Small Business Costs
Hot off the IRD Press. On 1 April 2015 changes to the tax treatment of employee allowances took effect. Allowances are payments made to an employee in addition to their salary or wage and can include payments for accommodation, food or clothing. The changes clarify the tax treatment of employer-provided accommodation, accommodation payments and other allowances or payments made by employers to cover employee expenditure.
It's worth checking out the IRD website every so often to see whether any of their recent "news" updates apply to you. That being said, Slaters tends to keep abreast of the developments and if there are any major changes or developments, (such as the recent verification requirements due o the Money Laundering Bill) we will notify our clients and let you know. To read more go to our blog article http://slater.co.nz/blogs/slater-chartered-accountants/28644289-small-business-costs/