Accounting & Tax

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Accounting & Tax

Year-End Tax Planning Tips

As we countdown towards the end of the financial year, here are some some tax planning opportunities to help you optimise deductions.

Interest deductibility on property investments is 60% this year

The interest deductibility rules have been a hot button issue since they were introduced. They will start to be phased out from the 2024-25 tax year as residential property investors breathe a sigh of relief.

Minimum wage increases to $23.15 per hour

The minimum wage is rising as of April 1, 2024 to $23.14. As an employer, you’ll need to keep up to date with the latest minimum pay rates and pay your employees at least the current minimum rate.

How does an accountant save you money?

Want to cut unnecessary costs, optimise the most profitable parts of the business, and increase your overall return on investment? Talk to us about how we can work with you to support your ongoing business profitability.

Giving gifts to clients (think about the tax)

If your Christmas giving includes gifts to clients, remember that some gifts will be fully deductible while others will be only 50% deductible.

Entertainment Expenses - Income Tax and GST

As a general rule, if you provide entertainment for your team or clients, some of your business entertainment expenses are tax deductible.

What will a National-led government mean for your taxes?

What are National’s proposed tax changes? Shifted income tax brackets, restored interest deductibility, a two-year bright line test and FamilyBoost.

Provisional tax - for business owners

The provisional tax system can be difficult to navigate. A simple tax plan will give you a general idea of how much tax will be payable and when, so you can plan for it.



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