• How do I complete the U.S. W-8BEN-E form?

    | Categories: Tax

    Blog by Fuel Accountants

    If you're a Canadian or Kiwi business and you work with customers in the US it probably won't be long until someone asks you to complete a version of form W-8. In fact, they all should ask you to complete it, but many don't know of it's existence. The form is part of...

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  • New 39% Personal Tax Rate For NZ’s Highest Income Earners

    | Categories: Tax

    Blog by Fuel Accountants

    In December 2020, the NZ Government passed legislation to implement a new personal tax rate of 39% for those with personal incomes above $180,000. This new rate comes into effect from 1 April 2021 (the 2021-2022 income year). What You Should Know As with any changes...

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  • Ever feel you’re the meat in a tax sandwich?

    | Categories: Business , New Zealand , Tax

    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.

    Are you worried about paying your terminal tax bill on 7 April?

    We understand how terminal tax can sometimes put pressure on your business’ cash flow. Even more so, if it’s worked out that you also owe Inland Revenue (IRD) for interest and late payment
    penalties on the unsettled liability. And, if you add into
    the mix that looming provisional tax payment due on 7 May (the final installment for the 2015 year)… well, it can add up to a few sleepless nights, right?

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  • 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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