Investment Boost (or accelerated depreciation) – a refresher
From 22 May 2025, businesses in New Zealand can claim a new tax deduction called the Investment Boost when buying eligible assets.What is it?The Investment Boost lets you claim an extra 20% tax deduction upfront on the cost of a new asset in the year you buy it. You depreciate the remaining 80% as normal.It doesn’t increase your total deductions over the asset’s life — it simply gives you more of the tax benefit earlier, improving cash flow.How It Works (Simple Example)Let’s say yo...
March 13, 2026Dividends and retained earnings – the forgotten frontier for companies.
Many businesses operate through a limited liability company structure. Each year, the profit the company has made for the year is either distributed to shareholders as a salary or kept in the company to be used for debt repayment or growth and this ends up in retained earnings. Often a mixed approach is applied.If all profit has been distributed to shareholders as a salary each year, then there will be no retained earnings, and no dividends will be required to be paid out to the shareholde...
March 12, 2026End of Financial Year Reminder
As the end of the 2026 financial year approaches, we thought it would be a good time to send a reminder about what’s required and allow you time to gather it, should it be buried with other paperwork. The period runs 1 April 2025 – 31 March 2026 and the information commonly requested (if relevant) is:PDF bank statement/s showing the closing balance at 31 March 2026.Loan summaries showing closing balances and interest deductions for the year ended 31 March 2026.Hire Purchase account tran...
March 3, 2026Christmas trees, farming and the ETS – a quick summary
New Zealand’s Emissions Trading Scheme (ETS) is becoming a practical opportunity for farmers to earn income from carbon, especially on lowerproducing or erosionprone land. The core opportunity is registering eligible post1989 forest (or regenerating native bush) in the ETS so the farm can receive New Zealand Units (NZUs) as trees grow and store carbon.To qualify, forest land generally must be at least 1 hectare in blocks, capable of reaching 5 metres in height, with sufficient canopy cover and...
December 2, 2025What I’ve Been Reading: Atomic Habits by James Clear
Lately, I’ve been feeling the pressure of juggling work, homelife, and the never-ending to-do list. So I picked up Atomic Habits by James Clear. This book isn’t just another productivity guide. It’s about how tiny changes in your daily routine can lead to massive results over time. The message is simple but powerful: you don’t need to overhaul your life to make progress. Just focus on getting 1% better each day. That idea really stuck with me. I’ve started making small tweaks — like...
November 28, 2025Christmas Giving & Tax in New Zealand: What Business Owners Should Know
It’s Christmas time! Lots of Kiwi businesses love to celebrate the holidays by giving gifts to their team and saying thanks to their customers. But before getting too carried away with presents and parties, it’s important to know how tax rules work around Christmas giving.Gifts for StaffSmall gifts are usually fine: Non-cash gifts (like hampers, wine, or movie tickets) worth under $300 (including GST) per person per quarter are normally exempt from Fringe Benefit Tax (FBT).Watch the total sp...
November 28, 2025Hobby vs Business
Sometimes it’s hard to tell if what you’re doing for fun is just a hobby or if it’s actually a business — especially if you start making money from it. This difference really matters because it changes whether you have to pay tax, keep records, or file returns.What Is a Hobby?A hobby is something you do just because you enjoy it — not because you’re trying to make a profit.According to IRD, a hobby:Is something you do in your spare time for fun or relaxation.Might make a bit of money...
November 28, 2025Motor Vehicles & Mileage Claims
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October 7, 2025Gift cards & Loyalty rewards - Christmas is coming….
You might receive gift cards as a loyalty rewards or give gift cards to your employees from time to time, particularly as Christmas gifts or rewards for great performance. The treatment of these has recently been clarified by the IRD. So how do you treat them in your accounts as a business owner and employer? Firstly, the distinction is made between two types of gift card:‘Open loop’ cards (eg. prezzy card, can be used anywhere) are considered ‘cash’‘Closed loop’ cards (eg....
