Our goal is to help all clients reach their potential, including private individuals, owner operators, charities, not-for-profit & public sector organisations and listed companies with overseas operations.
2020 is nearing an end and what a year it has been! As the international response to the Covid-19 outbreak continues we are working closely with clients both domestically and globally to prepare, respond, and share our experiences from a New Zealand perspective.
With the financial year recently ticking over into FY2020/2021, the majority of innovators in New Zealand (those with year-end 31 March 2020) are able to begin lodging income tax returns and unlock the value from the newly introduced R&D Tax Incentive program.
There are a number of issues that need to be considered when preparing your year end financial statements. The timing and treatment of certain expense items can have tax implications, and in some cases the accounting treatments applied can result in tax efficiencies.
Did you know that if you use a registered tax agent like RSM New Zealand, you are granted an extension of time to file an income tax return?
The most common tax period in New Zealand is from 1 April to 31 March the following year, but are you aware that there are two different deadlines for filing a return?
Undeclared cash in the construction sector remains a high priority for the Inland Revenue (IR).
You’ll probably recall recent advertising that they have done, and you may have seen the advertising that they are running at the moment.
Are you a non-resident business supplying remote services to NZ resident consumers?
If so, you may be required to be registered for New Zealand GST and charge GST on services provided to NZ resident customers from 1 October 2016.
When do you need to register for GST?
You will need to be registered for GST when:
You may be aware that Residential Land Withholding Tax (RLWT) will soon apply to sales of certain properties in New Zealand. Will the implications of this new regime be relevant to you or your business?
The Inland Revenue Department (IRD) has this month released their quarterly large enterprise update. Unsurprisingly the update includes some changes to the IR’s focus on transfer pricing. This is without doubt the start of the IR’s response to the OECD’s Base Erosion and Profit Shifting (BEPS) project.
With the OECD’s base erosion and profit shifting (“BEPS”) action plan final reports having been released late in 2015, it’s now time to take note of the potential risks that the plan poses. This article provides an overview of the main risk areas and for this reason we have not provided commentary on all 15 action points.
Provisional tax is not a separate tax. It is income tax paid in advance during the year because of the way you, your company or your trust earns its income. Provisional tax helps you to “spread the load” to avoid a large end of year tax bill.
Did you know trustees are personally liable for the tax obligations of a trust?
You may think this is obvious, but have you thought about what tax consequences there may be when you resign as a trustee?
The Inland Revenue Department (IRD) have recently released a notice reminding trustees to keep their records up to date -
The Fringe Benefit tax (FBT) rules are complex and often misunderstood by employers. FBT seeks to tax all non-cash benefits provided by an employer to an employee or shareholder-employee as a result of their employment, with the obligation to return the tax falling on the employer.
Amongst other things, protecting our clients’ business means, to us, ensuring that they are aware of the compliance and risk review focus of the Inland Revenue Department, and all necessary steps are taken to minimize the clients’ risks and exposure. One of the major concerns for Inland Revenue is taxation of m