A guide to income tax for business owners
We’ve built this article around the questions we frequently get from new business owners. Scroll down, or feel free to jump straight to the one on your mind! What is provisional tax? The moment it’s anticipated that you’ll pay more than $5,000 in tax per year, you enter the IRD’s provisional tax regime. Provisional tax […]
Profit ≠ bank account balance
Did you know that cash and profit aren’t always the same thing? Let’s explore the reasons why they may not perfectly align.
Paying Tax (or Not)
Paying your fair share of tax is required by law, but paying too much is unnecessary.
When does Inland Revenue charge penalties and interest?
You may be wondering if, why, and when the IRD charges interest and penalties. Well, they do have a method to what appears to be madness! Late filing penalties Penalties paid to the IRD cannot be claimed as business expenses. Penalties can be charged on all tax types except Student Loans. The penalty will range […]
