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What are the practical implications of the new property tax rules?
As many readers now know, a new wave of tax compliance has been imposed on taxpayers who purchase residential properties. Unfortunately, for the unsuspecting few, this could lead to a visit from the Tax Department. So as the dust settles on the new property tax rules what do taxpayers need to be aware of and what is the likely future impact of the changes? First let’s quickly recap the new property tax rules…
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Fringe benefit tax on motor vehicles used by employees
Making savings with your FBT can save you a few thousand a year – and being smart around how you make available company vehicles to employees is one option. Graham Lawrence reports.
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3 employee share scheme options to help incentivise your team
An effective way to attract, retain and incentivise your key people is by creating an employee share scheme. We introduce three popular employee share scheme options that every business should consider.
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What is a New Zealand tax resident?
Armed with a favourable tax case the IRD embarked on a mission to tax overseas individuals who still had property investments in New Zealand. According to the IRD they were still New Zealand tax residents…so exactly what is a New Zealand tax resident in their eyes?
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Your Fringe Benefit Tax guide to common employee benefit mistakes
Many businesses will soon be starting to assess all the non-cash benefits provided to employees to determine whether or not Fringe Benefit Tax needs to be accounted for in their March quarter FBT return (due before 31 May). Graham Lawrence provides a useful guide to Fringe Benefit Tax to help businesses avoid making mistakes that could hurt profitability.