Changes to how Inland Revenue sends your mail

Inland Revenue have been busy implementing their Business Transformation Programme, a multi-stage project designed to modernise the tax system. By streamlining processes and upgrading online services, they aim to make it easier for New Zealanders to manage their tax obligations.

As part of the latest updates to myIR (Inland Revenue's secure online tax platform) they have made changes to how they manage mail to their customers.

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Penalty increases proposed for NAIT non-compliance

NAIT RFID tags in foreground, milking shed in background: penalties may increase for NAIT non-compliance

The National Animal Identification and Tracing (NAIT) scheme is a system which links people, property and livestock. It was developed to identify and trace livestock (cattle and deer) within New Zealand, in order to manage biosecurity incursions such as disease outbreaks, and improve food traceability and consumer confidence in our food products.

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Tile layer: changes to ACC CoverPlus levy invoicing for self-employed

If you are self-employed you'll automatically be on ACC CoverPlus.

Until recently, ACC estimated your CoverPlus levy based on your previous year's earnings and issued invoices on this basis.

Following an ACC levy consultation last year, it was decided that from the 2020 year your levies will be based on actual earnings for that year, as filed with Inland Revenue. This change makes the CoverPlus levy simpler, both for you and ACC.

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2019 herd scheme values have been released by Inland Revenue

Group of brown and white cows with green grass in foreground and blue sky and sun in background: 2019 Herd Scheme values

In May each year, Inland Revenue release their determination of national average market values (NAMVs) of livestock for the prior financial year.

The NAMVs are used by taxpayers who have elected to value livestock using the herd scheme to value their livestock on hand for that income year.

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Tax refunds paid in error - check with us before you spend them

Inland Revenue - Te Tari Taake logo

Be aware of "accidental" tax refunds which may have been issued over the Easter and ANZAC public holiday period.

There have been reported instances of people receiving unexpected refunds from Inland Revenue, with a high chance these were paid in error and needing to be paid back.

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Partial cheque and envelope: why it's time to switch from paying Inland Revenue with post-dated cheques

We posted a blog article on 26 October 2018, regarding Inland Revenue's announcement they would no longer be accepting post-dated cheques from 1 February this year.

Following feedback Inland Revenue received in response to this decision, they have now put this change on hold while they review all non-electronic payment methods, to ensure these are still relevant and necessary.

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Getting professional business advice to ensure maximum profits is a no-brainer. But finding the right adviser takes time and money. Something often lacking in the busy day-to-day of running a business.

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The Provincial Growth Fund - what is it, and how to apply

Money growth: what is the NZ Government's Provincial Growth Fund (PGF)

The Provincial Growth Fund (PGF) was set up by the Government to assist in growing business opportunities in the regions. The objectives of the PGF is to create jobs that lead to sustainable economic growth and diversification within our economy.

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Top Ten Tax Tips - get sorted before 31 March!

Tidy stationery: Top ten tax tips to get you sorted before end of year

With not long to go until financial year-end, we recommend giving some thought to the following suggestions so you can start the new tax year prepared and organised:

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Uncluttered workspace: IRD simplify tax obligations and donations tax credit claims

Inland Revenue's ongoing and far-reaching tax system overhaul includes streamlining efforts aimed at individuals. The changes will simplify and largely automate end-of-year tax obligations for PTS (Personal Tax Summary) and IR3 filers.

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WDC adopts Easter Sunday shop trading policy

Miniature shopping trolley with easter eggs: WDC adopts Easter Trading policy

Further to our prior blog posts from 21 February 2017 and 24 March 2017, it is now confirmed Whangarei District Council adopted the Easter Sunday shop trading policy on Thursday 21 February 2019 with immediate effect.

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Employment changes coming in 2019 - a broad overview

Happy cafe worker - employment changes coming into effect early 2019

There were a few bills passed by the Government in 2018 relating to employment legislation, as well as Inland Revenue changes regarding the filing of employment information.

Here is a broad overview of what will be coming into effect (and when) this year:

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Group of black/white cows with green grass in foreground and blue sky in background

In January each year, Inland Revenue release their determination of national standard costs (NSCs) of livestock for the financial year. The NSCs are used by taxpayers who have elected to value livestock using the national standard cost scheme, to value their livestock on hand for that income year.

The NSCs for the 2018/2019 year were released on 24 January 2019.  Click here to see these values, as well as the 2017/2018 year values for comparative purposes.

Happy barista: 5 simple ways to build your business's brand equity

The Key to Success - Ean Brown Partners Limited's blog series

Blog Series part 4

Let's face it, business branding and marketing is hard work. It takes a lot of time, dedication, effort and money. When someone is busy working in and on the business, this tends to be the first thing to move down (or fall off) the priority list.

But the good news is, earning yourself brand equity (you'll remember from this earlier blog post that brand equity is the customer loyalty and trust your business builds up over time) can be achieved by doing the following five simple things frequently and consistently:

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BREAKING NEWS! Minimum wage set to increase 1 April 2019

New Zealand coins and bank notes

The Government announced it will raise the minimum wage by $1.20 from 1 April 2019. It will be the largest increase since 1985.

This will increase the adult minimum rate from the current $16.50 to $17.70.

The starting-out and training rate will remain at 80% of the adult rate, rising to $14.16 from the current $13.20.

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