News and Media

IRD introduces new tax option for SMEs

21st February 2018

Inland Revenue is urging businesses with annual turnover under $5 million to talk with their accounting software provider or tax agent about a new option that allows them to pay provisional tax only when they are making a profit.

The Accounting Income Method or AIM makes managing cash flows simpler because provisional tax payments are based on the business’ actual results.

Click here to read the full article. 

Kiwi accounting software provider develops integration with IRD

28th November 2017

New Zealand accounting software provider CashManager has struck a deal to develop direct GST integration with the Inland Revenue.

Designed to make filing GST returns easier for businesses, the new service is available to both online and PC-based customers.

Click here to read the full article. 

Diana Clement: Paying tradies cash not okay

16th July 2017

Do you pay your tradies cash? You could be enabling tax evasion.

A good chunk of law-abiding Kiwis think the concept of cash jobs is fine, according to a Facebook discussion on the subject I followed. "It's personal choice," one wrote - even though those tradespeople may put that money in their pockets and not pay tax.

Logically, it's therefore personal choice if you want to mug someone in the street for their wallet or break into their homes and steal stuff. Receiving cash for work and not paying tax on it is a crime.

Click here to read the full article. 

IRD begins new 'cashie' crackdown campaign

18th October 2017 

Inland Revenue has launched a new advertising campaign warning tradespeople that cash jobs can be traced.

IRD, which uncovered $159m of unpaid tax from the cash jobs and the "hidden economy" last year, said that the message will appear online and around Auckland, Wellington and Christchurch in bus shelter ads and other outdoor advertising.

Click here for the full article.