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Fringe benefit tax and work-related vehicles

Fringe benefit tax (FBT) doesn't apply on days where a motor vehicle qualifies to be a work-related vehicle. To qualify, all of the following conditions must be met: the principal design of the vehicle isn't for carrying passengers the exterior of the vehicle permanently and prominently displays business signage you notify employees in writing that [...]

By |October 14th, 2016|Uncategorized|0 Comments

Salary exchange for private use of company vehicle

If you pay your employee a lower salary in exchange for them using a company vehicle for their private use, this will affect their Working for Families Tax Credits entitlements and student loan obligations as the salary reduction is treated as part of their income. You should make sure your employees are aware of this [...]

By |October 14th, 2016|Uncategorized|0 Comments

Entertainment expenses – gifts of food and drink

The entertainment expense rules limit tax deductions for certain types of expenses to 50% of the cost. One type of expense covered is the expense of providing food and drink off business premises. This means that spending on things like chocolates or a bottle of wine to give as gifts to customers, clients or suppliers [...]

By |October 14th, 2016|Uncategorized|0 Comments

What employers need to know about KiwiSaver 

You play an important role in helping your employees save for their retirement. To help you get it right for you and your employees, we've created a summary of what you need to do. Make KiwiSaver available to all eligible employees You must provide KiwiSaver information to all new employees who are eligible to join. [...]

By |October 14th, 2016|Uncategorized|0 Comments

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