Introduction to income tax
Income tax can be confusing at the best of times – all this talk of due dates, confusing terminology, years merging into one another, and trying to figure out how…
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6.7% discount on tax!*
* conditions apply, as always! In certain circumstances, you can get a tax discount from the IRD. Here are the conditions. About you You’re a sole trader or a partner…
Read More What expenses can I claim for my business?
Such a simple question…but…it depends (sorry)! The general rule of thumb is that if you can relate the cost to the generation of revenue, it can be claimed. Different expenses…
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Feel like you’re paying tax all the time?
It can definitely feel that way for provisional taxpayers*, especially in the second year of business. If 2021 is the first year you’re operating (year ended 31 March 2021), you’ve…
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Are you prepared for tax time?
Here we go again! Make this the year that you really get yourself organised to minimise tax and save some money. Here are tips for each that could make a…
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Beany’s Tax-iQ
At Beany, we know that lots of people can find tax overwhelming, or a cause of anxiety and uncertainty. Tax-iQ is our innovative product that shows exactly what tax you…
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(Not) Paying Tax
Nobody likes paying tax at the best of times, and let’s face it, it hasn’t been the best of times recently. We Beanies use our best experience, judgement, and training…
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When does the IRD charge penalties and interest?
You may be wondering if, why, and when the IRD charges interest and penalties. Well, they do have a method to what appears to be madness! Penalties Penalties can be…
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How Far Do We Go? Tax Minimisation vs Tax Avoidance
Beany is a member of the Chartered Accountants of Australia and New Zealand professional association and we abide by the Code of Ethics (see below) to keep its members and…
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Can I make a gift to my employees and clients?
As long as you don’t provide any single employee with a gift worth more than $300 between October and December, the costs are 100% deductible. However…if the gift is food…
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