For those of you who have earnt over the threshold of $111,669 from one source of income for the 2012 tax year, you may be due a refund. Any earnings over this amount are not liable for the ACC levy which is part of your PAYE deduction taken each payday. The levy for the 2012 […]
At the end of the tax year we are frequently asked why an employee has a tax bill ( never a refund !!) to pay. Naturally they find this very frustrating and would rather pay more tax each pay period than be landed with a tax bill. Under New Zealand’s current tax system we operate on […]
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) […]
Are you entitled to a tax refund? You can work it out yourself for free by using the calculators provided by the IRD.
Inland Revenue are currently running a campaign to encourage tax payers to find out if they are entitled to a Tax Refund. There are a number of companies that can do this for you but they will charge a fee, whereas the IRD service is anonymous and FREE. To find out more click HERE