Hot Topic articles

Our Hot Topic articles are about topical 'here and now' business issues and come with useful recommendations to help you save time, energy, and money:

While we have done our best to ensure the information in these web pages is true and accurate, we do not accept any liability for any losses suffered by anyone relying upon the information contained here. We recommend you should consult your accountant before acting on any information outlined on these web pages.

Directors obligations

Most company directors are unaware of their obligations to the Companies Office. Here we outline company directors’ duties and responsibilities, in terms of statutory requirements for a company to keep records, to help you better understand the requirements. Find out how to avoid being fined here.

Tax planning for the new year

Take the time to consider ways to minimise tax and maximise cash surpluses for the coming year. Find out how to save tax here.

To gift or not to gift? And how much?

From 1 October 2011 you will be able to gift off any loan without worrying about gift duty or telling IRD. If you have a gifting programme in place or are thinking about gifting off some assets into a trust then you need to read this.

Renting your home out for the Rugby World Cup

IRD will be keeping a close watch on taxpayers offering short term rental and accommodation for major events like the Rugby World Cup. If you are thinking about renting your home for the Rugby World Cup then you need to read this.

Changes to QC's and LAQC's

The recent Loss Attributing Qualifying Company and Qualifying Company tax changes will see the end of LAQC's, no more QC's, and the introduction of Look Through Companies, all from 1 April 2011. Find out what you should do with your QC or LAQC.

2010 Budget changes to Working for Families

From 1 April 2011, the Government has changed how Working for Families entitlements are based by altering the basis on which a person's entitlement is calculated. Find out how these changes will affect your entitlements.

Government review of Trusts

Trusts are under the Government's microscope due to concerns many trusts are invalid and should not be permitted to continue. The Law Commission's second issues paper highlights "some issues with the use of trusts in NZ" warns us that improperly managed trusts should not be allowed to continue. Find out if your trust could be at risk of being made invalid.

If you want to save tax, start by looking at how you structure your borrowings.

Personal debt costs you more than debt used to earn income. Find out here how to save tax by being smarter about how you borrow money.

Thinking of claiming an expense you shouldn’t or not declaring some income you should? Be careful!

Taxes are firmly stacked in the IRD's favour. If you want to know just how much taxes favour the IRD then you need to read this.

Is your Trust a Good Trust or a Bad Trust? Get it wrong and you may as well kiss your assets and money goodbye.

Whether you have a trust or are thinking of using one, you need to read this. You may be wasting thousands of dollars either getting a trust, or in managing it. Worse still, your trust may not hold up under scrutiny and any assets you placed in your trust could be ‘fair game’ to any partner or creditor. Read more >

Wage earner or unemployed? Is the recession getting you down? Want help?

We look at the risks to you when jobs are scarce and money tight, and ask you some easy questions to see how at risk you may be of losing your assets or facing bankruptcy. To minimise that risk, we've also got FREE handouts of things you can start doing, continue doing, or stop doing and suggest some places you can get help. Read more >

In business or employed by a business? Are you finding it tough? Want help?

We look at the risks to business when customers are tightening their wallets and money is scarce, and then we ask some easy questions to see how at risk a business, and/or its owner, may be of failing. To minimise that risk we've provided FREE handouts of things they can start doing, continue doing, or stop doing and suggest some places they can get help. Read more >

Recessions! It's not all doom and gloom.

We highlight the opportunities for wage earners, unemployed and business owners alike when times are tough. We answer the question of how long the recession will last, and list four things you can do to avoid (or at least reduce the risk of) becoming a recession statistic. Read more >

Financial New Year Checklist

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