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Advisory Updates ARCHIVE 

Tax & Compliance


83. Inflation is coming: should you increase your prices?

Chris Hickey, CA, Audit Manager

August 6th, 2021

With inflation likely to be on the way up, is it time to raise your prices? A few reasons why you should – and some reasons why not – so you can consider your next move.

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82. Rental tax changes are about to kick in - be ready

Tasneem Mukadam, CA

August 5th, 2021

Interest tax deductibility is being phased out for rentals – and the changes start coming into effect on 1 October. What will this mean for you?

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81. The seventh cause of poor cashflow

Chris Lynch, CA

August 4th, 2021

If current sales levels can't support your overheads and other cash demands, your business isn't viable in its current state. We can help you develop a plan to increase your sales & hold you accountable to doing so!

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80. The sixth cause of poor cashflow

Mangesh Naik, Associate CA

August 3rd, 2021

Are you in control of the spending in your business? Do you set budgets and monitor them monthly? We can help you trim the fat but not the muscle when it comes to reviewing your expenses. Get in touch to find out how!

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79. The fifth cause of poor cashflow

Chris Lynch, CA

August 2nd, 2021

Don't let poor margins destroy your cashflow and working capital. Small changes can have a massive impact on your gross profit margin & put more cash in your bank account. We'll show you the best strategies to do this.

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78. The fourth cause of poor cashflow

Chris Lynch, CA

July 30th, 2021

The right debt and capital structure makes a huge difference to the cashflow in your business. We can help you prepare a Cashflow Forecast and make simple changes to give you more cash. Get in touch! 

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77. The third cause of poor cashflow

Chris Lynch, CA

July 29th, 2021

Are your stock levels stifling cashflow in your business? Low stock turn means full shelves and an empty bank account. We can help you unlock more cash in your business cashflow

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76. The second cause of poor cashflow

Chris Lynch, CA

July 28th, 2021

When did you last review your accounts payable process? Have you compared your current suppliers' pricing with competitors' prices? Don't pay more than you need to. Talk to us about how we can help maximise your cashflow.

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75. The first cause of poor cashflow

Chris Lynch, CA

July 27th, 2021

Do you understand your cash lockup? Having your cash locked up in WIP or accounts receivable is a key cause of poor cashflow. We can help you create a Cashflow Management Plan and show you what's possible, in cold hard cash!

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74. The 7 causes of poor cashflow

Chris Lynch, CA

July 26th, 2021

Profitable businesses can and do fail because of poor cashflow. There are 7 key causes of poor cashflow. We can help you fix the causes instead of treating the symptoms. Get in touch now!

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73. Is your Airbnb income taxable?

Michelle Thompson, CA, Head of Tax and Compliance

July 23rd, 2021

Do you rent out all or part of your home short-term, through Airbnb, Bookabach, Holiday Homes or any other property rental platform? Special tax rules apply to calculating income and expenditure, depending on the type of property and its use.

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72. Slow payers cost you real money

Chris Lynch, CA

July 22nd, 2021

Growing electronic connectivity between small businesses, accountants, and financial institutions coupled with cloud accounting and traditional methods will help your debtor management.

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71. Claiming Home Office Expenses 

Tatiana Gakhovich, Associate CA

July 21st, 2021

If you’re a sole trader and do some of your work at home, you may be able to claim some of your household expenses as tax deductions if they relate to your business.

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70. The 10 ways to lift your margin 

Mangesh Naik, Associate CA

July 20th, 2021

There’s always room for improvement at the margin; small tweaks can massively boost your bottom line! How much extra would a 1% increase in gross margin give you?

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69. Fees on utes - things you need to know

Chris Lynch, CA, Managing Director

Natasha Hollows, CA

July 19, 2021

EV feebates will hit utes the hardest – three things you should know if you’re in the market for a new ute for your business. #companycar

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68. Paying Tax on Shares

Chris Lynch, CA, Managing Director

July 16, 2021

Investing on a share platforms like Sharesies or Hatch? Should you be worried about paying tax on your dividends or when you sell? We have some tips.

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67. Residential Property - the bright-line test and tax

Chris Lynch, CA, Managing Director

July 14, 2021

Recent changes to the rules are investment property and tax have created huge uncertainty, with more changes in the pipeline. Here's the picture so far.

