BDO Know How, October 2014
BDO Know How is our bi-monthly business newsletter providing updates on key business and tax issues which you need to know to best optimise your business.
We explore:
- Tax crack down
Last year, the Financial Reporting Act 2013 was passed into law. The Act requires a number of changes to financial reporting, which will impact on many small and medium businesses across New Zealand...
- Is Tax avoidance okay?
This is another one of those urban myths. Tax avoidance is not acceptable to Inland Revenue and they have very strong powers to set side and unpack tax driven deals.
- Spinning losses into gold
Coming out of the 2014 Budget is some welcome relief in the Research and Development area. Long renowned as innovators, New Zealand businesses put time and money into ‘R&D’, regardless of the tax breaks. However, internationally, we lag behind in terms of tax incentives...
- Bach to the future
On the face of it, the new mixed-use asset rules (those which apply to the Kiwi bach amongst other things) appear quite complex. They’re actually not. Consider a simple yet familiar example of a holiday home rented for 12 weeks a year, used by the family for 8 weeks a year and unoccupied for 32 weeks a year...
- New .nz domains coming soon
If your business has a website, now’s the time to protect your brand by registering or reserving the .nz version of your domain. With a short, simple .nz domain name, you’re showing the world and your customers you are a New Zealand organisation...
- Is it time to transfer your UK pension?
Have you got a UK public sector pension, such as an NHS, teachers, local government, armed forces, police or firefighters pension? If so, please be aware that the UK has announced significant changes to their pension rules which will see public sector defined benefit schemes as being unable to be transferred to NZ from April 2015 onwards...
- Online payments to Inland Revenue
From 1 October 2014, you’ll need to ensure Inland Revenue receives your cheque payment on or before the due date to avoid penalties and interest. It’s important that your payment and return reaches Inland Revenue on or before the due date. If they’re late, you may incur penalties and interest...