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Tax Updates & News

Tax changes to Trusts in new Zealand

Budget Summary for Small Business Owners with Trusts in 2024

From 1 April 2024, trustee income tax rises to 39%. Trusts earning <$10,000/year and certain special trusts stay at 33%. Inland Revenue clarifies what actions are acceptable. Will this apply to your trust and what actions should you take if it does?
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NZ Budget announces tax relief package to thousands of New Zealanders.

New Tax Thresholds in 2024 Budget

The New Zealand government has unveiled its 2024 Budget with a core election promise delivered regarding tax relief of $2.57b through bracket adjustments. With an adjustment to income brackets, tax rates remain the same but the thresholds are raised.
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New FamilyBoost credit set to east costs of living as part of Budget Day

Are you eligible for the new FamilyBoost Credit?

Great news for hardworking families! Starting July 1st, parents can get up to 25% of their (ECE) fees reimbursed, up to $75 per week. Eligible families earning up to $180,000 can apply, with details available on Budget Day, May 30, 2024.
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Navigating NZ government tax changes on property, trusts and bright-line tests.

Navigating Tax Changes in NZ – What You Need to Know

Stay ahead of the game with the latest tax updates in New Zealand. From changes in property taxation to adjustments in trust tax rates, we've got you covered. Learn how these shifts will affect you as a property owner, investor, or trustee.
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A National-led government will lead to tax, interest, and bright-line changes to Kiwi Business owners. Here's what you need to know.

What will a National-led government mean for your taxes?

Are you wondering about what are National’s proposed tax changes? Here's what you need to know about shifted income tax brackets, restored interest deductibility, a two-year bright line test and FamilyBoost.
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Budget impacts on business including tax rates and childcare

The ‘No frills’ 2023 budget – What does it mean for you?

What’s in this Budget for the Kiwi business owner? From trust taxes to apprenticeships, to avoiding a recession, we look at the items most likely to impact you.
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Our experienced business advisors answer what kind of expenses are tax deductible for your small business.

Clothes, rent, meals – what is tax deductible?

What expenses are tax deductible for your small business? Meals with clients, mortgage interest payments, and work uniforms could all be claimable – our quick Q&A will help you learn more.
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Inland Revenue is changing the GST Filing period for hundreds of customer automatically from mid January 2023

GST Filing Frequency changing for some customers

From mid-January 2023 the IR has started issuing notices to customers advising them of automatic changes to their GST filing frequency. Here's what you need to know.
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Tax Invoice GST changes to record-keeping

GST changes for invoices coming – what you need to know

Inland Revenue is making changes to GST invoices – so e-invoicing is now legal even without a PDF or any paper records. Here's what you need to know!
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Is Audit Tax Insurance Right for me?

Is Tax Audit Insurance right for me?

Worried about the costs relating to being targeted for a review or audit by Inland Revenue? It might be time to consider Tax Audit Insurance. Here are the most Frequently asked questions regarding Accountancy Insurance.
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