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Tax news stories - Page 2

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Phishing
Think the govt has a big tax refund for you? Think again
Sorry to be the party pooper but it may be time to get your toes in line and cancel that ASOS order you were going to cover with your tax refund.
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Inland Revenue
Inland Revenue: Moving to accounting software will save you time and money
Inland Revenue gets a few raised eyebrows when it promotes accounting software to SMBs, but are definite transformative benefits for tax obligations.
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Cloud
Government closes GST loophole for offshore companies
“Small businesses such as bookshops have convincingly argued they are penalised by a system which is badly out of date.”
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Cloud
Google AU hits $1b in revenue… or is it $3b?
In Google Australia has posted $1.02b in revenue. However, in their report, they note that it could have been $3b if not for creative accounting.
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Blockchain
Cryptocurrency investors reminded of tax obligations
The currency is usually encrypted using Blockchain technology that regulates the generation of new units and verifies fund transfers.
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Digital Transformation
IRD to spend over $1 billion on a system that makes it easier for Kiwis to pay tax
The programme is expected to cost between $1.5 and $1.69 billion, with most of the costs coming from purchasing goods and services.
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Tax
It’s all fun and games in the sharing economy, until the taxes aren’t done
The IRD is cracking down on undeclared income and it’s very easy for them to see what services a company is offering online.
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Accounting Software
Exclusive interview: Will software replace accountants with new AIM reporting rules?
Bellingham Wallace director Mike Atkinson talks about the evolution of the accountant’s role, and why SMBs will still need them.
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Xero
Xero: As NZ's General Election looms, SMBs voice concern about tax rates
With New Zealand’s General Election little more than seven weeks away, small businesses are concerned how the outcome will impact their tax rates.
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DDoS
TPB urges cybersecurity savviness for tax practitioners
Acting Chair Greg Lewis believes that practitioners should consider professional indemnity (PI) insurance cover to deal with first-party losses.
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Payroll
How automated technology can prevent a payroll fraud
Sharp says that the key to avoiding such fraud is to fully automate payments at the employer level.
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Cloud
Apple comes out fighting against European Union's NZ $20 billion tax ruling
Apple is confident it will wipe the pie off its face after it was hit by a €13 billion (NZD $20 billion) in retroactive taxes by the European Union.
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Cloud
Xero improves tax time by bringing eGST into software
After successful trials, Xero is bringing direct electronic GST returns to its software that can be sent straight to the IRD, the company reports.
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Tax
IRD seeks feedback on software development expenditure for income tax
The IRD is seeking consultation and feedback on how software development expenditure should be classed for income tax purposes.
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Xero
Crazy things small business owners tried to write-off on their taxes last year
Mixing personal and business expenses is the most common mistake small business owners make that result in audits.
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Government
Online tax services saving businesses money
Increasing numbers of businesses and individual taxpayers turning to online service to pay tax means big savings, according to the Government.
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Finance, Leasing & Rental
Google NZ's $371,799 tax on $14.9 million revenue
Google faced a higher tax bill last year, but the $371,799 bill is unlikely to faze the company, which made $14.9 million in recorded revenue.
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Inland Revenue
Inland Revenue chooses US company for billion dollar update
The Inland Revenue has partnered with US company Fast Enterprises to update New Zealand's tax and social policy administration system.
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Government
Should the IRD scrap tax estimations?
Inland Revenue is inviting Kiwi business owners to have theirs on provisional tax estimations.
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CFO
Dulux takes $15.2 million hit in IRD tax dispute
DuluxGroup, the ASX-listed paint manufacturer, took a $15.2m provision to settle a tax dispute.
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CFO
PAYE for NZ businesses proposed in biggest tax shake-up since 1957
The government is floating the idea of businesses paying their tax on a pay-as-you-go (PAYE) basis, like individual taxpayers, in the biggest proposed
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Government
IRD's Netguide Award shows government committed to make tax simple
New Zealand’s tax system is up there with the best, but it will need to evolve and adapt to meet the needs of the 21st century and an increasingly glo
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Tax
New Zealand research supports global shift in workforce
Research indicates that contract and part time employment in is growing.
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Tax
Inland Revenue hunting out software companies
Inland Revenue has set its sights on software companies to help Kiwis pay their taxes.