WebJul 11, 2024 · For hire purchase arrangements ownership is deemed to have transferred at the time of purchase, and GST is claimable in full for the vehicle at the time of purchase. You should obtain professional tax advice to ensure that the correct GST treatment is applied and the necessary records to support your GST claim(s) are in order. FBT Web(c) The purchase price of the shares must not exceed the market value of the shares, which market value cannot be more than NZ$5,000 in a year. Any difference between the amount spent by the employee purchasing the shares and the market value of the shares must not be more than NZ$2,000 in a year. (d) If there is a purchase price for the
New Zealand - Individual - Other taxes - PwC
WebChapter 6 – Business conferences and staff training. 6.1 GST is designed to be a broad-based low rate tax on consumption of goods and services in New Zealand. When GST has been incurred by businesses making taxable supplies, then the business should be able to recover the GST paid on their business expenses, in a cost-effective way. This ... WebFBT is a tax on benefits you provide to your employees. It applies to things like: work vehicles available for personal use. subsidies on gym memberships or insurance. … examples of cyclical stocks
New Zealand - Individual - Other taxes - PwC
WebNov 20, 2024 · If you or one of your employees buys a meal while travelling on business, the cost is 100% deductible. But you can only deduct 50% of the cost of food and drink if either: The trip is mainly for the purpose of enjoying entertainment, eg a team bonding trip. The meal or function involves an existing or potential business contact as a guest. WebEmployee allowances. As an employer, you can choose to provide allowances on top of your employees’ usual pay. Allowances are extra payments for things like accommodation, meals and clothing, and are … WebEven where this results in a reduced FBT liability of nil, employers are still required to file a nil FBT return as fringe benefits have been provided. 9. Employers applying the maximum FBT rate across the board Even if you have chosen to pay FBT at the standard rate of 49.25% per quarter rather than the multi-rate of 43%, all is not lost examples of cycads