Accounting and Tax

11 Dec 18

Tax Implications on Short-Term Accommodation Rentals

The rapid increase in internet holiday bookings using sites like Book-a-Bach and Airbnb, offers fast and viable opportunities to make some additional cash. Renting out your spare room or holiday bach has never been easier. These websites have significantly changed the accommodation. Much of the pain and time-consuming administration associated with advertising properties, screening potential […]
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Why Ring-Fencing will Punish Residential Property Investors

This article discusses how the proposed legislation to “ring-fence” residential rental losses could negatively affect residential property investors. The current governments is committed to pursue it pre-election promise to “ring-fence” rental losses. It apportions blame for the housing price inflation squarely on residential property investors and speculators. Its policy ignores the true cause of house […]
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Non-Resident Withholding Tax (NRWT)

If you’re a Kiwi tax resident and pay interest, royalties or dividends to a non New Zealand resident, the following will help explain New Zealand’s approved issuer levy (AIL) and non-resident withholding tax (NRWT) rules. Approved issuer levyIf you pay interest to non New Zealand tax resident bank or lender, you must deduct a percentage […]
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The Successful Entrepreneur’s Mind-set

Following on from last week’s article about adopting an Olympian’s mind-set in business, we should consider a similar correlation with how to become a successful entrepreneur. With the right mind-set, anyone can become a successful entrepreneur.  The question is:  Do you have one? What makes a successful entrepreneur?  Let’s start with a simple definition for […]
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Essential tax implications of employee and contractor agreements

The IRD’s recently updated guidelines on determining employment status for tax purposes serves as a timely reminder that establishing your tax status is essential.  Are you an employee or contractor?  Let’s discuss this in more detail.  If you’re engaged to carry out work, your employment arrangement may have significant implications for tax purposes.  It’s essential […]
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Will you run the gauntlet with the IRD?

Bill English announced in his recent Budget that he was giving the IRD an extra $78.4m over the next four years to fund increased audit activity.  This is likely to have disastrous consequences for those small business owners who keep poor accounting records and have prayed they have stayed “under-the-radar”. The IRD has begun to […]
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