Minimum Wage Rates Increase

Minimum wage rates increase from 1 April 2022. New hourly rates are: Adult – $21.20 Starting out – $16.96 Training – $16.96 For more information on the different rates, click here: https://www.employment.govt.nz/hours-and-wages/pay/minimum-wage/different-types-of-minimum-wage-rates/

Interest Rate Changes

Inland Revenue increase interest charges effective 10 May 2022: Use of money interest rates for payments due to Inland Revenue rise to 7.28% (currently 7%) Use of money interest rates for monies owed by IR to taxpayers remain at 0% (yes, zero percent) Fringe Benefit tax interest charges increase effective 1 July 2022: The FBT […]

Newsletter – Tax Update 11 April 2022

Yes it’s that time again… Time to start collating business and investment income details, ready for the next round of end of year accounts. To support you with the virtual ways many of us work in, we have again made our client questionnaires available on our website; here is the link: https://www.millerjohnson.co.nz/free-resources/client-questionnaires/ For paper copies, […]

Newsletter – Update On COVID Support For Business

Update on New COVID Support Payment (CSP) available from today: Last week we sent you details of the new COVID Support Payment.  It was apparent that many if not most Auckland businesses would not be eligible to make a claim under this scheme, as the benchmark period was 7 days within the 6 weeks from 5 […]

Newsletter – 22 February 2022

New COVID Support Payment is here: A new COVID Support Payment is here.  It will be a sum of $4000 per business plus $400 per full-time employee.  This amount will be capped at 50 full-time employees or $24,000. Applications for the first payment open on 28th February 2022, with payments starting on 1st March 2022. It […]

Newsletter – 01 February 2022

Already February 1st today, and 2022 is well underway.  We have been fortunate with the summer holiday weather, and we hope you have had a chance to make the most of the summer. Looking forward to this year, we consider it time for an update on our communications. Current COVID Community Setting: Under the traffic […]

Newsletter – 30 November 2021

The last hurrah: Yesterday the government announced the wrap-up of financial support for business as we move out of Alert Level 3 and in to the new traffic light system. What you need to know is: The final round of wages subsidies and resurgence support payments which opened Friday last week, will still be available […]

Newsletter 23 November 2021

New Rental Property Rules: To recap – Deductions for expenses incurred on residential rental properties are limited to the extent of the income from that property.  Excess deductions will be able to be offset against other sources of income, and these “quarantined expenses” are carried forward and are able to be claimed against future profits from the […]

End of Year – March 2021

April Fools Day and the start of the new financial year – coincidence? Our questionnaires for the tax year ended 31 March 2021 are now available on our website in both pdf and Word format.  When you are ready, please access the forms you need from the website, to prepare and send in to us. Here […]

Making IRD payments at Westpac

IRD have advised that from 1 October 2020, your tax payments will only be accepted at Westpac Bank if you have a barcode.  This is to ensure that the payment goes to the right place.  This applies if you are making a payment at the branch or using one of their Smart ATM’s. The barcode […]

COVID-19 Level 2: Returning to the Office!

We are pleased to report that our lockdown plans were a success and we have been very busy!  It’s time to get back to our office now and we will be there from Monday 18th May. Our first priority is to make sure that our staff and visitors are safe. Some of our staff will continue […]

COVID-19: Money In Your Pocket And A Few Reminders

Small Business Cashflow Scheme (SBCS)  Applications open today 12 May. If your business was eligible for the Wages Subsidy, then it is also eligible for this loan. We are not permitted to apply for this on your behalf, but you must apply through MyIR. We have set out some details below, and include the link […]

Miller Johnson – April 2020 Newsletter

Good morning, We have now reached the end of the 19/20 financial year!  In these rather surreal times, we hope that you are keeping safe. The team are managing well – we are almost fully operational and ironing out the glitches and look forward to working with you in this new financial year. Link to […]

Miller Johnson – March 2020 Newsletter

Good morning, It’s March already – the last month of the financial year! This month’s newsletter holds some practical information about COVID-19, the new coronavirus, as it starts to impact life in NZ. We have also included some end of year tips and thoughts.  If you haven’t completed your affairs for the 2019 year, or […]

Miller Johnson – December 2019 Newsletter

Christmas Closure: Our office will be closed from 1pm on Friday 20th December and will re-open on Monday 6th January 2020. We wish you a Merry Christmas and a happy New Year! Tax Letters: We will be sending out Tax letters shortly.  These are for clients who have provisional tax payments due on 15th January […]

End of year tax planning

A comprehensive list of pre-end of year actions to consider

Coronavirus and what it means for employers

Coronavirus status in New Zealand

Employment Legislation Changes – 6 May 2019

Employers are required by law to have written employment agreements in place for all employees.  It might be a good time to review your existing employment agreements. From 6 May 2019, failure to provide a written employment agreement will be an offence. The infringement fee for a breach of this nature is $1,000. 90 day […]

Employment Legislation Changes – 1 April 2019

As of 1 April 2019: The minimum wage rate for adults has increased from $16.50 to $17.70 gross per hour. Employees who have completed 6 months continuous service with their current employer are entitled to 10 days of paid domestic violence leave per year. Please be aware that this is each year, so an onerous […]

Capital Gains Tax (CGT)

The NZ government responded yesterday to the Tax Working Group report on the NZ tax system. While repudiation (for now) of the proposed Capital Gains Tax (CGT) grabbed the headlines, the other 90-something clauses also received a response. Not much to look at here, folks. But in case you are interested, have a read: http://taxpolicy.ird.govt.nz/…/2019-04-17-government-respon… However don’t […]

Do you own rental properties?

If you gain income from rentals, be aware you need to comply with new rules. On 1 October 2016 changes to the Residential Tenancies Regulations came into force to reflect new standards on insulation. Standards New Zealand’s ‘Energy efficiency – Installing bulk thermal insulation in residential buildings’ provide extended guidelines for insulation installers and building […]

Heartbleed

Recently, you may have seen or heard information about an internet-wide security vulnerability called ‘Heartbleed’. Heartbleed affects the OpenSSL framework which is used by many websites to privately send data to and from an internet server. We have been assured by Xero, Banklink, MYOB and iFirm that they do not feel they have been affected. However, we encourage all clients to change your passwords immediately as a security measure.
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