WK Blog: Tax

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End of Financial Year Checklist for NZ Businesses

Posted in Accounting & Advisory #end of financial year #eofy

As the end of financial year in NZ approaches, many business owners start thinking about taxes, financial reports, and whether their records are fully up to date. The weeks leading up to EOFY are the perfect time to review your…

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Team working in a bright, open-plan office with multiple desks and monitors, while a senior colleague stands nearby holding a coffee and speaking with staff.

Filing GST Return: Avoid These Common Mistakes

Posted in Accounting & Advisory #eofy #gst #gst filing

Filing a GST return is a routine task for many businesses, but even small mistakes can lead to penalties, delays, or inaccurate financial records. Whether you are a sole trader or running a growing company, understanding the common pitfalls in…

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The Xmas Grinch - tax rules for Christmas gifts given by New Zealand businesses

The Xmas Grinch – tax rules for Christmas gifts given by New Zealand businesses

Posted in Tax

Employee gifts ‘Tis the season for a friendly reminder that the tax rules for gifts to employees do not share the Christmas spirit.  The cost of the gifts will generally be deductible to the employer, but in most cases, there…

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New Zealand Budget 2025

New Zealand Budget 2025 delivers a surprise

Posted in Tax #budget

The New Zealand Government billed Budget 2025 as the “no BS Budget” in the weeks prior to the budget and they made it known that they would not be splashing around much in the way of…

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2025, the year IRD awakes from its slumber?

2025, the year IRD awakes from its slumber?

Posted in Tax #business #tax

For many years, there has been very little audit/investigations and audit activity from the New Zealand Inland Revenue Department because the IRD was focussing on its internal “Transformation” project. Then COVID came along just as the Transformation project finished.  In…

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IRD audit and enforcement activity to increase

Posted in Tax

For many years now, the New Zealand Inland Revenue has not been overly active, or at least not visible, in investigations or enforcement.  There have been various reasons for this.  The main reason was that the IRD was undergoing a…

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New Zealand Budget 2024

New Zealand Budget 2024 – a step in the right direction?

Posted in Tax

We were highly critical of the additional spending in Budget 2023 in a time of high inflation and were pessimistic of Treasury’s 2023 forecast that NZ would not enter a recession.   Treasury were, of course, wrong and NZ is…

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Family Boost – tax credit for childcare costs

Family Boost – tax credit for childcare costs

Posted in Tax

Last month, fulfilling an election promise, the Government announced a new credit called FamilyBoost for families paying for early childhood education (ECE).   FamilyBoost replaces the proposed extension to the 20 free ECE hours for under two-year olds announced by the…

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Drought in the Marlborough, Tasman, & Nelson Districts

Posted in Rural

On 14 March 2024, Minister for Agriculture, Todd McClay, declared a medium-scale adverse event for drought in the Marlborough, Tasman and Nelson districts. On Monday 18 March 2024, he fronted a hastily arranged meeting of affected farmers and growers along…

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Some certainty at last around the latest New Zealand tax changes – March 2024

Posted in Tax #tax

As we have mentioned in recent articles, there are some relatively significant tax changes taking effect 1 April 2024 even though the draft legislation had not been released.  Well finally, the detail behind upcoming changes was released yesterday when Amendment…

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