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66. Surprise tax bill? Six possible reasons

Chris Lynch, CA, Managing Director

July 13, 2021

Did you, or someone you know, get a tax bill they weren’t expecting? Inland Revenue has released a list of six possible reasons. We can help you figure out which one might apply, or why your bill isn’t what you expected.

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65. Residential investment property and interest deductibility

Chris Lynch, CA, Managing Director

July 12, 2021

If you own an investment property and are confused about how some of the changes this year will play out, you won’t be the only one! Find out more about the proposals on interest deductibility that are still out for consultation.

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64. The Holidays Act is changing – but you’ll need to comply in the meantime

Natasha Hollows, CA

July 8th, 2021

The Holidays Act 2003 is getting an overhaul – but you’ll still need to be compliant in the meantime. We can help you navigate this tricky piece of legislation and get your holiday pay correct.

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63. Trusts and Information Disclosure

Tatiana Gakhovich, Associate CA

July 6th, 2021

Do you have a family trust or do you have obligations as a trustee? Catch up on the changes to requirements to disclose information to beneficiaries and Inland Revenue.

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62. Our Client Onboarding Experience

Michelle Thompson, CA, Head of Tax and Compliance

July 5th, 2021

Thinking of partnering with our firm? We have a seamless onboarding experience, starting with a complimentary meeting. We take care of all the boring stuff and ensure a hassle-free transfer from your current accountant. Get in touch!

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61. Profit Improvement: Adding value 

Chris Lynch, CA, Managing Director

July 2nd, 2021

Price isn’t everything. Show your customers the added value in what you have to offer them and back it up with stellar service.

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60. Debtor Management - The nuts and bolts

Becky Zhang, CA, Tax & Compliance Manager

July 1st, 2021

Good debtor management helps ensure day to day operations run smoothly and supports business growth and development. An understanding of the nuts and bolts will empower you as a business owner.

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59. Travel Allowances and Tax

Natasha Hollows, CA

June 29th, 2021

If you pay cash allowances to reimburse employees for travel, be aware of the conditions that determine whether the allowance is tax-free.

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58. Tax and property - ring-fencing rental losses

Michelle Thompson, CA, Head of Tax and Compliance

June 28th, 2021

Do you earn rental income? If so, you need to be aware of rules applying for the tax treatment of rental loses. Do you earn rental income? If so, you need to be aware of rules applying for the tax treatment of rental losses.

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57. Depreciation - What do I need to know?

Becky Zhang, CA, Tax & Compliance Manager

Tatiana Gakhovich, Associate CA

June 24th, 2021

Depending on your business, you may be able to claim a tax deduction for depreciation. Talk to us about how this applies to your business assets.

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56. Entertainment Expenses

Natasha Hollows, CA

Mangesh Naik, Associate CA

June 23rd, 2021

The rules and exemptions for entertainment expenses can be complex. If you're not sure, check with us on common types of expenses and their tax treatment.

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55. Motor vehicle deductions and GST 

Michelle Thompson, CA, Head of Tax and Compliance

Chris Hickey, CA, Audit Manager

June 22nd, 2021

Sole traders, partnerships, and trusts can claim deductions on motor vehicles for business costs and depreciation loss, for income tax and GST purposes. The GST side of this can be tricky so it’s important to understand how it works.

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54. Should you dive into tax pooling?

Chris Lynch, CA, Managing Director

Errol Burn, CA, Director

June 21th, 2021

Tax pooling can make it easier to manage unpredictable provisional tax payments. It can help smooth out business cashflow in uncertain times. Talk to us about how it works.

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53. Don’t trip! GST mistakes to avoid

Chris Lynch, CA, Managing Director

June 1th, 2021

Get on top of GST in your business by knowing when it’s due, what to pay, and using your accounting software.

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52. What's the difference between financial accounting and management accounting?

Chris Lynch, CA, Managing Director

June 1th, 2021

Do you know the difference between a financial and management accountant? If you’re keen to grow, switching to the benefits of management accounting could have a huge impact on your future destiny.

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51. Tax Disputes with the Inland Revenue

Chris Lynch, CA, Managing Director

June 15th, 2021

We hope that you, as a taxpayer, never have to deal with a tax dispute with Inland Revenue. However, if the situation occurs, it’s important to understand the process and act promptly.

