Withers & Co Ltd :: Chartered Accountants

Contact us

Phone  09 425 8599

Fax      09 425 7565

Email   admin@withersco.co.nz

office

End of year details sheets

 

 End of year details sheets.           Farming End of year details sheet
                                                        
Business End of year details sheet
                                                        
Personal tax return details required
                                                        
Working for Families Tax Credit details required.

 

 

Newsletters

 

June 2018 Deadline for Common Reporting Standards Fast Approaching - Deadline 30 June to Make Disclosure

Under Automatic Exchange of Information (AEOI) legislation which has been recently introduced, the New Zealand Government has agreed to share financial information collected by them with other participating countries to address the problem of cross boarder tax avoidance and evasion.

The Common Reporting Standard that has been brought into effect facilitates the collecting of this information on foreign residents, which is then shared with the tax authority in their relevant tax jurisdiction to ensure taxpayers are paying the correct amount of tax.

This is achieved by requiring financial institutions to collect information and report that information annually to the New Zealand Inland Revenue Department.

The definition of a financial institution is broadly defined and extends to investment entities that have either "in business" or "managed" financial investment activities, which can extend to family trusts and companies.  Examples of financial investment income are interest, dividend, managed funds, FIF and PIE income.  It does NOT include income from Property Investment or Land.

If you have a trust, company, partnership or estate that earns 50% or more of its income from investing in financial assets and has that income managed either by a financial advisor or a corporate trustee then you may have an obligation to disclose information under these rules by the 30th of June especially where the entity has controlling persons (directors/shareholders/trustees/settlors/beneficiaries/partners) who are not tax resident in New Zealand.

If we have not contacted you directly and you believe the rules may apply then please telephone our office to discuss the actions required.

 

April 2018 Income Tax Rates for 2018, IRD Use of Money Interest (UOMI), Tax Credits, Paying Contractors or Working as a Contractor, Farm House Deductibility, Bright Line Test, Online Payments to IRD, FBT Company  Vehicles, Short Term Rental Accommodation - Air BnB, Book a Bach

May 2017 Changes to Withers & Co Ltd, Income Tax Rates for 2017, Mileage Rates, IRD Use of Money Interest (UOMI), Minimum Wage Rate, Paying Contractors, Farm House Deductibility, 2017 Livestock Herd Scheme Values, GST Refunds/Payments, ACC Invoices/Motor Vehicle Levy Rates, Xero, Audit Shield Insurance, IRD Audit Activity, FBT, Winding up Companies

 

April 2016 Income tax rates, What income is liable for Gst and Income tax, The Brightline Test, Livestock Values

 

February 2015 Income tax rates, ACC Levies, Audit Shield, Recent IRD Developments, Provisional Tax Finance, Payment due dates for payments to IRD, Gst changes, Review of Wills


March 2014 Income tax rates, gst on disposal of land, student allowances, dairy farmers increased income, mixed use assets, look through companies, residency debates, capital gains tax.

March 2013 Income tax rates, payroll changes, mixed use assets, acc levies, working for families, Herd scheme elections to exit, depreciation on farm buildings, farm dwelling expenses.

October 2011
 Gift Duty changes, zero rating of gst on commercial land, petrol rebates, refunds of road user charges, Penny & Hooper case.

March 2011
  Income tax and gst changes, year end tax planning, new depreciation rules, gift duty to be abolished, LAQC changes, employment law changes, minimising shareholder acc levies.

December 2010
 LAQC Regime comes to an end.

September 2010 Budget 2010 - The Dust has settled. Gst rate change, Tax rates, Proposed Laqc company changes, Trustee issues, Building Depreciation rates.

 

 

May 2010 Budget - Our comments.

February 2010
 Tax Rates, RWT Rates, GST Threshold Changes, Livestock Values, Tax Working Group Report, Legal Fees, Low Value Trading Stock on hand, IRD Interest Charge(UOMI), Child Tax Rebates, IRD Tax Penalties – how to reduce these, Associated Persons Rules, Our partners & staff team .

March 2009 Tax changes, getting profits out of companies.

July 2008 Important tax changes to personal tax rates, Dividends from private companies, Compare our rates with Australia, Our ideas for future tax budgets, Outlook, Farmers, Tax penalties and interest - how to avoid these.

February 2008 Tax Rates, Provisional Tax Changes, Our views on the economy, Equity partnership, equity partners, Inland Revenue drought assistance for farmers, Paying wages to children, High Priced Livestock, Changes in the Charities Act and Donations Limits, ACC – Nil levies payable but still covered – how? Accrual expenditure, Withholding payments, the new NZ Bloodstock tax regime.



 

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