The winter may be almost upon us, but we’d like to remind you that you now have two public holidays to look forward to in the month of June. Matariki – the Māori new year – will be celebrated for the first time on Friday 24 June. This will be a time for remembrance, celebrating the […]
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On the 29th of March Parliament passed the Taxation (Annual Rates for 2021-22, GST and Remedial Matters) Bill. This bill includes measures aimed at limiting the deductibility of interest incurred for residential property investments and updates to the residential property bright-line test. Interest limitation rule From 1 October 2021, interest will not be deductible for […]
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The Gilmore Taylor Team are a proud sponsor of this year’s Cancer Society Relay For Life. On Friday 1 April from 2pm-6pm our team will be completing laps of the Hātea Loop With your support, we’ll make a real difference for New Zealanders with cancer and their whānau. 100% of the funds we raise will […]
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February 2022 2022 livestock values for tax purposes The National Standard costs for the 2021/2022 income year were released on 28 February 2022. They are produced in the table below: The NSC value of an animal is calculated with its cumulative costs and an adjustment for sales and purchases. For example a Rising 2 year […]
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Considering trading NFT’s from your favourite artist?
You may have tax obligations
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Minimum wage increase – 1 April 2022 The minimum wage will rise to $21.20 an hour from April 1. It is currently set at $20. The 6 per cent increase is just above the annual rate of inflation recorded in the December quarter. The starting out and training minimum wage will increase from $16 to […]
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The extension of the Brightline Test last year from 5 years to 10 years has resulted in families having to pay tax unexpectedly where parents have assisted their children with purchasing a home and their equity share had been sold, or the property sold. The Brightline Tests means when parents purchase an equity share in […]
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These are five things to note for employers and employees to prepare for the upcoming holiday season. 1. A business may close down over the holiday period Businesses can have an ‘annual closedown’ for their whole business or a part of it. They must give their employees at least 14 days’ notice. It’s best to […]
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Employees are now eligible for paid time off from work to receive their COVID-19 vaccination. Many employers are already doing this to encourage their workforce to be fully vaccinated. New Zealanders should consider getting vaccinated as soon as possible. Employees will be entitled to reasonable paid time away from work to receive a COVID-19 vaccine. […]
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The unemployment rate is down to 4% and for some industries like hospitality and horticulture, the labour shortage is crippling. For others, like the construction sector, COVID-19 has drawn a double-edged sword: endless work but a lack of skilled labour. Whether you’re looking to expand and hire, recruit to replace, or keep your hotshots in-house, […]
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