Short-term rentals: What you need to know
If you’re renting out your home or holiday house over summer, make sure you know the rules on taxes, holiday rental agreements, claiming expenses and more.
News
Laws that changed in 2017
From contractors’ tax to Easter trading, hazardous substances to ACC levy changes, it’s been a big year for business-related law changes. Here’s a summary.
Claiming expenses on business trips
You can claim the cost of many daily expenses when travelling for work. If the trip is part business, part holiday, you can only claim work-related expenses.
Using the Companies Register just got better
It’s now easier to use online services and find tips on how to register a company, search the Companies Register, or keep your company’s details up to date.
It’s a wrap: Preparing your business for Christmas
The Christmas run-up can be frantic for small business owners. Here’s a quick guide to claiming Christmas expenses and rules relating to staff leave.
Bonuses and tax: How to get it right
Thinking of rewarding a star player? Here’s a step-by-step guide to working out the PAYE tax on lump sum payments, plus other deductions you may need to make.
Business expenses: What can you claim?
All self-employed people can claim expenses, contractors included. If you work from home you can claim some household expenses, too. Learn about valid expenses.
Selling online: Hobby or business?
If you regularly sell online, you are “in trade”. This means paying tax and complying with consumer laws.
ACC motor vehicle levies fall
Driving is about to get cheaper for most vehicle owners. The ACC levy portion of the rego will fall by about 12.5% — and the petrol levy will also drop.
R&D: Get cash back from your tax losses
If you do research and development (R&D) work, a special tax credit up to $224,000 can ease cash flow problems and hasten your product to market.
Four-minute round-up of 2017 law changes
From contractors’ tax laws to Easter staffing rules, GST filing to ACC discounts, here’s a summary of what’s new and what’s changed for small businesses.
Contractor tax changes: How to get it right
All contractors can have tax deducted from their pay — and those hired by recruiters MUST do this. We answer your questions about this law change.
Law change: Tax and contractors
Pick your own tax rate. Get your tax paid directly by your recruiter. Choose if your payer deducts tax. A must-read for all contractors and those who hire them.
Go online to manage your GST
If you’re GST registered, managing your returns just got a whole lot easier — you can now file online. Here’s how it works.
If you’re a landlord, you’re in business
If you’re collecting rent, you’re running a business. Residential rental properties come with rules you have to comply with. Here’s what you need to know.
Is your volunteer actually an employee?
Businesses cannot evade their obligations as employers by calling their workers volunteers. Read about correctly classifying the status of your workers.
Audits: What to do when Inland Revenue call
When Inland Revenue says your business is to be audited, the important things to remember are: be prepared and don’t panic.
Hiring: Contractors vs employees
If you’re an employer, it pays to understand the different obligations you have to employees and to contractors — there are costs to getting things wrong.
ACC: Rego rates fall
Driving got cheaper for most vehicle owners this month as the ACC levy portion of the rego fell by a third on average.
Income tax: No more returns?
Inland Revenue is looking at an idea that could mean small businesses may never fill out an income tax return again. Sound good?