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Latest Tax Legislation Changes
18th May - Professional Peers powerpoint presentation
Children Working
Children Working from 1 April 2013
If you employ school children, you must deduct PAYE from their wages.
As a child working you must complete a tax...
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Student Loans and Allowances
From 1 April 2013
The repayment rate for student loan deductions increases from 10 -12 cents.
The voluntary repayment bonus will be removed.
More... see IRD website
Changes to...
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KiwiSaver
KiwiSaver
Changes made in the Budget 2012 will come into affect 1 April 2013
The minimum contribution rate for employers and employees increases from 2% to 3%...
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Tax Credits
Tax Credit changes announced in budget 2012 effective 1 April 2013
Tax credits are no longer available for childcare and/or housekeeper as announced in the 2012...
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Employment Changes
The Minister of Labour has announced increases to the minimum wage rates from 1st April 2011....
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Beach houses and GST
Beach Houses and GST changes
Beware! Do you rent out your Beach House short term? AND is it owned by an entity that files GST returns?
With...
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Gift duty abolished
Gift Duty
Gift Duty to be abolished from 1st October allowing anyone to freely gift any amount to another person, charity or trust.
Previously amounts gifted over...
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ACC Levy Changes
ACC Earners Levy chagnes 1st April 2012
This has reduced from $2.04 to $1.70 per $100 of gropss earnings.
Inland Revenue Department, Work it Out calculators and...
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LAQC and LTC's
Loss Attributing Qualifying Companies (LAQC) and Look Through Companies (LTC) LAQC's are being removed from April 2011. The IRD's solution to their removal is the LTC.....
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Working For Families Tax Credit
As announced in the budget last year the definition of family income has now been expanded.....
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GST changes
Land transactions between registered persons will be Zero rated for GST providing ...
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Building Depreciation
Building Depreciation
Effective for 2012 financial year depreciation on buildings with an estimated useful life of over 50 years will cease.
Examples of Buildings with an estimated...
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Return to Taxation
