If you provide services through a company, trust, or partnership, the income attribution rules could apply to you. These rules prevent individuals from lowering their tax rate by diverting income to an associated entity. This post breaks down when these rules apply, key exemptions, and what it means for your tax obligations.

Shareholder Current Accounts track not only the money shareholders put into or take out of their company, but also some other non-cash items. This blog breaks down how they work, the tax implications, and what to do if your account becomes overdrawn

When you purchase a business asset, any repairs needed to make it usable are generally considered capital expenses and not immediately deductible. However, they may be added to the asset’s cost for depreciation purposes. This blog explains how the IRD classifies repair costs and what that means for your tax return. Written with input from Chat-GPT.

Navigating tax compliance can feel overwhelming, especially with Inland Revenue ramping up enforcement in 2024. From property audits to cryptocurrency disclosures, the stakes for startups and small businesses are higher than ever. At Accountech, we specialise in simplifying these complexities for creative entrepreneurs, so you can stay focused on your passion while we ensure your financials are compliant and stress-free. Written by Chat-GPT with input from Inland Revenue presentations.

Choosing the right vehicle involves balancing tax benefits with practical business needs. Vehicles used primarily for business, especially commercial vehicles and eco-friendly options, tend to offer the best tax advantages in New Zealand. Always consult with a tax advisor to make the most informed decision.

Managing vehicle mileage claims can be streamlined with the right logbook option. Select the right option for you and follow IRD guidelines by keeping a logbook for 90 days, calculating the proportion of business use, and allocating vehicle costs accordingly. Our goal is to make accounting easy and stress-free for your startup and creative business needs.

More businesses are on the brink of collapse compared to the previous year, in spite of a successful recovery from COVID, businesses face further economic pressure and challenges that must be overcome if they are to survive.

Our latest blog post explores the benefits of using bank rules in accounting, emphasising how they can streamline processes and reduce errors. We explain how bank rules work, highlighting their ability to automatically categorise transactions based on predefined criteria.

This blog post explains why Terminal Tax and Provisional Tax payments can feel close together at this time of year. It highlights the importance of keeping good financial records and offers budgeting and money-saving tips to avoid cash flow issues.

We’re starting to see some Small Business Cashflow loans being defaulted on and called in by the IRD. We go over what this means and how to navigate through once this happens.