How to avoid a painful tax audit?

Even the NZX can be caught out by a tax audit. The sharemarket business paid $1.2 million extra after the Inland Revenue Department checked its books. For the average small business owner, the thought of a visit from tax inspectors is enough to make them shiver. We...

Who says Aussie is better for tax?!

The Australian budget set tax rates for the next two years so how do we compare.  The following table sets out tax payable using the basic scales so Working for Families, Medicare etc are not included.  Note how Australia “whacks” non-Australian tax resident (“NR”)...

90 Day Trail Period Changes

The 90 Day Trial Period is not offering employers the protection most people expect. Recent court decisions now obligate employers to ensure their recruitment processes enable them to prove they have acted fairly in their recruitment processes. Employers are coming to...

2012/2013 Child Support Rates

As of 1st April 2012 Inland Revenue have recalculated the rates that are used to assess child support payments. The minimum annual assessment income for Child Support is $863, even if your actual assessable income in less than $863. Annual assessable income for Child...

Holiday Pay and Parental Leave

An employee’s annual leave entitlement accrues while they are away on parental leave as the leave is considered to be part of the employee’s continuous service. However, a little known fact amongst employers is that the method of calculating holiday pay...