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Useful tips for Small Business

General update by IBBZ Accounting on latest tax news, business growth and technology tips.
OCT
31
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IBBZ Accounting Business and Tax Updates October 2023

Business and Tax Updates October 2023: IBBZ Accounting

Summary:

As we approach November the day light savings are in, and summer is about to arrive. Summer: where the days are long, the sun is warm, and the memories are endless. Hoping we all will have the excellent summer months and upcoming break.

We want to provide you with some valuable insights and updates in the world of finance and accounting. 

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SEP
30
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IBBZ Accounting Business and Tax Updates September 2023

Business and Tax Updates September 2023: IBBZ Accounting

Summary:

Next month is election year, by mid-October a newly elected govt will take charge. In this issue we will try to cover the tax policies of different parties for small business owners. We want to express our sincere gratitude for entrusting IBBZ Accounting with your financial needs. It is our privilege to collaborate with you, offering personalized accounting solutions that drive your business forward. Without further ado, let us delve into the highlights of september newsletter.

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JUL
29
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IBBZ Accounting Business and Tax Updates July 2022

Business and Tax Updates July 2022: IBBZ Accounting

 

 

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APR
26
0

Ring Fencing Rental losses: another nail in the coffin of residential rental investment.

Ring Fencing Rental losses: another nail in the coffin of residential rental investment.

Why ring fencing rental losses are being introduced

 

Auckland residential market has been hot topic for several years. It has been going in only one direction upwards. The Government has been trying to make changes in tax policies since 2010. Firstly, they abolished LAQC, and depreciation on building, then introduced bright line test. Currently the bright line test has been extended to 5 years from April 2018 onwards, and Ring fencing of rental losses are being introduced from April 2019.

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NOV
24
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New bright-line test

New bright-line test

From 1 October 2015, the Parliament introduced some changes to the property rules called as Bright-line test. The purpose of the test is to reduce the number of foreign speculators on NZ property and thus maintain positive housing prices of big cities in New Zealand. This rule only applies to residential properties bought on or after 1 October 2015. The idea behind the test is that taxpayer has to pay tax on the gain when you selling your property (with some exceptions). By taxing on the gain, it somewhat discourages speculators for housings as the profit is not as good as before.

 

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