From 1st April 2018, business owners will have the option to enter the AIM regime (accounting income method). This is a new proposal from the IRD regarding the payment of provisional tax. Continue reading “Changes to the Provisional Tax System – Accounting Income Method”
Be prepared, it’s nearly tax time!
It seems like only yesterday that we were last blogging about being ready for tax time, but actually it was a year ago, and here we are once again, staring down the barrel of the financial year end!
So make this the year that you really get yourself organised to minimise tax and save some money. If you are one of our Warehouse Stationery customers, check out our special offer for you at the bottom of this blog.
The Tax and GST Consequence of Airbnb
As Airbnb (or other private property rental sites like bookabach*) are becoming more popular the tax consequence of running one needs to be carefully considered. Continue reading “Air BnB Income and how to handle It – Blog from Jenny Marklew, Beany Lead Accountant”
Take AIM (accounting income method)
It’s sometimes rare for the public and private sector views on business (and tax!) to align.
However, Beany, Xero and the NZ government acknowledge the importance of small business to the NZ economy and also the technology changes that small business is adopting. Here’s an excerpt from the recent IRD discussion document:
“The AIM measure announced by the Government proposes that, accounting information prepared by a taxpayer for a period, be used as a basis for calculating the tax liability of the business for that period. The resulting amount would be payable by the taxpayer as a provisional tax instalment.
AIM payments will be generated by the accounting software and authorised by the user, whether a business or its advisors. The user will confirm the amount to pay and then activate the payment for both GST and provisional tax. The calculation and payment of provisional tax will become part of running the business instead of an extra process.” Continue reading “Take AIM”
Are you getting the best from the Kiwisaver Scheme?
If you’re self employed then making contributions to Kiwisaver is that little bit harder than if you just get it clipped from your wage ticket each week. Even then, however, there are things to think about, like what type of scheme are you in? Continue reading “Are you getting the best from the Kiwisaver Scheme?”