For small businesses in New Zealand engaging in international trade, understanding how Goods and Services Tax (GST) applies to imports and zero-rated sales is crucial. Whether you’re buying goods from overseas suppliers or selling to customers outside New Zealand, navigating GST correctly ensures compliance and optimizes cash flow.

If you're a small business owner trading through a company, you probably have a shareholder current account – even if you don’t realise it! This is simply the record of money flowing between you and the company. Ideally, this account should stay in the black (positive balance), but sometimes it goes the other way – and that's where problems can start.

Navigating the intricacies of entertainment expenses for tax purposes can be challenging. In New Zealand, the deductibility of such expenses is governed by specific rules that determine whether an expense is 50% or 100% deductible. Understanding these rules is crucial for businesses to ensure compliance and optimise their tax positions.

Closing a business is a significant decision that comes with financial and administrative obligations. Whether you’re winding up a company voluntarily or due to financial difficulties, understanding the costs involved can help you plan effectively. This article covers the tax implications for companies with retained earnings and the process of winding up a business in New Zealand.

Tax pooling is an effective way for New Zealand businesses, especially small businesses and startups, to manage their tax obligations more efficiently. It is particularly useful for those with fluctuating income, seasonal cash flow, or unexpected tax bills. Tax pooling provides flexibility, reduces the risk of penalties and interest, and can significantly ease cash flow pressures. We work with one of the leading tax pooling intermediaries in New Zealand - Tax Traders, offering businesses a smarter approach to handling tax payments.

The title says it all..

Not sure what receipts you need to retain or records you should be keeping to support your income tax or GST returns and legal obligations as a small business owner in NZ? We've broken it down for you in this blog.

Not sure what the fringe benefit reimbursement in your financials stands for, or if the benefits you provide your team need to be taxed? In this blog we cover everything you need to know around FBT - aka Fringe Benefit Tax.