07/07/2025
📊 National Accountants Limited is proud to serve the North Shore Auckland community with expert financial services tailored to your needs. Under the professional guidance of John Nobilo, we are dedicated to providing you with reliable accounting solutions to navigate today’s financial landscape. Trust us to handle your accounts with integrity and precision.
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20/03/2018
CLOSE COMPANY MOTOR VEHICLES
Recent changes to the Taxation Act 2017 mean that owners of closely held companies (five or less shareholders) now have the option to apportion expenditure on motor vehicles that are provided to shareholder employees between business and personal by using actual records, a percentage based on a logbook or in accordance with the IRD’s mileage rates. This avoids the need to pay FBT on these vehicles.
This election may only be made when the vehicle is first acquired or first used for business purposes from the start of the 2017/2018 tax year or later. This apportionment rule only applies to shareholder employee vehicles, therefore FBT will still apply to motor vehicles which are used by employees who are not shareholders.
20/03/2018
BRIGHT-LINE TEST
The government has announced extending the bright-line test on residential property from two to five years. This change will come into effect once the Bill receives the Royal assent expected to be sometime in March 2018.
Click the link for more details about Bright-Line Test changes http://www.nationalaccountants.co.nz/blog
20/03/2018
FAMILIES PACKAGE BILL INTRODUCED
On 14 December 2017, the Government introduced the Families package (Income Tax and Benefits) Bill which will benefit the low and middle income families, lower the child’ costs and help elder citizens with the Winter Energy Payment. At the same time the (BPS) Budget Policy Statement was released.
Click the link for more information about the Families Package Bill
http://www.nationalaccountants.co.nz/blog
20/03/2018
BED & BREAKFAST
With the rise in popularity of sites like AirBnB more and more people are exploring the possibilities of Bed & Breakfasts to make a bit of extra money. However they can also have serious GST and tax implications.
Click the link to know more about the implications http://www.nationalaccountants.co.nz/blog