Business Accountants: Update on FATCA and CRS Compliance: Is Your NZ Trust Affected?

The Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) reporting season is here again, with New Zealand Financial Institutions (NZFIs) required to submit their annual FATCA and CRS reporting information for the year ended 31 March 2024 to Inland Revenue by 30 June 2024.

Business Accountants: Understanding Changes in Residential Property Taxation

Recent years have seen significant adjustments to the tax landscape, particularly concerning residential property. The government has responded to calls from various quarters to address investor demand in this sector. Notably, recent changes have been initiated to reverse tax policies affecting residential property, aligning with promises made by both National and ACT during their election campaigns.

Business Accountants: Recent Developments in Tax Legislation and Policy: A Snapshot

Here’s a quick overview of the latest updates in tax legislation and policy.

Business Accountants: GST on Housing: Avoid Surprise Tax Bills

As we approach May 2024, it’s crucial to address potential GST pitfalls when selling property. Over the past decade, there have been instances where property sellers, unaware of GST implications, faced unexpected tax bills, especially those converting residential properties into holiday rentals or using them for business.

Business Accountants: FBT Savings: Don’t Miss Out!

As May rolls around, it’s time to tackle fringe benefit tax (FBT). With final FBT returns due soon, it’s crucial to understand your options for calculating FBT and choose the best one for your needs. Let’s break it down.

Business Accountants: Tax Predictions for Budget 2024: What to Expect

The 2023 election campaign put tax at the forefront, and now all eyes are on Budget 2024 for potential changes to personal taxes. With hints from the National-Act and National-New Zealand First Coalition Agreements, here’s what we might see.

Business Accountants: Tax toolbox for tradies

Are you a tradesperson managing your own business or assisting others in bookkeeping for their trade-related work? While you excel in your craft, it’s equally essential to manage your tax responsibilities effectively. That’s where our Tax Toolbox comes in handy.

Business Accountants: The Essentials of Bookkeeping for Your Business

In today’s digital era, having access to accurate financial data is essential for making informed decisions and managing your business effectively. Good bookkeeping ensures that your financial records are up-to-date and accurate, providing valuable insights into your business’s performance. But what exactly is bookkeeping, and how can you make the most of it for your business?

Business Accountants: Useful Tips for Choosing the Best Accounting Company in NZ

When starting a company, hiring an accountant early on is a wise decision. A skilled accountant can help set up your accounting and payroll systems correctly, saving you time and money in the long run. However, not all accountants are created equal. Here are some useful tips for hiring the best accounting company in NZ.

Business Accountants: The Significance of Accounting for Small Businesses in Managing Tax Returns

Accounting plays a pivotal role in assessing a firm’s financial health, aiding investors, owners, and shareholders in informed decision-making. It serves as a valuable tool for analyzing profit, loss, and business risks, offering insights into assets, liabilities, costs, and income.