09 Oct 2024
Tax talk: The latest guidance on how shares are taxed in New Zealand
Inland Revenue has released draft guidance on share investments and it’s a helpful reminder that capital gains are sometimes taxed in New Zealand.
Audit shield & tax pooling
Audit Shield is an insurance we offer to protect against the cost of a tax audit by Inland Revenue, while tax pooling mitigates interest on tax penalties.
Our services include:
Tax Pooling
Tax Pooling allows our clients to obtain significantly better interest rates on tax payments, eliminate penalties in many cases, and provides access to funding tax payments if cash flow is tight. Our strategic alliance with Tax Traders means greater protection against tax interest and penalties. In particular, it gives greater tax certainly for businesses with unexpected variations in income or seasonal revenue differences. Tax pooling can also be used to satisfy tax due as the result of an audit adjustment, or if there is a voluntary disclosure to correct a tax position.
Audit Shield
Audit Shield is third party optional tax audit insurance which covers professional fees paid if you face an Inland Revenue audit, investigation or review. The cost of being properly represented can be considerable. Even a simple Inland Revenue enquiry can require hours of work. The Audit Shield Master Policy provides a fixed, cost effective solution to mitigate these unbudgeted costs.
What is covered?
All professional fees, up to a prescribed limit (with no excess) are covered when you engage us in audit activity matters. This includes:
- Retrospective cover, all previously lodged returns are included.
- Payment for your participation in tax deductible if you are in business or self-employed.
Is it right for you?
All Baker Tilly clients are invited to participate in our Audit Shield Master Policy. Different levels of cover are available for salary and wage earners and businesses with turnover under $100 million.
Choose your location for better results
Make an Enquiry
Find an Audit shield & tax pooling specialist
Related services
News
19 Sep 2024
Remove your assets from the GST net before new rules are applied
Are you GST registered for an activity that directly or indirectly involves your bach, lifestyle block, home or other appreciating asset?
17 Jul 2024
Tax Talk | How New Zealand’s tax changes and rates will affect you
With the government’s tax cuts less than a month away from coming into force, we briefly outline what you can expect and any actions that might be necessary.
30 May 2024
Modest tax cuts for most Kiwis, but 2024 Budget lacks imagination
The sixth National government’s first budget was released earlier today, and while the faces might be new, there was little in the way of bold new initiatives.
16 May 2024
Commercial buildings: How tax depreciation removal affects you
Do you own commercial or industrial buildings and report under IFRS or PBE standards? Have you considered how the recent removal of tax depreciation deductions on these buildings will affect you?
14 May 2024
Tax freedom comes early – but it’s a likely sign of rough weather ahead
A lower corporate tax take, wage inflation and plummeting spending indicate a difficult 2024.
01 May 2024
Sustainable Commuter Scheme benefits both employers & employees
It all sounds too good to be true but following changes to fringe benefit tax (FBT) rules last year our Auckland Tax and Human Resources teams have combined their expertise to establish a leading-edge Sustainable Commuter Scheme that benefits employers and their employees.
21 Mar 2024
What is provisional tax? It’s a tax that, strangely, makes our lives easier!
The word “tax” typically isn’t music to anyone’s ears, but there is a tax that makes our lives easier. We’re talking about provisional tax, which lets us spread our income tax payments across the financial year, rather than make one crippling payment at the end.
20 Mar 2024
Bright-line tax and rental interest deductibility – what you need to know
Late last week, the government announced changes to the tax Bill now working its way through Parliament. This bill is bringing in the new trust tax rate of 39% with effect from 1 April 2024.
07 Mar 2024
Tax Talk: App tax to stay – here’s how the new regulations will apply
With National having promised to repeal the platform economy GST rules (the so-called “app tax”), it came as a surprise to many when late last year, the incoming coalition government indicated they would not repeal the “app tax”.
14 Dec 2023
Ask an expert: What are employers’ obligations around directors’ fees?
Ask an expert: I have recently taken on an independent director who is not also an employee. What do I need to be aware of?
31 Aug 2023
Pre-Election Survey paints a broad picture of business sentiment
Over the past month, we've been carrying out our 2023 Pre-Election Survey, with 741 clients sharing their thoughts on everything from government performance to tax settings. There is also some crystal-ball gazing on export prices and housing market expectations.