May 2025. The Investment Boost applies to a
Imagine you are pulled over by a police officer and asked “were you speeding?”, however, your speedo is broken, so you’re actually not sure. That is how it can feel when Inland Revenue (IRD) notifies you of an audit or investigation. On the one hand you know it is ‘part and parcel’ of doing business,
Inland Revenue Scrutiny Read More »
On 24 February 2025, Inland Revenue released an Officials’ Issues Paper titled Taxation and the not-for-profit sector. The paper sought feedback on several potential areas including the taxation of charity-run businesses, the treatment of donor-controlled charities and long-standing exemptions that may no longer be fit for purpose. It marked the beginning of what could have
Feedback from charitable sector Read More »
Greetings, We welcome Spring with the longer days and slightly warmer temperatures. In the office we are currently focused on processing annual accounts for clients as quickly and efficiently as possible. We have seen some increased tax for many clients as a result of falling interest rates and rising dairy prices. Recently we have seen
From my desk: August – October 2025 Read More »
When the unexpected happens — a fire, flood, or major equipment failure — insurance proceeds can provide some welcome relief. However, from a tax perspective, how that payment is treated isn’t always as simple as it first appears. While many businesses instinctively classify insurance proceeds as taxable income, this is not always necessary. Applying the
Navigating insurance proceeds and tax Read More »
The weather has certainly turned and it’s getting much cooler in the evenings. Our farmer clients have been blessed with much needed rain and those that could keep milking until mid/late May. The milk payout is an all-time high so even with some extra stock food costs we anticipate some larger tax bills. Please contact
From my desk: May – July 2025 Read More »
Flu vaccinations are exempt from fringe benefit tax (FBT) if they are provided to employees either through a clinic set up on work premises, or where a voucher is given to the employee to use at their doctor or another clinic. This is because the vaccination falls under a specific exemption targeting a health and
Snippets: Paying for flu vaccinations Read More »
The schedular tax regime falls under the PAYE rules and typically applies to require tax to be withheld from self-employed individuals if they perform certain types of work, such as modelling or shearing. On its website Inland Revenue have noted non-compliance has been identified within the horticulture industry in relation to contractors not meeting their
Snippets: Schedular tax activity by Inland Revenue Read More »