Posts Tagged ‘compliance’
COMPANY DIRECTORS: ARE YOU TRADING RECKLESSLY?
Company directors: are you trading recklessly? Many business owners choose a company structure because it provides limited liability protection. That creates a valuable separation between the company’s obligations and the personal assets of its shareholders. Many directors misunderstand the limits of that protection, though, and the consequences of getting it wrong can be severe. 30-Second…
Read MoreOVERSEAS PENSION NZ TAX RULES: HOW DO I GET THE MONEY BACK TO NEW ZEALAND?
Basically, Foreign Investment Fund (FIF) rules are there to declare your foreign investments, as the name suggests. If you haven’t been using these up until now, the proposed new rules will effectively be compulsory.
Read MoreWHAT IS AUDIT INSURANCE?
WHAT IS AUDIT SHIELD INSURANCE? It’s an insurance to pay your accounting and legal costs if IRD start asking questions
Read MoreWHAT IS A SOLVENCY RESOLUTION?
WHAT IS A SOLVENCY RESOLUTION? A solvent company is one where the assets are more than the liabilities. An insolvent company is the opposite
Read MoreWHAT IS FATCA? AND WHY IS MY BANK WRITING TO ME ABOUT IT?
FATCA NZ bank customers get letters about every year, and most people have no idea why. That’s especially true if they’ve never set foot in the United States. This guide explains what FATCA actually is, and why your bank is asking. It also covers a closely related rule that catches even more people out: CRS,…
Read MoreCOMPLIANCE REQUIREMENTS – LTCS AND COMPANIES
COMPLIANCE REQUIREMENTS – LTCS AND COMPANIES. What are the Compliance Requirements for your LTC (Look-Through-Company) or standard Company? First let’s talk about your obligations as a director.
Read MoreCHANGES TO FINANCIAL REPORTING REQUIREMENTS FOR SMES
ou might have heard of the Financial Reporting Act 2013 and the Financial Reporting (Amendments to Other Enactments) Act 2013. Maybe not. Anyway, changes which took effect on 1 April 2014 mean that entities that do not meet the large entity definition will no longer be required to prepare financial statements in accordance with NZ GAAP.
Read MoreNZ FIRE SERVICE LEVY AND YOUR LTC
NZ FIRE SERVICE LEVY AND YOUR LTC… you might receive a letter from the New Zealand Fire Service asking you to make a Statutory Declaration.
Read MoreCOMPANIES OFFICE RETURN NZ? NZCO?
Companies Office return NZ? NZCO? What’s that? These are two of the most common questions we get from new company directors. It’s not a tax return, and confusing the two can lead to a company being struck off the register. 30-Second Read NZCO is short for the New Zealand Companies Office, part of MBIE (the…
Read MoreWHAT BUSINESS EXPENSES ARE TAX-DEDUCTIBLE?
What business expenses can you deduct in your income tax return? It depends on your business structure, but includes things such as:ACC leviesaccounting feesbank chargescontractor costsdepreciation (wear and tear)entertainment (be careful!)home office expenseslease or rental costslegal feesmotor vehicle expenses e.g. WOF, registration, repairs, insurance, FBTpurchases (for business purposes e.g. stock, materials)travel e.g. fuel, parking, business travelstationery, printing and office costs […]
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