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Changes to the IRD payment service at Westpac
Changes to the Inland Revenue payment service at Westpac Memorandum 2 May 2014 To: Tax Agents From: Dave Gillespie, Payments Project Sponsor, Inland Revenue Purpose: This memorandum provides information on changes to the way customers can make and receive payments to and from Inland Revenue. From 1 October 2014 customers will no longer be able […]
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Changes to financial reporting passed
The Tax Administration (Financial Statements) Order 2014 (the Order) was signed on 10th March 2014, bringing into effect major changes to the financial reporting requirements for small to medium businesses (SME’s). Effective for income years commencing on or after 1 April 2014, financial statements prepared by SME’s (revenue less than $30 million) will no longer […]
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Accommodation allowances on the radar!
The enactment of the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Act 2014 on 30th June 2014, introduced changes to the tax rules that deal with the taxation of employer-provided accommodation, accommodation payments, and other allowances and payments made by employers to cover employee expenditure. The new rules will generally apply from 1 April […]
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Donations – an unconditional gift?
The Inland Revenue issued its latest Revenue Alert on 22nd May 2014 (RA 14/01) which identifies possible issues surrounding the legitimacy of donation tax credits being claimed by certain taxpayers. The focus is primarily on payments made to private education centres although the general concepts outlined in the Alert are applicable to any payment claimed […]
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Are you on the IRD radar?
The IRD recently published their Compliance Focus for 2013, aimed at assisting taxpayers and voluntary compliance by identifying areas that the Revenue regularly sees as having high potential for taxpayer error. The material is published on the IRD website and for small to medium businesses outlines ten key areas of focus. One of the identified […]
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