Motor vehicle expenses. What can I claim and how do I go about this?
Entertainment expenses. What type of expenses can I claim, what is considered 100% deductible and what are 50% deductible costs.
Donation Tax Credit Claims - November 2013 Announcement.
The time period for claiming donation tax credits is reducing to four years. This means that a tax credit for a donation must be claimed within four years of the end of the year in which the donation was made. Any claims outside this period will be disallowed. This change applies to tax credit claims made in the 2014-15 and later tax years.
FOR THE FARMERS:
Farming guide This is a handy guide produced by the IRD that covers how to deal with expenses such as dogs, electricity and telephone apportionments, farm cottages, beasts killed for private consumption, newspapers, PAYE on 'free' accommodation provided to employees.
Protective Clothing - what is deductible An easy to read article written to explain why such things as sunglasses and jeans are not deductible to the self-employed farmer, but yet purchased for his employee the same items are....
What is the tax treatment when a sole trader or partners in a partnership take trading stock for their own use or consumption? The taxpayer is required to account for the stock at market value of the trading stock. Taking the trading stock for your own use or consumption means it has not otherwise been sold in the normal course of business. As a result, the taxpayer has not derived assessable business income from disposing of the trading stock. However, the costs incurred in acquiring, growing or manufacturing the trading stock would have been included in the taxpayers deductible business expenses. This applies for the 2015 and subsequent income years (previously the stock was recorded at cost price).