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Tax Structuring for the 39% Tax Rate
In the 2020 election, Labour promised to introduce a new top tax rate of 39% on income over $180,000, likely to take effect from 1 April 2021.
Returning to work early from parental leave
COVID-19 has resulted in some employees on parental leave wanting to return to work early, be it for financial or other reasons.
Inland Revenue signals their attention to offshore employers with New Zealand-based employees
With the current global pandemic more and more kiwis are returning home and continuing to work for their offshore employer.
Changes to Property Tax Exemptions slipped in latest Tax Bill
The Taxation (Annual Rates for 2020-21, Feasibility Expenditure, and Remedial Matters) Bill was introduced to Parliament on 4 June. The Honourable Stuart Nash said this legislation was to “support growth and assist businesses on the road to economic recovery.
Tax law changes for businesses impacted by COVID-19
Inland Revenue has released an update for businesses affected by COVID-19 covering recent tax changes. These changes are intended to help businesses with the impacts of COVID-19.
GST Considerations due to COVID-19
As of Thursday, 14 May 2020 we are at Alert Level 2. This means that even more businesses will be allowed to resume operations.