Yes, it’s true. Sort of, kind of
anyway! Some of you are now eligible to have a company car without the sting of paying Fringe benefit tax (FBT) on it. Nothing’s quite that simple though especially when it comes to the intricacies of tax legislation and there are, of course, a whole string of eligibility requirements. We’ll cover a few of them below but this type of thing is complex and riddled with fish hooks so it’s well worth having your Chartered Accountant review your situation properly before you do anything rash.
The end of fringe benefit tax on company cars?
April 11th, 2017 | Posted by in Accountant in Auckland | Chartered Accountant Auckland | Chartered Accountants Auckland | Claiming Business expenses | Xero Accountant / Zero Accountants - (Comments Off on The end of fringe benefit tax on company cars?)Fancy Jam and Scones with the IRD?
February 3rd, 2017 | Posted by in Chartered Accountants Auckland - (Comments Off on Fancy Jam and Scones with the IRD?)
We may all grumble about the IRD but you know what? They’re actually pretty good sports at heart. They regularly hand out great big head-starts to who they’re targeting and they’re pretty open about it too. All you need to do is read between those fluffy warm lines to see who “they’re after”. Take this recent release for example. It almost sounds as if you’ll be enjoying Jam and Scones with Nana but it’s really just their way of announcing open season on cafes, restaurants, takeaway stores and hotels so if you’re in the hospitality industry consider yourself warned. Perhaps even sort out those holes in your tax records now (before they turn up, scone-less)!
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