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50. Managing Tax Debt

Chris Lynch, CA, Managing Director

June 10th, 2021

Managing your tax is important. If you run into tax debt, you have options, but you need to act straight away.

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49. 5 Ways to Improve Cashflow

Chris Lynch, CA, Managing Director

June 9th, 2021

When cashflow dries up, business problems start to multiply – so keep that cash flowing with these five simple strategies.

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48. Profit Improvement and Productivity

Michelle Thompson, CA, Head oif Tax and Compliance

June 8th, 2021

Anything your business can do faster or better than your competitors, sharpens your competitive advantage. Increased productivity can have a powerful impact on profitability.

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47. Buying or Selling a Small Business? New Tax could affect you

Chris Lynch, CA, Managing Director

June 3rd, 2021

Buying or selling a business this year? New rules mean there’s an extra layer of negotiation required from 1 July – and you’ll need to take expert tax advice.

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46. Budget Alert 2021 - Challenges and Opportunities for Business

Chris Lynch, CA, Managing Director

June 1st, 2021

Tagged ‘securing our recovery’, Budget 2021 presents challenges to Kiwi businesses but offers some opportunities.

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45. Minimum Wage: expect more increases

Michelle Thompson, CA, Head of Tax & Compliance

May 28, 2021

The minimum wage hike is now in action – and it’s increased every year since 2000. This is a great time to review your pricing as costs rise.

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44. Budget 2021: What's in it for you?

Chris Lynch, CA, Managing Director

May 24, 2021

The Wellbeing Budget 2021 was all about ‘securing our recovery’. So what did it bring for Kiwi business owners?

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43. New Superannuation Rate: are you on track for retirement?

Michelle Thompson, CA, Head of Tax & Compliance

May 19, 2021

NZ superannuation has just increased – are you on track for a comfortable retirement? It could be time to start making a few changes that will set you up for a better future. The sooner you start, the more you can build your retirement savings.  

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42. Is Property Still a Good Investment?

Chris Lynch, CA, Managing Director

May 18, 2021 

It’s becoming more expensive to own rentals, so is property still a good investment? The costs and risks may have risen, but it also has one distinct advantage… 

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41. Batch, Boat or Plane - Tax on Mixed-Use Assets

Chris Lynch, CA, Managing Director

May 14, 2021

Do you have a holiday home, boat, or aircraft that you use to earn income and also maintain for your own use? If so, special tax rules will apply for these mixed-use assets.

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40. Should I focus on profits or cashflow?

Chris Lynch, CA, Managing Director

May 12, 2021

Worried about your cashflow and the profitability of your business? Come and talk to us. We’ll review your finances and will highlight key ways to improve your cash position while keeping the profits rolling in.

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39. New FBT rate. Review employee perks

Chris Lynch, CA, Managing Director

April 12, 2021

Rewarding your team with vouchers or trips? Providing a car or a gym membership? FBT increases to 63.93% from April 1, so this is the perfect time to review your employee perks.

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38. Property and Tax update

Chris Lynch, CA, Managing Director

April 8, 2021

Are you up to speed with recent changes to tax rules for investment properties? If you own a residential rental or one used for short-stay accommodation, or if you are considering buying a second property, we can advise you on the tax implications.

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37. What does the new top tax rate mean for you?

Chris Lynch, CA, Managing Director

March 29, 2021

The top personal tax rate is increasing to 39% – who will this apply to, and what is Inland Revenue warning against? Do you need to make any changes before the new rate kicks in?

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36. The low-value asset threshold (of $5,000) for depreciation ends on March 16th

Chris Lynch, CA, Managing Director

March 29, 2021

The temporary increase to $5,000 for the low-value asset threshold for depreciation ends March 16th. For assets purchased on or after 17 March 2021, the new threshold will be permanently set at $1,000. Talk to us for more information.

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35. Should you buy or lease your business assets?

Chris Lynch, CA, Managing Director

March 26, 2021

Should you buy or lease your new equipment? We’ll review your current financial position, cashflow and cost base to decide whether buying or leasing is the right thing for the business.

