“This is going to hurt”. That’s the message from New Zealand Prime Minister, Jacinda Ardern as the country prepares for the consequences of the Coronavirus outbreak.
The New Zealand government has announced that it is preparing to spend big in order to reduce the impact on the New Zealand economy.
There have been a number of announcements with regard to the tightening of New Zealand’s borders.
To date, these announcements have focused on the movement of people into New Zealand.
It’s that time of the year again when you’ll need to start gathering together your accounting and tax information for the year ended 31 March 2020.
Set out below is a list of items that will assist you with this process, and remind you of some of your tax obligations.
Inland Revenue has issued a new statement to assist in determining the deductibility for New Zealand income tax purposes when costs are incurred in relocating employees to a distant workplace.
This may also address the common question posed by Australian-controlled New Zealand companies where Australian residents are sent to carry out work in New Zealand.
Inland Revenue has announced that tax relief and income assistance are available to people affected by the downturn in business in New Zealand as a result of the outbreak of Coronavirus COVID-19.
They have announced a range of ways to help depending on a person’s circumstances.
If you supply telecommunications tools to your New Zealand employees and pay for Internet plans you should be mindful of an announcement by Inland Revenue with regard to income tax deductibility of phones and phone plans.
Unlike in Australia, there is no opportunity to salary sacrifice in New Zealand.
Australia brought in legislation which impacts on some New Zealand companies supplying product back to Australia.
The new rules particularly impact on Internet sellers and other New Zealand businesses that supply product to consumers in Australia (rather than those that supply to Australian businesses).
If you are on your way to New Zealand and joining a guided hunt with the intention to bring animal souvenirs back to Australia, is probably going to be New Zealand GST to pay. But depending on what it is will determine how much, if any, GST will be added to the price.
New Zealand is getting closer to implementing a significant change which will impact on a number of Australian businesses who are exporting small consignments to New Zealand customers.
The current practice is that when goods are shipped to New Zealand in consignments valued at less than $400, they are allowed to pass through New Zealand Customs directly to the customer.