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Tax advice

  • ’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…

  • Tax reform long overdue

    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.

  • 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?

  • Tighter property investment rules on the horizon

    Image courtesy of Stuart Miles at FreeDigitalPhotos.net

    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.