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34. Tax shake-up targets property investors

Chris Lynch, CA, Managing Director

March 26, 2021

Big tax changes for property investors will have an impact on anyone who owns an investment property - your strategy may need to change, so let’s run the new numbers.

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33. New Trust Disclosure Rules

Written by Peter Speakman of Speakman Law and is reproduced here with his permission.

March 18, 2021

Applicable to all NZ trusts with immediate effect are new disclosure rules. Their scope and the means by which they have been introduced is quite extraordinary. 

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32. The minimum wage increases 

Chris Lynch, CA, Managing Director

March 8, 2021

From April 1, 2021, the adult, starting-out and training minimum wage rates are increasing. Talk to us about how this will impact your business.

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31. IRD communication - Changes in Legislation

Chris Lynch, CA, Managing Director

January 28, 2021

Some changes to legislation that may impact you or your clients have been brought to our attention by Inland Revenue. They fall into 5 main groups.

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30. How does an accountant save you money?

Chris Lynch, CA, Managing Director Lynch & Associates Limited

November 26, 2020

Want to cut unnecessary costs, optimise the most profitable parts of the business, and increase your overall return on investment? Let’s talk about how we can work together to support your ongoing business profitability.

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29. Staying on track with your personal budget

Chris Lynch, CA, Managing Director Lynch & Associates Limited

November 02, 2020

Don’t set and forget your Personal Budget! Monitor your progress to achieve your goals. Dedicate one hour each month to track how you’re progressing towards your budget. Need accountability? Get in touch!

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28. Understanding your numbers to improve your results

Natasha Hollows, CA

October 27, 2020

Understanding your financial reports improves decision-making and results as you can see the impact of your decisions and quickly take corrective action. Keen to Know Your Numbers and improve business decisions?

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27. Don't neglect your Balance Sheet  

Chris Lynch, CA, Managing Director Lynch & Associates Limited

October 19, 2020

Your business may be profitable but is it solvent? Your Balance Sheet is a key indicator of solvency; neglect it at your peril! Profitable businesses can & do go broke. Discover 4 areas of your Balance Sheet focus to maximise success!

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26. Demystifying your Balance Sheet  

Andrew Sargent, CA

October 2020

Unclear on the story your Balance Sheet tells? Don’t know how to calculate key ratios to measure the strength of your business? We can help demystify your Balance Sheet. The stronger it is, the stronger your business will be!

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25. Understanding your numbers to improve your results

Michelle Thompson, CA, Head of Tax & Compliance

October 2020

Understanding your financial reports improves decision-making and results as you can see the impact of your decisions and quickly take corrective action. Keen to Know Your Numbers and improve business decisions? . 

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24. Reasons To Look at Your Financial Reports

Chris Lynch, CA, Director Lynch & Associates Limited

August 5th, 2020

Making time to look over your financial reports each month is an important task for any business owner. We can give you an overview of what reports you'll need to help you build a thriving business.

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23. When to start budgeting?

Chris Lynch, CA, Director Lynch & Associates Limited

July 17th, 2020

We believe having a budget is essential for business success. Talk to us about creating a useful budget in your accounting software as a practical business management tool. We’d love to help you start planning for a great 2021 financial year!

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22. Tax Payment Management

June 2020

Becky Zhang, CA

We know you are looking for peace of mind when it comes to tax and we wanted to share with you that the IRD has used its new discretionary powers in s6I of the Tax Administration Act 1994 to extend the legislative deadline for paying your 2019 terminal tax.

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21. Understanding Your Statement of Cash Flows

January 2020

Michelle Thompson, CA, Head of Tax & Compliance 

Would you like to know more about the impact of your business activities on your cash flow? Your cash flow statement can give you great insight into your business operations. Book a session today to examine your financial reports with an experienced business advisor.

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20. Keeping your tax and expenses in check when you are self-employed

October 2019

Michelle Thompson, CA, Practice Manager

Working for yourself or running your own business? Set up a robust system for expenses and tax obligations so that you can focus on getting things done. Talk to us. We will take the headache out of your business accounting.

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19. What’s in the forecast?

September 2019

Chris Lynch, CA, Director Lynch $ Associates Limited

You don’t go fishing without checking the forecast, nor should you run your business without an annual forecast! Don’t live in your raincoat, waiting to get soaked - take control and talk to us about your business forecast. We’ll help you create sunshine!

