business taxation tagged posts

NZ Businesses Spending Less Time on Tax Filing

November 16, 2016 New Zealand Taxation

New Zealand business tax complianceTechnology is helping New Zealand businesses vastly reduce the amount of time that they spend on their tax filling.

On November 16th the Revenue Minister Michael Woodhouse and Small Business Minister Craig Foss announced that the results of new survey have shown that small businesses in New Zealand are spending a decreasing amount of time each year on their tax filing obligations.

On average businesses in New Zealand spend 27 hours each year on their tax compliance.

The current time spent on compliance is 25 percent less than the amount of time which was spent in 2013.

The results of the survey showed that business owners found that recording information was the most time consuming aspect of their tax obligations.

GST was found to be the most time-consuming tax type, requiring an averag...

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Tax Reform Package Announced in New Zealand

April 15, 2016 New Zealand Taxation

Small businesses in New Zealand will soon enjoy easier tax procedures and lowered tax bills.

The Prime Minister of New Zealand John Key has announced a package of tax changes aimed at helping reduce the burdens faced by small and medium sized businesses.

One of the key changes announced is the introduction of new “pay-as-you-go” system for paying Provisional Tax obligations.

The new system will be available to small businesses which utilize accounting software packages which are linked to the IRD, and will allow the business to make Provisional Tax payments based on their actual accounting profits, and not estimates of their profits for the year.

Further, businesses which make use of the uplift method for calculating Provisional Tax obligations will not face any Use-of-Money-Interest...

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Toilet Tax Stinks, Says Motel Association Chief

October 5, 2015 New Zealand Taxation

Motels across the country are being unfairly targeted by toilet taxes which do nothing but clog up business with red tape and extra costs.

In a statement issued late last week the Motel Association of New Zealand (MANZ) called on local council in New Zealand to drop “toilet taxes”.

Currently some local councils in New Zealand levy a charge on commercial premises, with the amount to be paid based on the number of toilets within the premises.

In its statement the Motel Association claimed that the tax had a disproportionately large effect on accommodation providers, which have a far higher number of toilets compared to businesses in the hospitality industry.

Commenting on the tax, the Chief Executive of the MANZ Michael Baines called on councils to drop unnecessary taxes, and, instead, ...

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