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Interest Limitation Rules

The current coalition government has instituted several changes to the interest limitation rules on residential rental properties that will increase a landlord’s ability to deduct interest expenses from their taxable income. Below, we give you a brief background on the rules’ origins, we then discuss key aspects of the rules’ changes by the current government, and we conclude by talking to the application of the rules for the 2023/24 income year.Interest Limitation Rules (Before the Change...

Kevin's Tee Time: A Farewell to the Office and a Hello to More Golf

In the bustling world of tax filing and deadlines, there comes a moment when one of our own decides to trade in their calculator for a spot on the green.  That moment has arrived as we bid farewell to Kevin Prewett as he embarks on a new chapter of his life filled with more golf (if that’s possible 😉 ) and well-deserved relaxation.  Retirement is a milestone that deserves celebration and we honor Kevin in the invaluable role he’s played in shaping our practice over many years.&n...

GST CHANGES 1 April 2024

Big news on the horizon! Starting 1st April 2024, there are some changes coming to the Goods and Services Tax (GST) scene that you might want to know about. One of the main changes is that popular online platforms like Airbnb, Uber or BookaBach will now be collecting GST on all the services they offer. That means whether you're catching a ride, ordering food, or booking accommodation, GST will be part of the deal, no matter if you're registered for GST or not.And it's not just the base cost of t...

END-OF-YEAR TAX TIPS

As the financial year draws to a close, it's essential to plan and implement decisions that optimize your Year-End finances.  Please click the download below, to read our tips on how you can effectively make those decisions by 31 March....

2024 New Financial Year

We are about to get under way with starting the 2024 Annual Accounts for the new Financial Year - 1 April 2023 to 31 March 2024.We will be emailing our clients soon with details of the month we intend to complete your annual work and send our engagement letter for e-signing. In the meantime, please find a link below to download our annual questionnaire/checklist that we would appreciate you completing when sending us your records. If you have any questions, please contact us on 09 636 3332!...

2024 Rental Property Checklist

Please find above, a link to download our 2024 Rental Property Checklist....

2023 Rental Property Checklist

Please find above, a link to download our 2023 Rental Property Checklist.  ...

2023 ANNUAL ACCOUNTS

We are about to get under way with starting the 2023 annual financials and tax returns.  We will be emailing out our engagement letter and the months we intend to complete your annual work very soon.  In the meantime, please find a link below to download our annual questionnaire/checklist that we would appreciate you completing when sending us your records.If you have any questions, please contact us on 09 636 3332!...

EPPL Terms and Conditions of Engagement

Please find a link below to our most recent Client Terms and Conditions of Engagement....

Rental Property Changes - March 22

If you have a residential rental property or are considering buying one, please see the attachment above with important communication from the IRD in regards to interest deductibility.   If you have any questions, please do not hesitate to contact us on 09-636-3332....

Trust Update FEB 2022

Just as change is constant in most parts of our lives so it is with tax law. On top of many of the publicised changes to tax rates, bright-line property tests and interest deductibility the government has also moved legislation through to enable Inland Revenue to collect significantly more information on New Zealand trusts. Attached below is the publicity promulgated by IRD which gives an overview of the additional information they will be collecting from the 2022 tax year onwards. For many of y...

Omicron Government Support

The IRD have recently sent out an informative newsletter on helping your business during the COVID-19 Omicron outbreak.  You can download the article below.Please let us know if there is anything you would like to discuss:-  09-636-3332....

MAY 2021 BUSINESS NEWS UPDATE

The team at business.govt.nz have recently sent out their May newsletter.  You’ll find the following interesting articles:-Big businesses commit to help small businesses get digital:- Big business and organisations have banded together to help small businesses across the country boost their digital skills, with free, subsidised or discounted training, support, products, services and research.Free in-person digital workshops – Find free, in-person workshops in your region, with...

NEW TRUST LAW

The new trust law takes effect from the 31st January 2021. We just wanted to remind you that with this new law the supplying of financial accounts, including a Profit & Loss and full Balance Sheet, will be an expectation for all trusts from 2021 onwards.If you have any queries regarding this, please let us know 09 636 3332...

NEW CHANGES ON INTEREST DEDUCTIONS

The Government has recently announced and intends to introduce to the tax treatment of interest on loans for residential property.Please have a look at the IRD fact sheet on these proposed changes below.If you have any questions, do not hesitate to contact us on 09 636 3332....

