Earlier this year, Inland Revenue (IRD) released an officials’ issues paper titled “Fringe Benefit Tax – Options for Change”. The paper sought feedback on potential reforms to the FBT regime. The most notable proposals related to the application of FBT to motor vehicles, particularly utes. In the May 2025 Budget, the Government signalled support for […]
If you or your friends or neighbours have solar panels on the roof of their home it is likely the excess electricity is being sold back to the retailer for a credit on the bill. It is also likely that not much thought has been given to whether that ‘credit’ is actually taxable, however Inland
Online scammers and phishing attacks have become extremely sophisticated lately. Hence, it is understandable that we are constantly warned to be vigilant and on the lookout for the next attack. But as focus shifts to looking outside the organisation, an eye needs to be kept on what is going on within the organisation. Internal fraud
Don’t forget the risk from within Read More »
As we roll into the festive season and the weather improves, we are all looking forward to a well earnt break. The crew at Hughson & Associates have worked hard this year to pump through the jobs quickly so that clients have the information at hand to plan for the upcoming year. We will be
From my desk: November – January 2026 Read More »
A Portfolio Investment Entity (PIE) is a type of investment vehicle that is able to pay tax on behalf of its investors, and depending on the ‘prescribed investor rate’ chosen, the tax liability on the income is able to be capped at 28%. This can be a material benefit to investing in a PIE –
Snippets: A good PIE 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 »
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 »