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18. Changes to NZ GST rules for low-value imported goods

August 2019

Becky Zhang, CA

In an increasingly disrupted world, the laws surrounding consumer processes sometimes need to play catch up. From 1 December 2019, overseas businesses selling low-value goods to consumers in New Zealand may need to...

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17. Questions on GST? We can help

Michelle Thompson, CA

If your turnover (sales) was more than $60,000 over the past 12 months, or if you expect your turnover in the next 12 months to be more than $60,000, you must...

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16.Dividends and paying yourself as a director

Chris Lynch, CA

As the director in a limited company, dividend payments are the usual way for you to take money out of the company – and see a financial return on your investment into the company.

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15. The Trusts Act 2019

Chris Lynch, CA

The Trusts Act 2019, (No 38 of 2019) received the Royal assent on 30 July 2019. The Act takes effect 18 months after 30 July 2019. This transition period will allow trustees to review their existing trusts before the Act finally becomes effective.

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14. Your GST return is due soon

Becky Zhang, CA

You need to file your GST return at the end of every taxable period (this may be monthly, 2 monthly or 6 monthly depending on the frequency you have chosen for your business - you can check this with us). 

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13. Your income tax return 

Michelle Thompson, CA

Preparing for your return. You’ll need to ensure that your business accounts for the 2019 tax year have been settled before you file your return. We can provide a guide to preparing for your income tax return, or contact us today for more information.

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12.Pricing your product of service

Chris Lynch, CA

Five factors to consider: Price elasticity is an economic concept that you should get to know. It is instrumental in understanding demand for your product and the price you can set for it.

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11. NZ Budget 2019

Chris Lynch, CA

The Government delivered its first Wellbeing Budget on 30 May 2019. In line with its strong focus on social policy, the mental health sector, child wellbeing and social welfare all gained significant increases in spending.

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10. Registered Charities carrying on activities overseas

Chris Lynch, CA

The Charities Act does not specifically deal with international charities and activities. They assess each application they receive on a case-by-case basis, based on the criteria set out in the Act.

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09. The Tax on Capital Gains. Final Report.

Chris Lynch, CA

The TWG’s report was released on Thursday, 21st of February 2019.

It made the following key recommendations with regards to the New Zealand tax system:

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08. Should I lease or buy my business vehicle

Chris Lynch, CA

If you are looking at buying a new vehicle and require finance, the salesperson will offer you two options: lease or purchase. We have an analysis sheet to help you crunch the numbers...

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07. IRD's Mileage rates for 2018

Chris Lynch, CA

Motor vehicle expenses are generally deductible for income tax purposes, if the vehicle is used to help earn income for the business.

It is important to note that:

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06. Not for Profits – Top Trends

Chris Lynch, CA

Why do we call “Not for Profits” by that name?

Apparently it is to distinguish them from the “For Profit” sector. I read in the recent “Cause Report” published by JB Were the statement “One of the great difficulties in discussing the not for profit sector is definitions and seemingly synonymous terms.

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05. Schedular Payments

Chris Lynch, CA

If you are a contractor or engage the services of a contractor, you need to understand the changes to the withholding tax rules which came into effect on 1 April 2017.

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04. IRD's mileage rate increases for the 2017 

Chris Lynch, CA

The IRD's mileage rates for the 2017 income year for vehicles with business travel of 5,000 or less in an income year have been set as follows:

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03. NZ Budget 2017-2018

Chris Lynch, CA

Budget raises tax thresholds to address bracket creep.

Every taxpayer earning more than $52,000 will pay $1,060 a year or $20 a week less in tax from 1 April 2018. A taxpayer earning $22,000 will pay $560 or $11 a week less.

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02. Tax Credits

Chris Lynch, CA

Many New Zealanders are able to claim Working for Families Tax Credits (WFFTC) to assist them in meeting their living costs. However, some situations catch people out or cause unexpected issues.

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01. Working from Home? Claim your home office expenses

Chris Lynch, CA

If you have a home office for your business, you should be able to claim some of the running costs. It’s important to be aware of what you can and can’t claim, and the record-keeping involved in making a claim. How does it work?

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