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New Zealand tax reform is long overdueAfter years of protests from accountants and business owners over inequity of the current provisional tax regime, the Government is finally proposing long overdue reforms.

We are often asked about wider personal financial planning issues as our clients start to think about transition into retirement. Authorised Financial Adviser (AFA) Simon Stredder from Hassan & Associates addresses some of these issues:

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Tighter rules for property investors will come into effect soon.

Under the new rules, announced earlier this year, property investors who buy residential property from 1 October 2015 and sell it within two years will pay income tax on the capital gain.

Is your Christmas lunch or dinner tax deductible? 

It’s that time of year – Xmas lunch or dinner with staff and clients,  or even just having drinks and nibbles in the office.

Most people would assume these are work related expenses and therefore tax deductible. Well, not according to Inland Revenue…

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Are you donating something to be auctioned? Or buying something at a charity auction?

Either way, you will be thinking about claiming the year-end donations tax rebate of a third of the amount you’ve donated.

Sorry, neither qualifies…