Our Blog

National campaigned on reducing the cost of living for Kiwis, which in part it intended to bring about by  adjusting income tax brackets.  The Government has made good on its promise and announced in its Budget released on 30 May 2024 the adjustments to tax brackets noted below.  These changes are to take effect on […]

With the end of the financial year finally here, it’s crucial to organise your financial records correctly before forwarding your information to us. The benefits to doing this early are numerous. First, your tax position will be established early in the financial year, providing you with the much-needed time to plan your business affairs. Secondly, on the basis […]

It’s no secret – Labour was not fan of those involved in property.  Extension of the Brightline period, loss of interest tax deductibility and changes to tenancy laws were favoured policies of the Red Team that negatively affected property investors and tenants alike.  That story is changing now we are led by a National Government. Indeed, […]

If you are in the construction sector, be aware - Inland Revenue is telling businesses and sole traders in this industry to do the right thing and get on top of their tax obligations, or there will be consequences. The Commissioner has said if people do the right thing, they will help them. If they […]

If you’ve just read the article about the construction sector being scrutinised, you’ll know being audited by the IRD is a real possibility.  Anyone can be selected for an audit by the Commissioner.  Audits are time consuming and expensive too.  A way to manage this risk and associated cost is through Audit Shield Insurance.  You […]

People change banks and don’t close accounts. Individuals get sick and forget what investments they took out. People die, leaving insurance policies behind. Money sits in solicitors trust accounts and bank accounts. Money owing by IRD to individuals remains with the Commissioner.  These are common examples of unclaimed monies recipients miss out on.  Literally at […]

Trusts dominate the wealth landscape.  They’ve been used for eons and successive generation to hold and protect wealth.  Given the humble trust is such a popular vehicle to hold assets and produce income,  it’s no wonder the IRD have turned their attention to reviewing trusts to establish if they’re operating as they should be.  Unfortunately, […]

Did you celebrate 26 May with woops of joy and champagne?  Maybe you ought to have done as this was Tax Freedom Day. What’s that you might ask?  It a hypothetical day in our tax calendar that supposedly marks the time when Kiwis pay off their collective tax bill.  Thereafter, apparently, every dollar we earn […]

In our work we have the privilege of meeting some really interesting clients.  Recently, we provided advice and accounting services to Warren and Jennifer Kavanagh and their brainchild, Cedar Works.  In the process of our engagement, Warren gave us some of Cedar Works products to try and we were so impressed, we thought we’d share […]

Hello  Everyone, In politics land the equivalent of Christmas Day is Budget Day.  This year the Budget was delivered on Thursday 30 May 2024.  Like Christmas Day, some will be happy with what Santa Claws Nicola Willis provided.  Others will be suffering disappointment, citing Grinch behavior at the austerity of what’s on offer. Prior to […]

One of the most predicted changes the Budget introduced was a change to the trustee tax rate. As soon as the top marginal income tax rate increased to 39%, it was a forgone conclusion the Government would alter the trustee tax rate too. The only matter the jury was out on, was the timing. Clarification […]

If you’re asking where your slice of the Bread & Butter Budget is, you’re not alone.  Primarily, business per se weren’t the recipients of much Budget assistance. Those two thirds of the SME Community polled pre-Budget release certainly didn’t have their expectations dashed. That in itself was hardly surprising, given this was a Budget presented […]