It’s fair to say 2024 was a hard year for many businesses as they attempted to cope with choppy economic weather. Turnovers flatlined, overheads climbed, margins were squeezed and net profits declined. Glimmers of sunshine are lining our horizon however, brought about in part by the Reserve Bank of New Zealand reducing the OCR. This […]
If you’ve read the previous article in Our Roar Newsletter, you know the level of scrutiny IRD brought to bear on taxpayers has increased substantially. Succinctly this means taxpayers need to remain current satisfying their tax obligations. To help clients meet their tax liabilities Tax Pooling is at hand. Tax Pooling was established back in […]
National campaigned on reducing the cost of living for Kiwis, which in part it intended to bring about by adjusting income tax brackets. The Government has made good on its promise and announced in its Budget released on 30 May 2024 the adjustments to tax brackets noted below. These changes are to take effect on […]
People change banks and don’t close accounts. Individuals get sick and forget what investments they took out. People die, leaving insurance policies behind. Money sits in solicitors trust accounts and bank accounts. Money owing by IRD to individuals remains with the Commissioner. These are common examples of unclaimed monies recipients miss out on. Literally at […]
Did you celebrate 26 May with woops of joy and champagne? Maybe you ought to have done as this was Tax Freedom Day. What’s that you might ask? It a hypothetical day in our tax calendar that supposedly marks the time when Kiwis pay off their collective tax bill. Thereafter, apparently, every dollar we earn […]