The IRD mileage allowance used by employers to compensate employees for using their private car on company business has increased from 70 cents per kilometre to 74 cents per kilometre for the 2011 tax year.
The entitlement to a redundancy tax credit was due to expire on March 31, 2011 but it has been extended to September 30. 2011. If an employee is made redundant they are entitled to receive the redundancy tax credit of 6% for the first $60,000. ( i.e a maximum of $3,600.) To claim the rebate […]
After the September and March earthquakes some companies paid their employees an ex gratia payment to help them over this unsettling period. Originally, the IRD deemed the payments were taxable but tax changes have been introduced to respectively fix this. This applies to any payments made within 8 weeks of either earthquakes ( some conditions do apply) […]