Tax Tips for Farmers

The agricultural industry places unique demands on farmers, and keeping up-to-date with accounting and tax rules and regulations can be time-consuming. We’ve compiled a list of tips for making your farm accounting easier. Regardless of whether your end of year balance date is 31st March, 31st May or 30th June, take a physical stocktake of…

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Increase in Small Business Audits

Evidence shows there has been a clear increase in audit activity among small New Zealand businesses in the last financial year. Supporting our own recent experiences of clients being targeted by Inland Revenue, the providers of our tax audit insurance offering Audit Shield have published figures indicating substantial increases in both the premium pool and…

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Check Your PIR Every Year

The Prescribed Investor Rate (PIR) is the tax rate that is applied to the taxable investment income earned on your savings under Portfolio Investment Entities (PIEs). Typically your KiwiSaver investments will be PIEs. Favourable tax rates were applied to PIEs when they were created several years ago in order to encourage New Zealanders to invest…

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