DECEMBER 2020 BUSINESS NEWS UPDATE

The team at business.govt.nz have recently sent out their December newsletter.  You’ll find the following relevant articles:-Family time vs business time over summer:- The summer holidays offer a good opportunity to get together and discuss plans for the future of your family business.  Here are some rules to follow to make sure it’s only the barbeque that gets heated.COVID-19: What you need to know over summer – From low-interest loans to contact tracing, a summery of ...

CHRISTMAS HOLIDAY BREAK

As we approach the Christmas break, we would like to give you advance notice that our office will be closed for holidays from the 18th December and will re-open on Monday the 11th January 2021.Please set a reminder for the next GST and provisional tax date of 15th January 2021We hope you have a very Merry Christmas and a Happy New Year! From everyone at the EPPL TEAM!...

NOVEMBER 2020 BUSINESS NEWS UPDATE

The following important articles are in this month’s issue of the business insider newsletter:- Small business loan scheme extended to Dec 2023:- Changes to the government’s small business cashflow (loan) scheme makes it easier for small businesses to access finance.  Apply through IRD. Holidays and leave: Tips for employers – From annual leave to public holidays like Christmas, your workers must get at least the legal minimum. Check out the summary of rules for all typ...

OCTOBER 2020 BUSINESS NEWS UPDATE

The following key articles are in this month’s issue of the business insider newsletter:-Advice for sole traders struggling with debt:- Debt can be a normal part of being in business.  But it’s important to know how much debt is too much for you.  Find out more about how to get back on track, plus details of government financial support for self-employed people. Selling online: How to protect your website – With more customers messaging, buying or booking online, i...

SEPTEMBER 2020 BUSINESS NEWS UPDATE

The following key articles are in this month’s issue of the business insider newsletter:-COVID-19: Auckland remains at Alert Level 2 and the rest of New Zealand is at Alert Level 1.  Restrictions are in place for businesses to keep workers and customers safe.  Click here to learn more.Talking with staff about uncertain times: Change and uncertainty can take their toll on a business and its people.  You and your workers may feel anxious or stressed about the f...

AUGUST 2020 BUSINESS NEWS UPDATE

The following important articles are in this month’s issue of the business insider newsletter:-COVID-19: Resurgence Wage Subsidy.  You can apply for the Wage Subsidy Extension, or the new Resurgence Wage Subsidy, if your business or you, as a contractor or sole trader, has experience a further loss of revenue due to the COVID-19.ACC: Has COVID-19 hit your payroll?  If you are an employer and your payroll has changed, or might change, this will affect your ACC provisional levies....

IRD – LATEST SCAM ALERTS

We are noticing an increase in the number and variety of scam emails hitting our client network lately.  Some of them look VERY genuine and are difficult to distinguish from a real and sincere sender.We want to highlight that if you are receiving any emails asking for bank account or password details – definitely DO NOT OPEN.  If you are unsure if the email you’ve received is genuine, please do not hesitate to send it to us to check over – info@eppl.co.nzOne particular scam ...

2020 ANNUAL FINANCIALS

Happy new financial year!We are about to get under way with starting the 2020 annual financials and tax returns.  We will be emailing out our engagement letter and the months we intend to complete your annual work very soon.  In the meantime, please find a link below to our annual questionnaire/checklist that we are supposed to received signed from you each year.If you have any questions, please contact us on 09 636 3332!...

MINIMUM WAGE INCREASE – 1ST APRIL 2020

Increase in Minimum Wage is effective TODAY!!!Minimum wage rates increase from $17.70 to $18.90 per hour.Please review your wage system, to make sure you’re compliant.If you have any questions, do not hesitate to contact us on 09 636 3332!...

EDEN PERICH PREWETT – BUSINESS AS “UN-USUAL” UPDATE

The team at Eden Perich Prewett are continuing to work albeit “Business-As-UN-Usual”.This means that we are still actively working behind the scenes, but in an unusual way, given the current lockdown and uncertainty beyond that.This is how the Eden Perich Prewett team is currently working:-All staff are operating from their home offices during work hours.We all have access to our files, emails and office phone lines – we encourage you to call us or email us.IRD still expects...