Quarterly Newsletter


Underpaid income tax?

Underpaid provisional tax can cause a few headaches.

Maybe you did not keep up with your provisional tax payments throughout the year. Perhaps you did not end up paying enough because you had a better-than-expected financial year. It could be that seasonality or volatility make it difficult to forecast your provisional tax payments.

Whatever the case, owing the taxman additional income tax can put pressure on your business's cashflow. With Inland Revenue's interest clock continuously ticking at 8.27% (9.21% for tax debt incurred up to 8 May 2016) the cost can quickly add up.


Tax pooling

An option we have discussed before is tax pooling. It is a service designed to reduce interest costs and provide payment options for provisional taxpayers.

Learn more about this...


New GST online filing

The first steps towards tax simplification lie in the new option for taxpayers to file GST returns online.

Inland Revenue has been working with two software providers to pilot a service so taxpayers can file their GST returns directly from their business software.

Learn more about this...


Tax talk

In April, the Government announced proposals to simplify business tax, with legislation to be passed in August this year. If the legislation is passed the earliest of the changes would take effect from April 2017, with more coming online in 2018.

Here is a summary of the intended changes:

Learn more about this...


Mileage rate changes

Inland Revenue announced in May that the Commissioner had reduced the mileage rate ...

 

Learn more about this...


Contact Us

If you wish to discuss any of the matters raised in this month's issue of Dollars and Sense, please contact our office - a member of our friendly team will be happy to assist.

 

Kind Regards

The team
Ean Brown Partners Limited


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Disclaimer

The information contained in this newsletter is of a general nature and should be used as a guide only.
A senior representative of Ean Brown Partners Ltd should be consulted for specific advice before any action is taken.


Meet The Team

Ean Brown
Director
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Barbara Collinson
Team Manager
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Andrea Allen
Chartered Accountant
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Flynn O'Meara
Accountant
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Jared Slatter
Chartered Accountant
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Jessie Alison
Chartered Accountant
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Pam Brown
Accountant
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Sally Adams
Chartered Accountant
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Valeria Maw
Chartered Accountant
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Vicki Cozens
Chartered Accountant
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Bonny Rowson
Administration
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Julie Jenkins
Administration
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Sandra Crene
Receptionist
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Sheila Ujdur
Administration
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