Allowances paid to employees can be a slightly tricky area to deal with. Some allowances are taxable to the employee and other are tax free. Examples of non-taxable allowances: Where an employee is working at a distant work location where they could not be reasonably expected to travel home on a daily basis accommodation or…
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The following article featured in the news recently http://www.stuff.co.nz/business/80456776/it-contractor-megan-mary-osullivans-unpaid-tax-bill-topped-500000. The “head in the sand” approach to paying tax led to a massive tax bill for the taxpayer. Points to note from this case are: If you intend to be self-employed, or set up a company or trust structure for business you need to be putting money…
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Our next client seminar looks to answer all those questions you may have had about KiwiSaver. We cover off employer obligations and payroll requirements, how you might be able to use KiwiSaver funds for a first home, how funds are managed, and frequently asked questions about the scheme. The presenters include one of our in-house tax…
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Accounting has changed considerably over the last few years. While in the past accounting meant dealing with piles of papers; now information is mostly in electronic format. The IRD sets out their requirements for retention of electronic data in the Electronic Transactions Act 2002 (“ETA”) and Electronic Transactions Regulations 2003 (“ETR”). ETA requires that for…
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With Paid Parental Leave increasing to 18 weeks from 1 April 2016 we thought we’d take the chance to update you on what you can expect as an employer, an employee or as a self-employed person. Please note that this post covers only paid parental leave. Extend unpaid leave is also available for new…
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