TAX CHANGES AFOOT

TAX CUTS Currently (in mid-2017), the tax thresholds are as follows (before the 39% rate of 2021 was introduced): As you may recall, these were to be changed. However, due to a change of government, there will be no change to these tax rates. There will no doubt be lots of other changes coming; we…

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SSL, SITE SECURITY

As a result of changes imposed by Google, we will soon be acquiring an SSL certificate for our website.  The host, weebly.com, is rolling this out to all sites.  Meantime, if you wish to check our credentials, you can do so here.​For more information, please contact us

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USING U-SIGN-IT.COM

HOW TO VIEW DOCUMENTS You will be sent an email with a link.  Click on the link to view the document. This will open in a web browser on your device. To view the document, click on it. HOW TO APPROVE DOCUMENTS Click on the email link once again, scroll to the bottom of the…

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PROVISIONAL TAX CHANGES

From the 2018 income year (that is, 1 April 2017 onwards), the safe harbour threshold has been increased! Hooray, I hear you say. It’s gone from $50,000 to $60,000. It has also been extended to non-individual taxpayers e.g. companies.  What does this mean? Use of Money Interest (UOMI) will only be payable from terminal tax date* for natural persons…

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HOW TO EXPORT FROM .NUMBERS TO .XLS

First, open your sheet on your iPhone or iPad. Next, touch the three dots at the top right-hand corner Then, choose Send a Copy​Touch Excel Lastly, email to us or share to your Google Drive or Dropbox.com, then share to office@epsomtax.com

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COMMON QUESTIONS ABOUT TAX POOLING

If you have to pay provisional tax, then there is a good chance you’re using tax pooling, courtesy of Tax Management NZ (TMNZ). We’ve collected a few common questions here to help. If your question is not here, please see this page or contact us. WHY IS IRD CONTACTING ME ABOUT OVERDUE TAX IF I’M USING TAX POOLING?…

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PRICE INCREASE

You might have noticed that your invoice is a little bit more this year. Why? REASON 1 Did you buy another investment property during the year? If so, that requires a bit more work to account for that, usually a couple of hours. REASON 2 It might be a price increase.  ​We haven’t raised our…

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SHARPEN YOUR AXE!

What does this have to do with your tax? Well, we might have asked you to supply information, clarify a request etc etc. We know you’re busy!  But we don’t hear from you promptly. Instead, it drags on and on. Frankly, that doesn’t help you, us, anyone! So, what we ask is this1. stop for a…

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THE NUMBER 1 MOST EFFECTIVE TACTIC FOR SAVING MONEY

Have you ever felt like you *should* be able to save more (especially when you look at how much you earn) but somehow, you don’t? And when you do try to save, does it feel like you’re just penny pinching; spending a little bit less money but a lot more time and energy to live a…

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RENTAL PROPERTY: ARE LEGAL FEES DEDUCTIBLE?

The answer is maybe.  It really depends on your circumstances. If  you are in the business of renting properties, and your total legal expenses for the income year are $10,000 or less then you can claim legal fees. If they are over the $10,000 mark… well, in rental residential property that is highly unlikely! Please…

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