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Bachs, boats and aircraft: How are these ‘mixed use assets’ taxed?
If you’ve been snared by the mixed-use asset rules, then it would be a fair to assume that you’re going to be paying more tax, repaying some GST if you claimed GST when you purchased the asset, and spending more on tax compliance costs.
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How to Determine Your New Zealand Tax Residency Status
Understanding whether you are a tax resident of New Zealand is crucial for compliance and tax obligations. Here we outline the key criteria and tests used to determine your tax residency status - helping you navigate the complexities of New Zealand's tax system.
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Employee Share Schemes: A New Opportunity for NZ Businesses
Offering an innovative way to attract and retain talent, these schemes not only foster employee engagement but also align the interests of staff with business performance, promoting a sense of ownership.
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Entertainment Expenses & Fringe Benefit Tax
We examine the intricacies of entertainment expenses and fringe benefit tax (FBT) in New Zealand, highlighting key considerations for businesses. It clarifies what qualifies as taxable benefits, offers practical tips for managing FBT obligations, and explores strategies to maximise tax deductions. Understanding these elements is essential for businesses aiming to optimise their tax position while ensuring compliance with relevant regulations.
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The Dark Side of the Moon - Navigating the Complexities of Asset Distribution After Death
Navigating the complexities of estate planning can be as challenging as a bobsledder's training run, with unexpected twists that could lead to difficulties. In the second part of this series, we delve into the intricacies of ensuring a fair and equitable distribution of assets to beneficiaries after a loved one's passing.
