An Auckland accountant has been sent to prison for two years and nine months for tax fraud dating back to the turn of the century.
Once you’re registered for myIR you can manage your tax online. You can register for myIR as an individual or for your business, company, trust, school, partnership or club. What you can do in myIR Most of the things you need to manage for your tax can be done in myIR. These are just some of the things you can do: manage access and logons for you or someone else view and update relevant accounts update contact information for you … Continue reading “Improved MyIR (IRD)”
Payday Filing You can choose to file your employment information each payday instead of filing an Employer monthly schedule (IR348) every month. Payday filing is currently voluntary, however you must payday file from April 2019. https://www.ird.govt.nz/payroll-employers/returns-payments/payday-filing/payday-filing.html
New kilometre rates for motor vehicles Do you use a car for your business? The kilometre rates to calculate deductions for business use of a motor vehicle have been updated for the 2017-18 income year. If you’re eligible, for the first 14,000 kilometres your vehicle travels in a year, you can claim 76 cents per kilometre for any business-related kilometre you travelled. This rate applies whether your vehicle is electric, hybrid, petrol, or diesel. After your vehicle travels 14,000 kilometres … Continue reading “New kilometre rates for motor vehicles”
If you get money from renting out your house, a room, a caravan or a sleep-out for any time at all – it’s income. This means you must file a tax return as you may have tax to pay – you may even get a refund. It depends on your other income (e.g salary or wages) and how much tax you’ve paid in the year. Getting your taxes right is easy. Here’s what you need to know: read more
Landlords and tenants (including those in boarding houses) have important rights and responsibilities under the Residential Tenancies Act 1986. Read more here
From 1 April 2017, the way some contractors pay tax on schedular payments has changed, giving them greater choice and helping them get their tax right. Schedular payments are specified payments contractors receive for certain types of work. Income tax is deducted before the payment is made to the contractor. Contractors who don’t receive a type of schedular payment listed above can now opt into the schedular payments rules with the agreement of their payer. read more
To make sure you get prompt payments of any refunds in the future please add or update your bank account details for each of your tax types. You can do this anytime online through your myIR Secure Online Services account. Please update your bank account details for all tax types, even if you wouldn’t normally expect a refund. This can save you time and money.