Industry Advice on Finance, Business & Tax for the New Zealand Market

Talented and dedicated youth from North Harbour were honoured at the North Harbour Club's 'AIMES Emerging Talent and Scholarship Awards' on June 13th, with 16 individuals recognised for their outstanding achievements across Arts, Innovation, Music, Education, Sport, and Service to the Community.

The Government's 2024 budget focuses on building a more productive economy, delivering efficient public services and restoring fiscal discipline.

This article explores whether a company can undergo a major shareholding change without losing its tax losses. It examines the conditions under which tax losses can be retained, providing clarity on this complex aspect of tax law.

As the end of the tax year approaches, it's essential to prepare your income tax return promptly to avoid late filing penalties. While the process may seem overwhelming, proper planning and information can streamline it significantly. This article outlines key recent tax changes that may impact your filing, helping you navigate your obligations efficiently and effectively.

With the temperature continuing to rise around the world, it is important for everyone to do their part. The carbon trading system is part of the New Zealand Government’s Emissions Trading Scheme (ETS) and provides a unique opportunity for businesses to reduce their carbon footprint and address the impacts of climate change.

We examine the intricacies of entertainment expenses and fringe benefit tax (FBT) in New Zealand, highlighting key considerations for businesses. It clarifies what qualifies as taxable benefits, offers practical tips for managing FBT obligations, and explores strategies to maximise tax deductions. Understanding these elements is essential for businesses aiming to optimise their tax position while ensuring compliance with relevant regulations.

In an ever-evolving business landscape, ensuring proper compensation for shareholders and employees remains crucial. This article explores the two primary payment methods for business shareholders: shareholder salaries and PAYE (Pay As You Earn). It outlines the advantages and potential challenges of each approach, helping you determine which option best aligns with your unique circumstances. By understanding these payment structures, you can make informed decisions that optimise both compliance and financial benefits for your business.

Navigating the complexities of estate planning can be as challenging as a bobsledder's training run, with unexpected twists that could lead to difficulties. In the second part of this series, we delve into the intricacies of ensuring a fair and equitable distribution of assets to beneficiaries after a loved one's passing.

The Inland Revenue Department's recent report on the Fringe Benefit Tax (FBT) regime evaluates its regulatory stewardship under the Public Sector Act 2020. This review analyses the current structure and functionality of the FBT system while assessing its future adaptability to evolving business environments over the next 5 to 10 years.

With inflation rising and impacting every aspect of daily life in New Zealand, businesses must carefully monitor cash flow to navigate increasing costs. By managing outflows effectively and optimising spending, companies can better weather economic uncertainty. This article provides key strategies to help businesses safeguard their financial health and maintain stability in challenging times.

Budget 2022 saw funding dedicated to the Research and Development Tax Incentive (RDTI). With Callaghan Innovation Limited and the Inland Revenue Department working together to evaluate entitlement upon review, the RDTI operates as a tax credit to incentivise businesses and individuals who perform R&D activities that are carried on in New Zealand.

The end of the financial year end is fast approaching. 2021 has been a year filled with uncertainties and challenges. In this article we cover off important changes already in force in 2021 as well as some of the recent developments relevant for businesses and personal matters from a tax perspective.