New Zealand's minimum wage will rise to $18.90 an hour from April 1, the Government has confirmed. The starting-out and training minimum wage rates will increase from $14.16 to $15.12 per hour, or at 80 per cent of the adult minimum wage. "The new $18.90 rate will mean an extra $48 per week before tax [...]
The Trusts Act 2019 was passed on 30 July 2019 and replaces the Trustee Act 1956. Changes imposed by the new Trusts Act 2019: - Trust beneficiaries need to be informed they're a beneficiary, provided information about the Trust and they have the right to request further information. - At least one of the trustees must [...]
We are pleased to welcome Brooke Underwood to the Client Services Team at Quantum. Brooke is interested in marketing and customer service and is already busy looking into brand development and software certifications. She is excited to be able to assist you with your business needs... If you pop in say 'Hello!'
Well that's another year done! Welcome to 2020! A year of opportunity to expand as an individual and as a business into greatness worthy of such a momentous year. I’d like to thank you personally for the support you have given Quantum over the years, it has been our delight working with you and your [...]
The Government announced the minimum wage will increase to $17.70 an hour on 1 April 2019 – an increase of $1.20 per hour. The starting-out and training minimum wage rates will increase from $13.20 to $14.16 per hour – remaining at 80 per cent of the adult minimum wage. The Government also set indicative rates [...]
From 1 April 2019 employers must: - File employment information every payday instead of an Employer monthly schedule (IR348) - Provide new and departing employees' address information, as well as their date of birth - if they have provided it to you, and - File electronically (from payday compatible software or through myIR) if your [...]
From April 2018, small businesses (turnover < $5M) , sole traders and contractors can choose a new pay-as-you-earn option, rather than paying provisional tax in installments several times a year. Inland Revenue is introducing the Accounting Income Method (AIM) so your business can pay tax as you earn profit. Some accounting software such as MYOB, [...]
No one likes to pay more tax than they need to and we are no exception. Make sure you ask your accountant specifically whether you are using the right structure for your business to minimize tax and are taking advantage of any legitimate options to reduce the tax you pay on your profits. Check out [...]
A law change last year means food safety rules are tailored to individual businesses, rather than taking a one-size-fits-all approach. […]
Anyone earning income will have tax deducted, through the PAYE (Pay As You Earn) system. If you don’t have a tax number, known here as an IRD number, tax will be deducted at the highest rate. So it’s a good idea to apply for an IRD number as soon as you arrive here. That way, [...]
