CLIENT NEWSLETTER – SUMMER 2019/2020

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


Christmas close down period

We are closing for the Christmas break on Friday the 20th of December 2019 at midday and re opening on Monday the 13th of January 2020

We wish you a safe and happy holiday season and a Happy New Year.

Is your Christmas Spirit Tax Deductible? 

A reminder of the entertainment and FBT rules

Christmas is fast approaching and so is the time that businesses may reward customers and staff with Xmas functions and Xmas gifts. This article considers the deductibility of these expenses....Click here to read more 


Corporate Governance for small businesses

Good corporate governance is often viewed as important for large companies with an established board of directors. However, the principles that underpin good corporate governance can benefit any organisation, irrespective of size. Why is it then that the term governance often raises alarm bells with small business owners? Perhaps it's the fear of losing control over their business, or the assumption that they must report to someone else. When in fact, good corporate governance should lead to business owners feeling more empowered, more supported and more equipped to make good quality decisions........Click here to read more 


Court case - Tax avoidance arrangements

Two recent (connected) cases at the Taxation Review Authority (TRA) demonstrate that unnecessarily complex transactions can raise a red flag for IRD......... Click here to read more 

 

Property Sales - Business premises exclusion

The land taxing provisions deem certain sales of land to be subject to income tax, subject to a limited number of exceptions. One such is exception is for 'business premises'. However, the circumstances in which it applies can be a grey area. Hence, two recent 'Questions We've Been Asked' (QWBA) issued by Inland Revenue (IRD) are welcome. The treatment of business premises is different depending on the situation. The first situation is the bright-line provision that taxes the sale of residential property sold within five years of acquisition. For the bright-line test to apply, the land........Click here to read more 

Times are changing....

Developments in electronic payment methods and improved ease of online payments from your smartphone or tablet, means processing cheque payments has become a rather laborious task. However old habits die hard, and a significant amount of people continue to use cheques – Inland Revenue (IRD) alone received more than 430,000 cheques........Click here to read more


****************************************************************************************************************************

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.

If you do not wish to receive these E-newsletters please use the unsubscribe option below.




Get in contact

  • 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
    Make appointment
    Get Directions