CLIENT NEWSLETTER – AUTUMN 2022

In each article below we have given a short summary of the topic so if you would like to read more please click on the link to our website for the full article and newsletter.

 

Its hard to believe we are nearly at the end of another financial year. 

We have put together some things you may need to consider before 31 March, on 31 March and after 31 March. Click here to read more

If you have any queries about this, please contact us.

 

2022 Client Annual Checklists

These have now been published and can be found on our website under the tab "Financial Resources" or by following this link .

 

7 April 2022 Terminal Tax is coming up fast!

This is a reminder that you may have a 7 April 2022 Terminal Tax payment due. 

If you have Terminal Tax payable you should have received an email or snail mail IRD reminder letter from us by now.

If you haven't received a reminder it could be because you don't have an amount payable or you may have paid the Terminal Tax early.

Please contact us as soon as possible if you think you may have a payment due or are unsure because missing your Terminal Tax payment will result in penalties and interest from the IRD.

If cashflow is tight, we have an option. Through Tax Traders, our tax pooling partner, we can defer your terminal tax payment until the 5 October 2022 but you must have a tax pooling arrangement in place by 21st of June 2022. Please contact us if you would like to know more as there is eligibility criteria that must be met to have the deadline extended. 

 

Short Process Rulings

It is inevitable that at some stage a person will undertake a transaction where the applicable tax treatment is complex or unclear. This could be due to a complex factual scenario, new legislation, new Inland Revenue commentary, or the existence of complex or poorly drafted legislation.  An option to mitigate risk and acquire certainty is to apply to Inland Revenue for a ruling in which Inland Revenue agrees,....Click here to read more


Tax Due Diligence when buying or selling

The summer break is a time for reflection on the year that has been. For business owners, this break is an opportunity to evaluate their future strategy and consider whether it is time to exit, or conversely, grow by purchasing someone else's business. Whether buying or selling, it is a demanding exercise. .....Click here to read more

 

Common Error - claiming GST on FBT

For those of you who prepare and file FBT returns on behalf of a GST-registered employer, you will be familiar with the GST on FBT adjustment that forms part of the FBT return. The adjustment itself is straight-forward and involves calculating GST on the gross taxable benefits that are subject to GST, and including this as part of the FBT payable. However, a very common misunderstanding is that this GST amount is then able to be claimed in the GST return.  ....Click here to read more


Broader effects of Covid -19

Over the last two years most of us have had to deal with working from home in some way, shape or form, and for those who are parents, added difficulties arose with trying to entertain and educate children whilst also fulfilling employment duties.  Employers have helped employees as much as possible, in some cases providing specific time to deal with home pressures with no impact on the employee's income......Click here to read more

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Please note: The above E-newsletter notes and the related articles on our website are of a general nature and therefore we urge clients who may be affected by these changes to contact us to discuss your specific circumstances before making any changes or drawing any conclusions.

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  • Takapuna Office

    Ground Floor, Takapuna Finance Centre
    159 Hurstmere Road
    P O Box 331 626
    Takapuna, Auckland

    Phone +64 9 414 4050
    Fax +64 9 447 1645
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