A quick update on the extension of the Bright-Line Test and the status of the Overseas Investment Amendment Bill. Extension of the Bright-Line Test The Taxation (Annual Rates for 2017-18, Employment and Investment Income, and Remedial Matters) Act (“the Act”) received Royal Assent last Thursday, being 29 March 2018. The Act amends a number of…
Are you renting your home or holiday home over the holiday period? If so, you should read the Ministry of Business, Innovation and Employment’s article below which covers: creating and enforcing a holiday rental agreement tax obligations, if any insurance cover health and safety and consumer laws claimable expenses and record-keeping. https://www.business.govt.nz/news/short-term-rentals-what-you-need-to-know/?
The IRD has released a helpful booklet in relation to Fringe Benefit Tax (“FBT”) and its application to motor vehicles. FBT arises when an employer makes a motor vehicle available to an employee for private use in connection with their employment. The booklet provides a clear explanation of what constitutes private use (e.g. travel between…
Kirsten Murfitt Law in conjunction with OPES Partners would like to invite you to come and learn about property investment and how you can profit from it. We are running a one hour workshop on Wednesday 22nd of March at 6:00pm. Come and hear how you could you could use property on your pathway to…
For those that are interested, here is the link to the article and video about our move to Tauranga 19 months ago. We have never looked back. With Skype and technology I am able to provide legal services to clients around New Zealand for a fraction of the price that a firm in Auckland may…
Are you hiring students or casual staff over the Christmas and New Year period? Did you know the following: Exemption from Student Loan Payments: If you employ full-time students and they earn under $19,084 for the 2016/2017 tax year they can apply for an exemption from making student loan repayments on the wages or salary…