A much anticipated change to Income Tax Rates – a Payroll perspective. On 9th May 2024, The Hon. Nicola Willis reiterated the Government position on delivering income tax reduction for working New Zealanders. The last time changes in income tax thresholds took place, was 1st October 2010*. Whilst tax relief is most welcome in this […]

Here we go again…. Bright-line v4 The original Bright-line test was introduced with effect from 1 October 2015 and was designed by Inland Revenue as a simple way to capture tax on property speculation.  The intention test had proven to be almost impossible for Inland Revenue to apply with speculators buying and selling houses in

ACC: Standard Cover vs CoverPlus Extra Love it or hate it, ACC levies are all part and parcel of making money!  But don’t fret, we are here to help guide you and create an ACC world much easier to stomach. Let’s start with the basics: Standard ACC Cover This includes the standard CoverPlus policy which covers

Where is the coalition government at with changes to environmental regulations? Currently there is a lot of uncertainty over what the new coalition government will change in current environmental policy. This is what we know so far; Resource Management Act The new government repealed the Natural and Built Environment and Spatial Planning Acts, which were

Are you keeping up with the economy? Time for an Income Review. This is a message for business owners in the service/contracting industry: ensure you have reviewed your chargeable hourly rate. Inflation is easily noticeable and has been all over the news, and New Zealand’s Consumers Price Index (CPI) increased 4.7% in the 12 months

Taxing Times: New Zealand’s 2024 Tax Changes As the calendar flips to 2024, New Zealand braces itself for a series of tax changes that promise to shape the fiscal landscape for individuals, businesses, and the economy as a whole. In our opinion the tax changes in New Zealand for 2024 are poised to have far-reaching

The Minimum wage is increasing The minimum is set to increase again come 1st April 2024. The adult minimum wage will increase by 45 cents, from $22.70 to $23.15 per hour. The starting out, and training minimum wage will increase by 36 cents, from $18.16 to $18.52 per hour. These rates are before tax and lawful deductions. It