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.

Holidays Act 2003

on in Tax updates
  • Font size: Larger Smaller
  • Hits: 995
  • Print

What you need to know?

The Holiday act 2003 was enacted on 17-12-2003, it covers leave and holiday entitlements of an employee in his/her employment. 

Part 2 of the act covers holiday and leave entitlements


Annual Leave

All employees: part time, full time, fixed term and casual get at least:

  • Section 16-20 states four weeks of paid annual holidays (annual leave) each year for rest and recreation. Some fixed-term and casual employees may get annual holidays on a ‘paid as you earn’ basis.

Public holidays:

  • Section 43-61 states 11 public holidays each year are additional holiday. These are days of national, religious or cultural significance, and employees should be able to take them as leave, where possible. If an employee has to work on a public holiday that work must be paid at no less than time and a half. Per section 56 alternate holiday must be provided should the employee works on public holiday.

Sick leave

Section 65-68 An employee is entitled to five paid days of sick leave per year if:

  • they have six months’ current continuous employment with the same employer, or
  • they have worked for the employer for six months for:
  • an average of 10 hours per week, and
  • at least one hour in every week or 40 hours in every month.

Bereavement leave


Section 69 All employees (permanent, fixed-term, part-time and casual) can use bereavement leave if they have worked for the employer for 6 months for:

  • an average of 10 hours per week, and
  • at least one hour in every week or
  • 40 hours in every month.

Payment for annual holidays is calculated differently from payment for public holidays, bereavement leave and sick leave (and employers must make sure that each is calculated correctly).

A Labour Inspector may enforce the minimum rights in the Holidays Act 2003. Per Section 75 Penalty for non-compliance

(a) if the employer is an individual, to a penalty not exceeding $10,000:

(b) if the employer is a company or other body corporate, to a penalty not exceeding $20,000.

Reference: Holiday Act 2003

Web: Employment.govt.nz


Saurav Wadhwa is a Principal Accountant at IBBZ Accounting Limited

M Bus (TAX) PG Cert (LAW) CA CPA

Membership and Qualification:

- Masters in Professional Business Studies (Taxation) with Distinction from Auckland University of Technology

- Post Graduate Certificate in LAW, Law School at Auckland University of Technology

- Chartered Accountant(CA), New Zealand Institute of Chartered Accountants (NZICA)

- Certified Practicing Accountant(CPA), CPA Australia

- Bachelor of Commerce, Grad. Cert. in Business from Auckland University of Technology

Saurav Wadhwa

Saurav has many years of practical experience in tax & accounting services and is the co-founder of IBBZ Accounting Limited.  He is qualified both in law and accounting. Saurav has worked in various tax & accounting specialist roles for large corporates in New Zealand. He loves to work with Small Businesses.

His key focus is on:

  • Tax advisory for small and family operated businesses on a wide range of taxation issues.

  • Legitimate tax saving structures.

  • Advising on range of new business issues.

  • Ensuring business growth is attained.

  • Effective cash flow planning.

Saurav specialises in Tax Disputes resolution, Tax Relief applications, Tax Debt resolution/management, and representation in Tax Audit. Saurav can represent you in Taxation Review Authority,  in Tax Dispute Court Cases or he can represent you during Tax Audit Investigations.

Blend of skills in Tax laws and accounting, makes him perfect advisor for small businesses and individuals like you. Saurav understands how to safeguard your business from creditors risk, maximise the business growth and pay low taxes. He can be your good strategic and business partner. He is of a friendly nature and easily approachable.

Saurav understands the numbers very well. He is a qualified Chartered Accountant and registered with highest professional accounting bodies of Australia and New Zealand. He can help you to plan for the future to satisfy all your financial needs.

Consumed by a hunger for knowledge, Saurav has never stopped furthering his education or expanding his pool of knowledge. Nothing gives Saurav more satisfaction than assisting his clients to achieve their financial goals. His diligence, passion and accuracy has earned him a reputation as a reliable professional who strives to serve his clients above and beyond the call of his duties.

Saurav was nominated for the Best Accountant of the year and the Young Entrepreneur of the year, and his company IBBZ Accounting won the award of Best Small Business 2014. In 2015 Saurav won the award of Best Accountant of the Year.

In 2017 Saurav was appointed as a committee member to New Zealand Public Practice Board of CPA Australia. 

Saurav is a dedicated family man. Saurav is very fond of outdoor activities and enjoys pretty much all outdoor activities: running, bike, motorbike, snorkel, fishing, skiing etc. Saurav, is also a self-confessed workaholic, spends some of his free time thinking about his client’s affairs and forecasting their financial future.

He can be contacted on saurav@ibbz.co.nz  or 09 272 8050


  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Wednesday, 26 September 2018