• Party party party

    | Categories: Business , Christmas , employment , New Zealand , Tax

    Blog by Fuel Accountants

    IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you.

    p>Are you planning a Christmas function for special clients and/or suppliers and business contacts? Be aware that this will come under the entertainment regime for purposes of tax deductibility. Any expenditure on food and drink
    that your business provides off your business premises will be 50% deductible. This extends to any incidental expenditure on things like hireage of crockery, glassware or utensils, waiting staff, and music or other entertainment provided for the function you’re planning.

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  • Christmas Presents

    | Categories: Christmas , employment , New Zealand , Staff , Tax , Taxation

    IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you.

    Thinking about giving your staff a well-deserved Christmas Present of Bonus this year? Cash bonuses are always subject to

    PAYE and should be put through your standard payroll process. There is a category called “Extra Emolument” designed to avoid overly penalizing lump sum payments. Other non-cash gifts (gift baskets, flowers, vouchers, etc., are subject to the FBT rules. An FBT-free allowance of $300 per employee per quarter is available.

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  • Evaluating employment changes

    | Categories: Business , employment , New Zealand

    A new report by the Ministry of Business, Innovation and Employment looks at outcomes of key changes to employment law made in 2011 to see if they are working as intended.
    What the changes were meant to do
    The broad aims of the changes were to:

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