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Tax refund

  • ’Tis the season to be jolly, but beware the tax folly

    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…

  • Charity auctions and tax rebates

    ID 100302439

    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…

  • The small stuff – can you write it off?

    Many small items used in business like mobile phones, laptops or other tools only cost between $500 and $2,000, and have a limited economic life and resale value.

    Accounting for them as separate assets and claiming depreciation over several years add to the compliance costs businesses face.

    So why not just write them off?