Tax and Compliance

NEW ZEALAND LAW CAN BE DAUNTING. WE CAN TAKE CARE OF YOUR GST, FRINGE BENEFIT TAX, PAYROLL, (INCLUDING ALL DEDUCTIONS FROM EMPLOYEE EARNINGS) AND INCOME TAX.

Including business income,investment income (FIF's & PIE's), trust income and dividends. Financial Statements and Tax Returns can be prepared for all industries.

2024 Tax Changes
Minimum wage - From 1 April 2024 this is now $23.15
Tax rate thresholds have changed from 31 July 2024.
Contractors - If you are a contractor or you employ contractors, please ensure that an IR330C has been completed. Contractors are now able to elect for different withholding tax rates with the lowest being 10%. Please be aware though that if you elect the low rate, you may well have a tax liability at year end that you have not allowed for. Please follow the link under our 'News' page.
Depreciation on Commercial buildings - From 1 April 2024 Commercial properties can no longer be depreciated.
Low Value threshold has been reduced from $5000 to $1000. New assets purchased after 17 March 2021 will be subject to the new $1000 threshold test to ascertain deductibility. Assets costing in excess of $1000 may need to be capitalised and depreciated.
Provisional Tax Thresholds. For the 20/21 financial year the provisional tax threshold has been raised from $2500 to $5000. If your residual income tax is lower than $5000 you will not be a provisional taxpayer.
Brightline test has been reduced to two years effective from 1 July 2024