Head in the Clouds

Callum Mills of Ideal Systems discusses the increasing influence of Cloud Computing

In just a few years the ‘cloud’ has transformed from being a techie buzzword to a legitimate tool that cuts cost, boosts productivity and eases capital expenditure.

Cloud computing refers to on-line services that you can access from any device that is connected to the internet.

At the most basic level, cloud computing can be utilised to store or backup files to a server on the internet.  These files are usually automatically stored on both your local system and in the cloud as soon as you close the document or application.  These files can then be accessed by you from any internet enabled device such as a laptop, desktop, tablet or smart phone.

With some systems you can allow other people, with whom you collaborate, access to all or some of your data.

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Congratulations Learning Media Limited

          Learning Media Limited Dominates CLNZ Educational Awards Tim Livingstone is a director of Learning Media Ltd, who have achieved success in the Copyright Licensing New Zealand (CLNZ) Educational Publishing Awards held during November 2012. The Copyright Licensing New Zealand (CLNZ) Educational Publishing Awards were established three years ago to recognise…

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The Year in Review – 2012 Tax Round Up

The 2012 year may not have brought about many profound changes to the tax system, compared  with 2011, but there has been the usual ‘tinkering around the edges’. Here is a summary of the changes we have seen in 2012, from Jim Martin, Head of Tax:

  • The removal of the under $9880 Tax Credit and the Child Care and Housekeeper Tax Credits.
  • Changes to the Child Tax Credit so that it will not be available on income that has been taxed at source, for example where PAYE or withholding tax has been deducted from a child’s earnings.  This change will mean only the first $2,340 of a child’s earnings will be tax free, provided they are not taxed at source.
  • In the 2012 Budget $78.4M was set aside to further improve tax audits and compliance activities.
  • Clarification of the interest deductibility rules for Look-through Companies (LTCs).
  • Clarification on which types of buildings may continue to be depreciated for tax purposes.
  • The motor vehicle mileage rate set by Inland Revenue was increased to 77c per kilometre.
  • The Charities Commission was disestablished and its functions and duties reassigned to a Board and the Chief Executive of the Department of Internal Affairs.
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The Strange and Wonderful World of Tax

As has become custom for the final newsletter of the year we like to end on a lighter note so for this month only, Taxing Matters is replaced by The Strange and Wonderful World of Tax which takes a look at the entertaining side of tax.

India Taxes Working Elephants

Owners of working elephants in India that are used at temples, festivals, parties or other ceremonial occasions are now required to charge a 12.36% service tax when hiring out their elephants.

Lap Dances Not Tax Exempt

The New York state tax department and an appeals court disallowed a New York strip club an exemption from state taxes when the strip club claimed an exemption on the grounds that its nude lap dances were an art form. The state Tax Appeals Tribunal said the club didn’t provide sufficient evidence that it qualified for the exemption.

‘Nutella’ Tax Approved

In an effort to discourage the consumption of oil rich in saturated fats the French Senate approved an amendment that would quadruple the tax of palm oil. This has become known as the Nutella amendment as palm oil is a key ingredient of the spread.

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