August 30, 2025Key Tax Changes
Key tax changes you may notice impact this year are as follows:Funds borrowed before on rental property.Some good news – the interest you can claim for funds borrowed for rental properties acquired before 27 March 2021 has increased from 50% to 80% for the 2025 tax year and will be 100% for the 2026 financial year which has commenced.Financial YearPercentage of Interest That Can Be Claimed31 March 202375%31 March 202450%31 March 202580%31 March 2026100%Income Tax ThresholdsThe 2025 year will s...
April 14, 20252025 Farming Accounts Checklist
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March 25, 20252025 Rental Accounts Checklist
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March 25, 20252025 Individual Tax Return Checklist
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March 25, 20252025 Financial Accounts Checklist
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March 25, 2025End of Financial Year Reminder
As the end of the 2025 financial year approaches, we thought it would be a good time to send a reminder about what’s required and allow you time to gather it, should it be buried with other paperwork. The period runs 1 April 2024 – 31 March 2025 and the information commonly requested (if relevant) is:PDF bank statement/s showing the closing balance at 31 March 2025.Loan summaries showing closing balances and interest deductions for the year ended 31 March 2025.Hire Purchase account tran...
February 17, 2025Preparing for your best year yet - in life and business
The new year has arrived and having had time for rest and reflection, it’s a good time now to set ourselves up to thrive in 2025 and beyond, with a fresh look at our life and business plans. There’s a saying, the failure to plan is a plan to fail. There is truth in this… Our human brain is wired to achieve goals we set, and particularly those we write down. This activates a part of the brainstem known as the reticular activating system or RAS. Settin...
January 10, 20252024 Individual Tax Return Checklist
Information Required (if applicable) for period 01/04/2023 – 31/03/2024...
November 28, 20242024 Financial Accounts Checklist
Accounting Information Required (if applicable) for period 01/04/2023 – 31/03/2024...
November 28, 2024Rental Checklist
Accounting Information Required (if applicable) for period 01/04/2023 – 31/03/2024...
November 28, 2024Preparing Your Small Business for the Christmas Break
The holiday season is just around the corner, and it's time to get your business ready for Christmas and the New Year. Here's a simple guide to help you navigate this festive period smoothly. ...
November 5, 2024A Business Trip to China
During my recent business trip to China, I got a front-row seat to the bustling life and culture of this fascinating country. Here’s a peek into my adventure, complete with a sprinkle of humour! My Window into China The first indication of what I was in for, baggage carousel 51 in an airport with 300 gates enroute to the Canton Trade Fair, at probably the largest exhibition centre in the world. Between the airport, trade fair and the Hangzhou train station on a Friday night with its 30 gates...
October 31, 2024Family Boost
Now is the time to start claiming your FamilyBoost payments on MyIR. Claims for the quarter 1 July 2024 to 30 September 2024 can be lodged from 1 October 2024.FamilyBoost is a childcare payment to help eligible households pay for the cost of early childhood education (ECE). Eligible parents and caregivers will be able to claim up to 25% of their weekly childcare fees, or a maximum of $975 every 3 months.Childcare fees can include optional charges and services, but they do not include donations. ...
October 1, 2024AirBnB GST Implications
Purchasing a beach house or holiday home? Want to Airbnb it to help with costs?This often seems like a good idea at the time. However, providing short-term rental accommodation falls within the GST net. It is a GST taxable activity. Clients and investors should be aware of potential costly GST traps that they can unwittingly fall into....
July 4, 2024Shareholder Current Accounts
We often think of the company and us as the same person. However, the company is a separate legal entity (with limited liability). It is usual for the shareholder to advance capital to the company (to purchase assets or fund working capital) or to withdraw cash. Especially if there is cash in the bank account and the shareholder wants to use that cash for personal purposes.The shareholder's current account records these loans between the company and the shareholders, which is essential for tax p...
May 21, 2024Government Tax Changes: Implications for New Zealanders
With the new year underway, the government is taking action to address inflation and the cost of living. Here's a rundown of key tax changes you need to know about....
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