If you are buying or selling a business or property from 1st July 2021 the new purchase price allocation rules may apply to you. What is the purchase price allocation rules? Prior to 1st July 2021 there was no requirement for vendors and purchasers to agree on each individual asset value when assets were purchased […]

In March of this year the Government extended the Bright-line test to 10 years, the effect of this extension creates what is essentially a capital gains tax on residential property that is unable to be exempted as a main home, a business premises or a farm.  Although intended to target property investors it will have

Parliament has passed the Holidays (Increasing Sick Leave) Amendment Bill to increase the minimum employee sick leave entitlement from 5 days to 10 days per year. Most employees who have worked for an employer for six months or over are entitled to sick leave if they, or a dependent, are sick or injured. Currently, employees

Now is time to talk about the taboo subjects – Strategic Planning and Budgets. Why is it taboo? Well, there are a number of reasons like the following; I don’t know where to start It will cost me It requires effort, time and thought I know my numbers and they are heading in the right

Now is a good time to get familiar with the new Co-operative Difference payment so you can make a plan on how to achieve the standards and receive the 10 cent payment. From 1 June 2021 Fonterra is changing the way farmers are paid for their milk through the introduction of a new milk payment

The Government’s latest announcement regarding changes to legislation in response to soaring house prices will affect existing and future property investors as well as the first-home buyer.  It is clear the government are making the ownership of rental properties less attractive with use of the taxation system.  The potential impact being the exit by these

“The Taxman giveth and the Taxman taketh away” an adage that has always rung true. We are entering a new financial year which brings with it changes to legislation which will be favourable for some taxpayers but not so much for others. A new top tax rate of 39% will apply to all employment income

For many years New Zealanders have had an affinity with Trusts as an ownership structure. Reasons have included protection from business activity (creditors, business compliance risk etc.), government (taxes or means testing), relationship matters or simply management of wealth to future beneficiaries. There is limited information on the exact number of trusts in New Zealand

WHAT IS TERMINATION PAY? Termination pay is another name for the final payment an employee receives when their employment ends. It differs from regular pay because it includes: Any time worked since the last pay period. Any leave entitlements owed to the employee. Any other contractual benefits such as notice periods or redundancy compensation. Any

What does it mean when you reduce an employee’s pay or hours? The current pandemic has seen a lot of confusion for employers as well as for employees about what happens when hours or pay are reduced. So, first things first, in general terms, an employer cannot reduce an employee’s pay or hours without first