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Taxing schedular payments made to contractors

If you pay a contractor for work under a schedular payment activity, you must deduct tax from their pay. You will find the schedular payment activities on page 3 of the Tax rate notification for contractors (IR330C).   Note: Contractors hired under a labour hire arrangement fall under the schedular payment rules. IR330C and choosing […]

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Exciting News – 100% Tax Filing Certification

05th May 2014 For the 4th year running, Business Like NZ Ltd is proud to be the recipient of yet another 100% Tax Filing Certification. What does this mean? In April 2014 Business Like NZ were presented with our fourth certificate showing that we have filed 100% of tax returns for the last tax year. We are very […]

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Mixed Use Asset

A mixed- use asset can only be land (including any dwellings), and boats and aircraft that cost in excess of $50,000. To be a mixed-use asset, the asset must be used by a person in an income year partly to derive income, partly for private purposes and not used for at least 62 days in […]

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Tax & Property Transactions

Property is a complex area of  tax law and it pays to be well-informed. New Zealand does not have a capital gain tax as such. However, gain from the sale of real property (land & buildings) and personal property (including shares) where the property is acquired for the purpose of resale, or as part of a […]

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Gift Duty

Gifts made on or after 1 October 2011 are no longer liable for gift duty and you no longer need to file any documents with IRD. The donor or agent remains responsible for keeping and maintaining records of the amount of debt that has been forgiven. If you made a gift before 1 October 2011 […]

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