With us, registration is free for your company & business. What normally costs you NZ $500+, now, it’s FREE for the First 100 clients, every month. Which business structure suits you best? Limited Company, Trust, Partnership, or Sole Trader? Our FREE registration will cover this for you and more. Not sure how to register your business with IRD? Or if you should register for GST? Don’t worry, all this is covered with our FREE registration. Talk to us now.
Need more information on NZ taxes? You've come to the right place.
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Inside Accounting4Me Website
Most Kiwi businesses either fail or quit within the first few months, and that's mainly due to the complex tax and accounting system in NZ, not to mention, the various levels of registration. This is where we come in and aid you in meeting your business goals. We, at Accounting4Me, not only offer you FREE company registration but will also include the Government registration fee of $165.
Goods & Services Tax (GST)
Introduced in 1986, Goods and Services Tax (GST) is a value-added tax or consumption tax for goods and services consumed in New Zealand. Initially set at 10%, the rate increased to 12.5% in 1989, and settled at 15% since 2010. Our Chartered Accountants are well-versed with GST and how it should apply to each business's turnover — whether it's turnover is less than $60,000, or more than that. And you will never miss your GST filing date.
Keeping Up With Bookkeeping
For any business-starter, this has by far been the most important point, and well, it has to be. Also remember that these records - receipts, proofs, documents, etc. - have to be carefully stored for up to seven years. But what records should you keep? Where to keep them? Well, Accounting4Me has summarised a list of the types of record-keeping you should be aware of. And how to make it easier on yourself by simply checking out YOUR STARTER PACK CHECKLIST.
Pay As You Earn (PAYE)
Waged and salaried employees are taxed directly from their income earned. This is known as PAYE (Pay As You Earn), sometimes also referred to as ‘Payroll Tax’. As tax agencies ourselves, we understand very well your responsibilities for deducting and paying PAYE income tax on your employees' behalf. In fact, our trusted partners at www.payecalculators.co.nz can help both you and your employee calculate the take-home pay anytime, and completely for free.
Fringe Benefits Tax (FBT)
FBT, short for Fringe Benefits Tax, are benefits paid to an employee in place of salary or wages, including benefits provided by someone other than their employer. Here at Accounting4Me, we understand the traits and benefits of FBT, which is separate from income tax and is calculated on the taxable value of the fringe benefits provided. It is also different from PAYE as those are cash benefits treated as normal salary and wages.
Provisional Tax For Startups
Provisional Tax (PT) is not a separate tax. When you first start a business, you don't have to pay any income tax to IRD for quite some time. Here, we will explain to you how PT is calculated, when you ought to pay it, and how! Accounting4Me is all about helping you make your business idea a reality. We've noticed that, in fact, quite a few Kiwis have great ideas for new business ventures but are reluctant to try it due to lack of guidance in the legal or financial aspects of it. But that's what we're here for!
Depreciation & Non-cash Expenses
Depreciation is sometimes referred to as "non-cash expenses". Inside, we will explain why with examples so you get a better idea, and even teach you how to calculate the basic depreciation using a simple and easy method. We do this because we believe that it is especially applicable and can be very helpful to business people involved in farming, rental, machinery, and any other self-employment for that matter.
Everything About Business Audit
Auditing is merely the IRD examining your financial affairs to check if you are complying with their tax laws, and that you have paid your taxes. A lot of New Zealand business owners believe that their chances of being audited are slim, that they don’t need to worry about it. Wrong! And we'll tell you exactly why, along with giving you some tips on how to slim down your chances of getting audited.
Concerned About Tax Penalties?
Failure to meet your tax obligations may result in civil penalties, criminal penalties, or, worst case scenario, both. For example, tax evasion is both a criminal and civil penalty. NZ law requires that your tax returns be filed on time, else, pay a late filing penalty which can keep increasing depending on your net income. With Accounting4Me, you will not have to be concerned about being penalised. We've also compiled a list of some of the most common reasons and excuses for tax penalty.