Inland Revenue has eliminated a couple of look through company (LTC) problems which should save you money and/or let you wind up LTCs you no longer need. LTCs have been available since 1 April 2011 when they replaced LAQCs. They provide the benefits of a company, mainly limited liability, the ability to offset losses against …
Look Through Companies – Welcome Changes Have Arrived Read More »
If you’re in the trades, you need to be very wary of Inland Revenue. IRD has a massive focus on cash jobs including publicity, education and audits. Not managing your tax could lead to significant tax, penalties and the time and stress that goes with a tax audit. Let’s deal with some aspects quickly: – …
Inland Revenue, in its August 2016 Business Tax Update, provided a reminder about FBT and work related motor vehicles. FBT on cars is easy for IRD to identify. The sign written van at the kid’s weekend rugby is a giveaway. The annual FBT and related taxes on a vehicle with a cost price of $40,000 …
FBT on Motor Vehicles – Consider Yourself Warned Read More »