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New provisional tax option for small businesses Small businesses that have turnover of less than $5 million a year can work out their provisional tax using the accounting income method (AIM). AIM uses new functionality included in approved accounting software…
The Government has introduced relief provisions for “depreciation recovery income” from insurance and compensation payments resulting from the earthquakes in the Hurunui, Kaikoura and Wellington areas (the Kaikoura earthquake). This covers any earthquake that occurs in, or significantly affects, the…
The 2017 Budget announced today by the Minister of Finance includes a Family Incomes Package comprising proposals to: adjust the bottom two tax thresholds discontinue the Independent Earner Tax Credit increase the Family Tax Credit rates for children under 16,…
Challenges facing businesses lately have been nothing short of dramatic Accountants may appear to be on the endangered species list in this era of rapidly-increasing automation, but Adam Davy, head of advisory for BDO New Zealand, says accountants just need…
