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Articles by John Heaslip

John Heaslip

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Cash Payments - IRD crackdown

by John Heaslip 05 Dec 19

Since 2009, the Inland Revenue Department has been cracking down on industries known to pay workers under the table (i.e. undeclared cash payments). According to an article in the NZ Herald in April 2018, New Zealand is missing out on about $800 million in its annual tax take..

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Depreciation is the reduction in value of an asset over time due to wear and tear. In New Zealand, the Inland Revenue Department (IRD) allows depreciation on certain items to be claimed as a type of expense for income tax, so it is beneficial to..

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Changes to boarding service rules

by John Heaslip 28 Jun 19

Over the years I have had wide-ranging conversations with clients about boarding services and how to qualify. The reason people wish to  qualify is as providing a boarding service is if the amount of income you receive falls below either the “weekly standard-cost” threshold or..

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There are a number of issues that New Zealand tax residents must grapple with if they are to invest in Australian rental properties. It’s important to understand what these issues are because they can have a significant impact upon your profitability. Financial Arrangements - foreign..

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If you own (or plan to own) residential rental property in Australia, there are changes to the tax deduction rules that will affect you, particularly if your cash flow is tight. These changes were announced in the May 2017 Australian Federal budget and were passed..

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Proposed FBT changes for SMEs

by John Heaslip 08 Feb 17

A tax amendment for close companies that provide motor vehicles to shareholder-employees has been proposed for the 2018 financial year onwards.OverviewCompanies with five or less shareholders (close companies) that provide their shareholder-employees with a motor vehicle for private use are required to register and pay..

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Tax Changes for SMEs

by John Heaslip 06 Oct 16

In April 2016 the Government announced a new SME-friendly tax package, which will make paying tax easier and more certain, reduce the burden of interest and penalties, and help smaller businesses tailor payments to their own circumstances. PROVISIONAL TAX To give you some background, provisional..

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Small Business Checklist

by John Heaslip 02 May 16

In my day to day interaction with clients I meet a lot of small business owners who are in their embryonic stage. They are busy practising their particular expertise and, as such, most budding entrepreneurs do not willingly spend time thinking about the administration of..

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END OF FINANCIAL YEAR CHECK LIST

by John Heaslip 26 Feb 15

For most clients, 1 April signals the start of the New Year for business and tax purposes and the month of March brings opportunities to minimize tax and maximize cash surpluses for the coming year.   A well known quote “if you fail to plan,..

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