The National promised tax cuts came into effect on the 1st of April, 2009. As of the first of April, 2009, a number of changes are taking place in the New Zealand taxation system both in regards to business and personal taxation. To the everyday individual, most noticeable amongst these will be the introduction of the Independent Earners Tax Credit, which will deliver a net $520 ($10 per week) to those earning between $24,000 and $44,000. This decrease at 13 cents per ... Read More

The tax relief package introduced by Parliament on the 10th of February has passed through its final stages of Parliament approval and requires only Royal assent. The business tax relief package which was introduced by the National led Government and aimed at bringing tax relief to the small and medium enterprises (SME) of New Zealand, has been passed through parliament. According to Revenue Minister Peter Dunne, the 96% of New Zealand businesses which are SMEs will find this package useful in weathering the ... Read More

The Inland Revenue Department (IRD) has issued a statement reminding people of their option of changing the way they pay Provisional Tax, and the impending deadline of the option. The IRD is allowing people who opt in before the end of March to use the new “ratio option” to calculate their provisional tax liability. According to the IRD this option would be most beneficial to businesses with heavily fluctuating cash flows. The new system will be calculated based on the most recent GST ... Read More