The IRD are currently promoting their Tax toolbox campaign and are visiting the main centres, engaging with customers to raise awareness about the Tax toolbox. The tax toolbox is a resource specifically aimed at Tradies outlining their tax obligations and how to stay on top of tax. They are also offering free online seminars that run for 30-45mins, which you can watch in your own time, that cover the top 5 tax tips for Tradies. For more information on the tax toolbox and how to access the seminars, visit the IRD website here.   The post Are you a self-employed Tradie or run a construction ..read more

We have all heard the stories about the price of childcare and the struggles that a lot of families face when both parents are working.  The cost of living crises has put an even bigger strain on those working parents but the Governments new FamilyBoost policy hopes to relieve some of that pressure. For those families earning up to $140,000 per annum and spending $300 per week on childcare, the full rebate of $75 per week would be available. The rebate would gradually reduce for those families earning between $140,000 and $180,000, with an approx. $18.75 per week rebate for a family earni ..read more

No doubt this is not news to anyone by now, starting from 1 April 2024 the income tax rates for Trusts have changed. Trusts were previously taxed at a flat rate of 33% on their income. The new rules for any income earned and retained by the Trustees of a Trust are now taxed at a higher rate of 39%. If your trust earns $10,000 or less in a tax year, the tax rate remains at 33%.  There are other exceptions to the trust tax hike such as disabled beneficiary trusts and energy consumer trusts. If you are unsure if you are an exception, make sure you contact the office for further clarity. The ..read more

If you rent out the family bach through Air BnB, if you drive with Uber, or, more generally, if you earn income through an online platform that puts together service providers with customers, you need to be aware of requirements for online marketplaces in New Zealand. From 1 January 2024 New Zealand adopted the OECD’s sharing and gig economy information and exchange framework. This requires online marketplaces to conduct due diligence on all their sellers, and to collect and report information about sellers and transactions on their platforms. The effect of this will be to make income earned t ..read more

There are new laws for incorporated societies. Between 5 October 2023 and 5 April 2026 there are 2 Acts in force If your society – registered for the first time on or after 5 October 2023, the Incorporated Societies Act 2022 (2022 Act) applies. registered before 5 October 2023 and has reregistered since then, the 2022 Act applies. registered before 5 October 2023 and has not yet reregistered, the Incorporated Societies Act 1908 (1908 Act) applies. We have information about reregistration under the 2022 Act, making changes to your society’s constitution, including a contact person in your con ..read more

Good news for our property investors with the government announcing that they are phasing back the ability to deduct interest expenses from 1 April 2024 when all affected taxpayers will be able to claim 80% of their interest expenses. For the 2024 tax year (1 April 2023 to 31 March 2024) the deduction rate is 50% for those that qualified under the old rules. If you are unsure what your rate is or is going to be, make sure you get in touch with us at the office. The post Mortgage Interest Deductibility appeared first on DPA ..read more

2024 Education Grant applications are now open. Download the Education Grant Application form here. Download the Education Grant Policy for more information here. Closing date for applications is the last working day preceding 31 March of each year. The post Rangatira Point Block Incorporation appeared first on DPA ..read more

You can find our questionnaires by clicking the following links: Business Farming Livestock Numbers Livestock Sheet Rental Trust Individual NZ Tax Residency The post 2022 Questionnaires appeared first on DPA ..read more

Thinking of making the move to New Zealand? DPA have assisted clients from all over the world to settle in New Zealand with regards to their taxation and business requirements and would be happy to assist you in the following areas: Obtaining an IRD number Company Registration Transferring your pension Taxation advice / compliance Due diligence on prospective business ventures Business structures Navigating the transitional resident rules If you have any questions with regards to moving your business to, starting a new business in, New Zealand or any questions regarding taxation in New Zeala ..read more

Our office will be closed from Thursday 23rd December 2021 at 12pm, reopening again at 8.30am on Monday 17th January 2022. If you need any urgent help over this period you can contact one of the Directors as follows: David Steele: 021 755 616 Angela Clark: 021 715 383 Paul Wilson: 021 273 1694 Hollie West: 021 715 816 We wish you all a very merry Christmas and a safe and happy holiday season. The post Christmas 2021 Office Hours appeared first on DPA ..read more