What do businesses need to do at the end of each financial year?
Being a business owner carries an annual obligation. You must file a tax return with Inland Revenue. Most “tax years” in New Zealand run between 1 April and 31 March…
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How business owners should pay themselves
We’ll start with the best method to transfer money from the business to your personal account. Then we’ll touch on tax. ▶ How you should pay yourself ▶ Income tax…
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A guide to income tax for business owners
We’ve built this article around the questions we frequently get from new business owners. Scroll down, or feel free to jump straight to the one on your mind! ▶ What…
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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…
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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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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 Inland Revenue 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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No Capital Gains Tax – but this sneaky little tax change instead!
Residential rental tax change, how will it change things? Everybody with a residential rental property heaved a sigh of relief when the government abandoned its plan for a capital gains…
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Are we trying to scare you with land tax issues? Yes!
Be afraid, be very afraidAsk any tax specialist and they’ll have a horror story in their ‘land tax gone bad’ file. I’ve seen more than my fair share of disasters…
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