Are you part of a supplier rebate scheme that provides gift cards or products as rewards for purchasing goods and services? Think gift cards, tools, or products offered when you spend with suppliers — there’s fresh guidance from the IRD you need to know. The IRD has confirmed that if you convert your supplier rebates […]
Get Clear on Trade Points – What Business Owners Need to Know Read More »
As an employer, if you provide fringe benefits to employees, or others associated with your business, you must generally pay fringe benefit tax (FBT) on the value of these benefits. So, when are you liable for FBT? Any time you provide non-cash benefits to your staff. The list is potentially endless but in practice, most
Keeping up with Fringe Benefit Tax Read More »
How to strengthen your business in times of increasing costs From the 1st April 2022 the minimum wage will increase to $21.20 an hour. Small business owners who employ staff on minimum wage will have to increase wages accordingly. Small business owners are already feeling the strain of recent global and local events and this
How to Strengthen your Business Read More »
Are you Ready? As a business owner or manager, you need to be ready for the increase in minimum wage rates on Friday, 1 April 2022. If you have not yet talked to your accountant, payroll provider or your finance/HR teams, now is the time. It’s also an opportunity to check your employment records, processes
Minimum Wage Increase 1st April 2022 Read More »
Can you make employees take annual leave during lockdown? Can you make them take a pay cut or reduce their hours? We’ve got links to all the information you need to meet your responsibilities as an employer.
Lockdown 101: Leave, Pay cuts, reduced hours – what’s allowed? Read More »
Do you own a double cab ute and are you exempt from FBT? If you own a double cab ute you may have seen articles recently about whether or not these vehicles are exempt from FBT (Fringe Benefit Tax). All you need to know courtesy of Stuff. Firstly, what is subject to FBT? A
Double cab utes and FBT Read More »
Thinking of buying or selling your business? A new tax rule comes into effect on 1 July 2021 that will have an impact on the way you negotiate. The new rule is designed to create more certainty in purchase price allocation, which is the way the purchase price is divided up between the various types
Buying or selling a small business? New rules could affect you Read More »
New Zealanders earning over $180,000 a year will now pay a 39% tax rate, which came into effect on 1 April 2021. If this includes you, are you aware of how your tax obligations change when it comes to shares, property, FBT, superannuation tax, or trusts? The 39% tax rate and trusts From now on,
The 39 percent tax rate – your questions answered Read More »
Earlier this month we had a visit from our PayHero Partner Program Manager, Jacinta, who filled us in on what PayHero has been up to behind the scenes as well as important updates regarding how proposed changes to the Holidays Act will be applied to the payroll software. It is important to note that these
Proposed Changes to the Holidays Act Read More »
It’s important to note that this is not yet law – these are proposed changes but the Bill will come into effect two months after it has passed as a law, which could be mid-2021. The Government has introduced the Holidays (Increasing Sick Leave) Amendment Bill to increase the minimum employee sick leave entitlement from
The proposed sick leave extension Read More »
