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Summary of IRD rates Use-of-money interest – the rates on underpaid and overpaid tax rose on 8 May 2015. The interest rate charged on underpaid tax went from 8.40% to 9.21%, and the rate for overpaid tax rose from 1.75% to 2.63%. This movement aims to align the rates with the market interest rates and

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2015 Budget

The 2015 budget didn’t really throw up anything too exciting. If you are interested, here is a brief summary courtesy of CCH New Zealand: “No surprises” Budget — well, mostly The big tax headlines were made prior to the budget, with pre-Budget announcements extending the tax rules for residential property sales. Budget 2015 sees some

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Do Hughson & Associates pay wages and/or PAYE on your behalf?

Attention all wage clients, if we complete wages and/or PAYE for you and/or your business/company/trust etc, could you please make sure that you are informing Lillian with any of the following leave/bonus details: Sick leave taken Annual leave taken Statutory/Public holidays worked – employee will receive time and a half plus a day in lieu

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International measures to prevent tax evasion When some individuals move overseas they stop fulfilling their NZ tax obligations (e.g. student loans and child support). In 2012 NZ signed up to The Convention on Mutual Administrative Assistance in Tax Matters, however it only came into effect for NZ from 1 January 2015. As a result of

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