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Electric and hybrid vehicles: what you can claim

Electric and hybrid vehicles may reduce fuel costs and emissions. Here is a quick guide on how your business can claim the costs of your EV or hybrid vehicle.Choose a method – actual costs or mileage ratesYou generally have two ways to calculate the business claim. Choose carefully, because the method normally stays with that vehicle while you own it.Actual costs: This method may suit a vehicle with high running costs or high business use, but it requires detailed records. If you are GST-regis...

Solar systems and tax: what you can claim

Solar systems can lower power bills for homes, businesses, farms and commercial properties. They can also reduce your tax with smart record keeping. However, the tax result depends on three key questions:What makes up a solar system?Broadly, a solar system may contain several connected parts including:Solar panelsA batteryAn inverterMonitoring softwareSwitchboard protectionThe invoice should separate these items where possible. Their tax treatment depends on whether they are identifiable as sepa...

ACC for Beginners: Key Terms, Cover Levels and Helpful Resources

When you are new to business, ACC language can feel confusing and understanding where the information ACC use comes from. Here are the points and key terms to know.Business Industry Classification, or BIC code, is the code that describes what your business mainly does. When you file your tax return or register for GST, Inland Revenue passes your BIC code, liable income or payroll, and contact details to ACC. ACC then uses that business code to place you into a Classification Unit, which groups s...

ACC for Beginners: What New Business Owners Need to Know

If you are starting a business in New Zealand, ACC helps protect you if you are injured and cannot work. If you are self-employed or a contractor, ACC usually puts you on standard CoverPlus automatically. This can pay weekly compensation based on your taxable income from the most recently completed financial year.For some new business owners, that may not give the right result. For example, your income may change a lot, your business may still earn money while you are off work, or you may not ha...

Could CoverPlus Extra save your business money?

Many business owners and farmers do not spend much time thinking about ACC. But the type of ACC cover you choose can make a big difference to both your levy cost and the support you receive if you have an accident and cannot work.If you are self-employed, there are two common options: CoverPlus and CoverPlus Extra. CoverPlus is the default option. If you make a claim, ACC usually pays up to 80% of your taxable income, based on your most recently completed financial year.CoverPlus Extra works dif...

When Did Claiming a Coffee or Meal Get So Complicated?

We are often asked: “Can I claim this coffee, lunch or dinner?” It sounds like it should be a simple yes or no question, but with meal expenses the answer is usually: “It depends.”Some meal costs are fully deductible, some are only 50% deductible, and some cannot be claimed at all. The result depends on who paid for the meal, why it was provided, where it happened, and whether there was a private or entertainment element.The basic rule is that your own everyday food is normally private. ...

Understanding Inland Revenue Penalties for Late Payment and Late Filing

Staying on top of your tax obligations is one of the simplest ways to avoid unnecessary costs for your business. However, we understand that deadlines can sometimes be missed, especially during busy periods.Inland Revenue (IRD) applies penalties for both late payments and late filing, and these costs can add up quickly. Here's what you need to know.Late Payment PenaltiesIf tax is not paid by the due date, IRD may apply a series of penalties.Income Tax, GST, FBT and Withholding Tax1% initial late...

Income Tax Rates

Understanding New Zealand Income Tax RatesUnderstanding how income tax works is an important part of managing your finances and planning for the future. New Zealand operates a progressive tax system, meaning different portions of your income are taxed at different rates as your earnings increase.Whether you're an employee, self-employed, a company director, or a trustee, knowing which tax rates apply can help you make informed financial decisions and avoid surprises at tax time.Individual Income...

Acc Earners Levy

ACC Earners’ Levy Changes (2023–2027)The ACC Earners’ Levy helps fund injury cover for all working New Zealanders and is deducted from salaries, wages, and self-employed income up to the maximum liable earnings threshold.For employees and self-employed individuals earning at or above the maximum threshold, the levy payable increases slightly each year as both the levy rate and income caps rise.Income YearEarners’ Levy Rate (inc. GST)Max Income Earners’ Levy (for employees) charged onMa...

GST Thresholds Explained

If you’re running a business in New Zealand, understanding GST thresholds is essential for staying compliant and choosing the right reporting setup. Whether you’re just starting out or scaling up, your annual taxable supplies will determine when you need to register for GST and how often you file.GST Thresholds & Filing OverviewAnnual Taxable SuppliesGST / Filing DetailsLess than $2mPayments basis option availableMore than $24m1 monthly filingLess than $500,0006 monthly option available$...

2026 Checklists

View our 2026 end of financial year checklists below. If you have any questions, please don't hesitate to get in touch!...

What a Charity Erg Marathon Taught Us About Business

On Saturday, Team Evans & Co took part in a charity erg marathon, raising funds for Cambridge Community House. While the physical challenge was very real (and left us a little worse for wear!), it also delivered some powerful reminders about the similarities between endurance events and business. As accountants and business advisors, we’re always looking for lessons that translate into realworld value for our clients — and this experience delivered plenty. Start With a Clear Goal Our g...

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...

Dividends 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...

End 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...

Christmas 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...

What 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...

Christmas 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...

Hobby 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...

Motor Vehicles & Mileage Claims

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Gift 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....

Key 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...

2025 Farming Accounts Checklist

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2025 Rental Accounts Checklist

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2025 Individual Tax Return Checklist

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