by Aj Setia | Jan 7, 2021 | Tax
Tax codes assist your employer in calculating how much tax should be deducted from your pay, benefit or pension. It is important to calculate your code and inform your employer as failing to inform them will result in getting tax at the non-declaration rate of 45%....
by Aj Setia | Dec 10, 2020 | Tax
Self-employed individuals have to carry out all aspects of their business on their own. This includes anyone who owns a small business, works as a sole trader, or provides contracting services. In most cases, individuals are able to start a business without setting up...
by Aj Setia | Nov 12, 2020 | Tax
There are several sorts of expenses that can be claimed during the end of year tax return. These include: The cost of an accountant or tax agent to file and complete tax returns. Cost of income protection insurance if the insurance payout would be taxable. Talk to...
by Aj Setia | Oct 15, 2020 | Tax
Non-cash fringe benefits provided by employers are subject to FBT, however, if the benefit contributes to the health and safety of the employee, this may exempt it from FBT. The benefit needs to qualify the following requirements: Must be related to the employees...
by Aj Setia | Aug 27, 2020 | Tax
New Zealand tax residents selling residential property (including overseas property) that they have owned for less than 5 years may be subject to income tax. To determine whether you will have to pay income tax, you will need to use the bright-line rule. The...
