WK Strawbridge Blog: Tax
News, practical advice and new business law in language you understand.
Stay informed with the latest news including practical tips, technology, tax law, and what our staff and clients are up to. Get the latest updates from our team of well-informed Business Advisors and Accountants
IRD audit and enforcement activity to increase
For many years now, the New Zealand Inland Revenue has not been overly active, or at least not visible, in investigations or enforcement. There have been various reasons for this. The main reason was that the IRD was undergoing a…
Read blog post
New Zealand Budget 2024 – a step in the right direction?
We were highly critical of the additional spending in Budget 2023 in a time of high inflation and were pessimistic of Treasury’s 2023 forecast that NZ would not enter a recession. Treasury were, of course, wrong and NZ is…
Read blog post
Family Boost – tax credit for childcare costs
Last month, fulfilling an election promise, the Government announced a new credit called FamilyBoost for families paying for early childhood education (ECE). FamilyBoost replaces the proposed extension to the 20 free ECE hours for under two-year olds announced by the…
Read blog post
Drought in the Nelson, Tasman & Marlborough Districts
On 14 March 2024, Minister for Agriculture, Todd McClay, declared a medium-scale adverse event for drought in the Marlborough, Tasman and Nelson districts. On Monday 18 March 2024, he fronted a hastily arranged meeting of affected farmers and growers along…
Read blog post
Some certainty at last around the latest New Zealand tax changes – March 2024
As we have mentioned in recent articles, there are some relatively significant tax changes taking effect 1 April 2024 even though the draft legislation had not been released. Well finally, the detail behind upcoming changes was released yesterday when…
Read blog post
Update on New Zealand Tax Bill – March 2024
The Finance and Expenditure Select Committee finally reported back on the Taxation (Annual Rates for 2023-24. Multinational Tax, and Remedial Matters) Bill ahead of its final reading in Parliament later this month. This Bill includes some important changes for large…
Read blog post