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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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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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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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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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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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There are many New Zealanders who have chosen to invest in Australian residential rental property, and this brings with it a number of important considerations.   Ownership structures I have been asked many times what is the best option for this investment, i.e. personally, in..

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In the past day I have had a number of clients ring me in a panic saying that the IRD have texted them to say that they owed money for unpaid tax and offering a link to enable the payment. I have advised them to..

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