Tax news stories
Two-thirds of small businesses don’t fully understand tax returns
New research from Xero has found that 66% of small business leaders in Australia don't understand all parts of a business tax return.
Avoid the sugar high: Making the most of the government's SMB digital sweetener
With the federal election now behind us, small-to-medium businesses (SMB) in Australia still face the same challenges and opportunities they did just a few weeks ago.
'Robo-advice' a low-cost option for financial planning
Only two firms offer low-cost computer-generated financial advice, despite it being available for four years.
BlackLine bolsters financial management capabilities through FourQ acquisition
BlackLine CEO Marc Huffman says intercompany accounting is a ‘distraction’ within F&A for many multinational organisations.
Business Intelligence / BI
Cybersecurity tax hindering investment for A/NZ organisations
Cybersecurity tax will hinder investment in future progress for Australian and New Zealand organisations in 2022, says Gartner.
Amazon Web Services / AWS
AWS "sorting out tax situation" with NZ entity establishment
A corporate reorganisation proposes Amazon Web Services NZ Ltd will replace Amazon Web Services, Inc.
Got crypto? Pay tax – A quick look at IR's new crypto-asset guidance
Inland Revenue's new guidance aims to provide more certainty for New Zealand taxpayers who hold crypto-assets, and to help people ‘get things right from the start’.
COVID-19- 19 leads to sharp rise in independent earning
The increase has been noticeably driven by people looking to start earning independently, as many have been let go from permanent jobs and are seeking alternatives.
Inland Revenue shuts down to make changes to tax system
The revenue system will be closed for a week in April as Inland Revenue introduces a new round of changes to make tax more straightforward.
Inland Revenue cracks down on multinationals' tax obligations
“If they don’t play by the new rules, we will know who they are, and they should expect we’ll be in touch."
Fintech startup Hnry raises $2.15 million in investment round
Hnry was designed to make life easier for contractors, freelancers and other independent earners, providing an online service that takes care of their financial admin.
Growing enthusiasm for Inland Revenue's new provisional tax option
“More businesses are opting to take the guesswork out of provisional tax in favour of the greater certainty that AIM provides."
Jail time for woman who failed to pay $740,000 PAYE
Inland Revenue prosecuted Nicola ‘Nicky’ Dargie for failing to pay PAYE, leading to the liquidation of all of her businesses. It’s not the first time she has been convicted.
IRD warning customers of new email scam over tax refunds
“We’ve received more than 900 reports over the weekend. It looks like the real thing but has some tell-tale mistakes that people can use to tell it’s a scam."
$300m paid out to Kiwis via Inland Revenue's new automatic system
"We want to help avoid paying too much tax throughout the year so we can minimise the annual ritual of waiting to be refunded."
Small and Medium Enterprise / SME
SMEs take note: End of financial year creates oppportunity for business growth
"Waiting until the end of June to consider how to make the most of EOFY will make it difficult to manage the baseline tax and financial requirements, let alone make time for advanced business planning."
Bartercard helping Kiwi startups and small businesses thrive
Here's a breakdown of what Bartercard actually is and how it provides invaluable opportunities for businesses privy of its network.
Time's up, tax dodgers: Multinational tech firms may soon pay their dues
Multinational tech and digital services firms may no longer have a free tax pass to operate in New Zealand.
Payroll software firms prepare for payday filing
Providers have been working closely with Inland Revenue to make sure they can meet their clients’ needs when the changes roll out.
Get ready for the biggest tax changes in a generation
The biggest tax changes in a generation are coming, and they will affect almost every business household and business across the country.
NZTech’s Graeme Muller on the R&D tax incentive
NZTech’s chief executive describes why he thinks the government’s research and development will work, and the pitfalls it needs to avoid.
Inland Revenue to improve AIM tax method with help from early adopters
Inland Revenue’s new Accounting Income Method now has plenty of early adopters and now the focus is on improving the product for year two.
Inland Revenue's AIM tax method signs up 1,000+ early adopters
Inland Revenue says that more than 1,100 businesses have signed up to the new Accounting Income Method (AIM) so far.
Tax, tax, and misunderstandings: They could be why many startups fail in just 2 years
“Too many business startup owners try to do it all on their own, so they rely on their own interpretations, or what their mates tell them."