Frequently asked questions - Tax

What are the personal income tax rate changes now and what may they be?

Personal Tax rates are an area of much change recently.  If you are finding it difficult to keep up with the changes, Searells can help.

All you need to do is leave it with us and get on with the rest of your day!

Some of the issues that may be bother you are;  

• What is the low income rebate?
• Is there a new low secondary tax code?
• Is there an independent earner tax credit available for those who earn less than $48,000?

These issues are areas that both employers and PAYE earners need to address . . . but we can help.

Other areas that may keep you awake at night are

• How do the new rates apply to annual tax?

• Has Resident Withholding Tax on investment income changed?

• How can I find out about ACC Premiums and cover?

• What are the rules around Depreciation Allowances?

• What can I claim for charitable donations for this tax year?

• Is there a housekeeper or child care rebate?

• What are the entertainment tax rules?

• Working for Families Tax Credits - am I entitled to receive these?

• Parental Tax Credit - can I apply for this?

• Fringe Benefit Tax - what are the rates, and what benefits do they apply to?

• What are the current gift duty rates?

• PAYE on Salaries & Wages - do I file returns and pay once or twice a month?

• What are the return due dates and extensions of time allowed?

• If I am late paying tax or filing returns, or pay insufficient tax, what penalties might I incur?

• What are the Goods & Services Tax rates and rules?

These are things that may keep you awake at night.

They should be the things you expect your accountant or business adviser to understand and deal with.

That's why we are here!

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