Education Articles about NZ business and the tax issues to be aware of

Business types

It can be very confusing to understand all the varying types of business structures and their meanings. In this article we will look at the definitions of Sole Trader, Partnership... read more →

Tax reporting obligations

Income Tax The standard tax year in New Zealand runs from 1 April to 31 March. If you are doing your own income tax returns you'll need to have them... read more →

Expenses/deductions overview

Most businesses incur expenses when generating income. Most of these expenses can be deducted from the income to arrive at the net profit (also known as net income or taxable... read more →

Fixed assets and depreciation

Fixed assets can generally be described as business assets that you expect to use for more than a year and that cost over $500. The cost of most fixed assets... read more →

Motor Vehicle expenses: using your own vehicle for your business

If you're self-employed There are two ways you can calculate the proportion of your motor vehicle business use. You can either use actual costs, or a logbook. Kilometre rates Once... read more →

Home office expenses

For business owners who do some work from home, make sure you claim a portion of your home office expenses in your end of year Income Tax return. A recent... read more →

How to determine whether you are an Employee or Self-Employed

It is important to know if you are an employee or self-employed, because the tax and Accident Compensation laws treat the two groups of people differently. In this article we... read more →

Why keeping good business records is important

So you have determined that you are self employed and in business – great! As the owner of a business, keeping good business records is very important. 1. Making tax... read more →

Residential Rental Income

Income that you receive from renting out a property is called residential rental income. If you are a landlord you will be liable for income tax and this will need... read more →