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 Stewart & Co Blog

2016 Budget Announcement

Yesterday the New Zealand Government made the 2016 Budget announcement.  Many have commented that this was a very safe budget with not much to discuss.  On the whole more funds are being put into core services such as health and education which is of benefit to all New Zealanders. 

On the tax front there was very little to say.  The pay-as-you-go option for small businesses which we mentioned in our earlier blog was confirmed along with the reduction in use of money interest and penalty charges. However, no tax cuts were announced this year and there was also no mention of introducing a land tax.    Read more…

Motor Vehicle Mileage Rate Update



The IRD have recently reviewed the mileage rate used to calculate motor vehicle expenses incurred in
 businesses.   The mileage rate has gone down from 74 cents to 72 cents per km for both petrol and diesel vehicles for the 2016 year onwards.  This, the IRD says, is a reflection of the lower fuel costs and lower overall running costs for vehicles. 

What this means for you: Read more…

Government Announcement on Upcoming Tax Changes

 

On 13 April 2016, the Government announced a number of tax changes.  The changes are a continuation of IRD's plan of tax simplification and are likely to have a positive impact on many taxpayers.  The biggest changes are as follows: Read more…

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