Renting your home or bach online? If you rent a property for short periods, you need to know your tax commitments. New rules announced last May come into force this financial year. Here’s what you need to know: 2,500 If your tax due at end of year is more than $2,500, you’ll have to…
Day: March 7, 2020
What’s new in 2020?
Partnership Law gets a makeover: The Partnership Law Act 2019, which governs business partnerships …
Are you a landlord? Keep up with the changes
With a third of New Zealanders renting homes, and some for a lifetime, it’s key to have clear, fair rules for tenancies. The Government’s tenancy law reforms announced late last year aim to improve tenants’ security and stability while protecting landlords’ interests. The Residential Tenancies Amendment Bill is now making its way through Parliament,…
Five steps to a healthy rental property
To boost the quality of rental properties in New Zealand, the Healthy Homes Guarantee Act was passed in 2017. If you’re a landlord, there are five actions you need to take to ensure your property meets the Healthy Homes Standards. By 1 July 2024, you need to provide: Fixed, efficient and healthy heating devices…
New kilometre rate for claiming motor vehicle expenses
Are you using your car for business purposes? It’s timely to outline the process for claiming tax on your work vehicle expenses. If you’re using a vehicle for business purposes, you can claim tax back on expenses. If you use the vehicle only for business, you can claim the full running costs. If you…
Four-week checklist to keep tax time low-stress
Week 1: First things first Talk to your accountant or bookkeeper. They’ll tell you what you need to do before 31 March including what you can claim for and what you can’t. Remember, tax time is busy for them too, so the more prepared you are, the smoother the process, and the better the…