Aro Accounting | Taxes
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Taxes

It’s been a long time coming, but there has finally been some guidance released about the new tax rules on residential rental property. At this stage, they are still just proposals and are subject to change, but a couple of key points: If you purchased...

The tax changes announced today are a major disappointment. As a business, we are apolitical.  For some time now, housing has been a political football in NZ.  Every party now in Parliament has contributed to the mess the housing “market” is now in – they all...

Has your income dropped significantly compared to last year? You may be paying more tax than you need to. Watch this video to see if you should consider the estimation option. [embed]https://vimeo.com/513200641[/embed]...

Tax rate change Shortly, there will be a new top tax rate added for individuals.  If you earn over $180,000 or have a company with significant retained earnings, this will likely affect you.  Watch this to find out a little more about how it works, and...

From 1 April 2021 the top income tax rate will increase to 39% (over $180,000). Watch our quick video to see how this could impact your business and dividends. [embed]https://vimeo.com/504640737[/embed]...

The Small Business Cashflow Loan Scheme looks to have been reasonably successful – at the end of last week, it was approaching $1 billion in loans advanced.  The feedback that we have heard has been largely positive with most receiving the loans quickly. This is a...

This is a busy time of year for paying tax, there is provisional and terminal income tax, maybe FBT as well as the usual suspects of PAYE and GST.  All at a time when for many businesses, cash has stopped rolling in. On the first of...

Welcome to day number 1 of the lockdown.  As we get used to this new, temporary way of life, here is some important stuff for businesses: If you haven’t done so already… If you qualify and haven’t yet applied for the wage subsidy or if you’re not...

Yes, Covid-19 is here, and it is creating some fundamental changes in how our country operates incredibly quickly.  One of the benefits of living on small islands in the south pacific is that we are relatively isolated.  As of writing this there are only 20...

For our tax clients, you might have heard us grumble about under-staffing at IRD and how that slows down the work we do for you.  It transpires that 700,000 calls didn’t even make it into the queue to talk to someone (about 40% of the...