IBBZ Accounting
Chartered Accountants & Tax Specialist
Useful tips for Small Business
General update by IBBZ Accounting on latest tax news, business growth and technology tips.
Ravikesh Singh
Ravikesh Singh B.Com CA
Membership and qualification:
- Chartered Accoutant (CA), New Zealand Institute of Chartered Accountants (NZICA)
- Bachelor of Commerce, University of South Pacific, Fiji Islands
Ravi is a qualified chartered accountant registered with Chartered Accountants Australia & New Zealand. He graduated from the University of the South Pacific in 2009. Prior to joining IBBZ Accounting in 2015, he worked as an accountant covering a range of industries including tourism, hospitability, constructions and real estate.
Ravi’s main role is to ensure right advice is provided to clients in a timely manner. He is experienced in dealing with a range of business and taxation problems faced by small businesses in New Zealand. Whether you are a small or medium business or a property investor, he can provide correct guidance to you.
Outside of work, Ravi is a dedicated father to his 1.5-year-old son and spends most of his time with him.
Ravi can be contacted on: ravi@ibbz.co.nz or 09 272 8050
in Tax updates
Proposed Solutions to RWT for Small Businesses
RWT on dividends between companies
With amendments being made to sections RE 2(5), this now limits the definition of “resident passive income”. This section excludes fully imputed dividends paid to a corporate shareholder if the paying company chooses to exclude the dividend from the definition.
This will allow a company to opt out of withholding RWT on a fully imputed dividend paid to another company.
The above amendments were needed because of company tax rate being lowered from 33% to 28%. Dividends were effectively overtaxed by the amount of RWT withheld.
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