Tax compliance
While not everyone’s favourite job, compliance is an important necessity for any well-run business.
Axiome will support you to meet your deadlines and when things get complex, we have specialists in the team, or from further afield if required. With a wide variety of clients and accounting experience, we can assist you with all areas of taxation compliance.
Talk to us about how we can tailor a solution to free up your time from the tax jobs you don’t enjoy, and focus on what you’d rather be doing.
- Preparation of all types of taxation returns
- Tax advisory services
- GST
- PAYE & FBT
- Provisional tax compliance
- Tax payment reminders and estimates
- Other withholding taxes
- Taxation structuring
- IRD liaison
- Management of your tax account with IRD
- Assistance with IRD disputes or audits
Tax management
We have found over the years that many clients need a bit more than “just” tax return preparation. At Axiome we provide you with guidance and tax planning for your particular circumstances.
Here’s how we do it
- Based on a careful analysis of your tax situation we can help you to minimise your tax liability through the use of proven tax strategies
- We help you maintain a record keeping system that meets IRD requirements
- We will work with you all year long – not just at tax time
- We can help you navigate the New Zealand aspect of cross-border tax matters
- We are able to facilitate tax financing and tax pool buyback to help manage tax cashflows whilst maintaining tax compliance
- We support business and self-employed taxpayers to meet provisional tax deadlines
- We make sure you take advantage of all available tax deductions
Tax tips
Tax on your overseas share investments
If you own overseas shares (excluding Australian-listed companies) that cost more than NZ$50,000 in total, then you may need to follow the FIF (foreign investment fund) taxation rules, which differ from simply including dividends received in your income tax return. If this is your situation, don’t hesitate to get in touch.
Ring fencing property losses
Losses from residential property rentals can no longer be offset against other income, but instead must be ring-fenced and carried forward to apply to residential rental income in future income tax years. Depending upon the number of properties you own, you can choose to apply the ring-fencing on an individual or portfolio basis.
Property ‘change of use’ rule
If the sale of your property is subject to the bright-line test, and you don’t use a property as your main home for 12 months or more, you will be required to pay income tax on a proportion of the profit made through the property increasing in value.
Working from home credits
As the incidence of working from home has continued, the IRD has extended the tax exemption on the work from home allowance of up to $20 per week until March 2023. Employees can receive up to $20 per week, tax-free, to cover the additional costs of working from home such as printing, internet usage and power. Any payments above this, require evidence of expenses.
You have worked hard to acquire assets – learn how we can help you be sure they are adequately protected.
How we step beyond accountancy to be a strategic partner who helps you grow and manage your business.