RESOURCES
February 28, 2021
Reintroduction of the 39% top personal tax rate
From 1 April 2021, individuals earning over $180,000pa will be paying 39% tax on income in excess of $180,000.
It is good practice to review your business and investment structure regularly to ensure that it is still fit-for-purpose. Changes in legislation are often a prompt to review your current structure and reflect on any changes in circumstances that may deem some future proofing is required.
At the very least, closely-held companies should be considering the level and timing of their year-end dividend to ensure it is completed before 31 March 2021, bearing in mind available imputation credits and the cashflow impact of the RWT.
Before you say goodbye to the 2022 financial year, make sure you work through a year-end process to maximise your tax deductions and minimise your tax bill. Here are the must-do items.
With house prices soaring and lending criteria being impacted by the Credit Contracts and Consumer Finance Act 2003, it is increasingly common for parents to find ways to help their adult children.
In this newsletter we look at the reinstatement of depreciation on commercial and industrial buildings, the new purchase price allocation rules, various employment changes and the new trust disclosure rules.