With more Kiwis putting money into crypto assets than ever before – and some making big returns – it's time to talk tax. After all, among the implications for your wins is interest from IRD. While most crypto investments are of the 'currency' type, the IRD's net includes any crypto assets, … [Read more...] about Crypto and me: Changes, impacts and how to stay compliant.
As 2022 ramps up, we thought it would be good to look back on some of our cases and the Kiwis we helped to stay in business in these uncertain times. In 2021 we managed 73 tax debt negotiations with IRD and over 120 other tax cases, including; audits, voluntary disclosures, tax prosecution … [Read more...] about A thank you to our clients – Our stories
Court applications to liquidate failing businesses have picked up this year with the 453 filed to the end of October, already surpassing applications for the whole of last year.The figures are still well below the previous two years (852 in 2018 and 702 in 2019) and are nowhere near the levels seen … [Read more...] about ‘Zombie businesses’ – Raising your company from the dead…
The final phase of Inland Revenue’s Business Transformation programme will go live on 28 October. This includes improvements to myIR, as well as other changes for businesses and employers. Whilst some changes to the background processes will not require any alterations within your business, there … [Read more...] about Final stage of IRD transformation – what do you need to know?
In March, the Government announced that it was proposing to limit interest deductions for residential rental investment properties beginning in October. To summarise, the restrictions will begin from 1st October 2021. The amount of the restriction will depend on whether the interest is … [Read more...] about Limiting interest deductions – how am I affected?
Stuff reported this week that Inland Revenue has announced a crackdown on real estate agents who under-report their income, or overstate their expenses, to pay less tax than they should. The tax department said the industry was the next focus of its ongoing enforcement work to target the “hidden … [Read more...] about IRD to take Real action against Estate Agents