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.
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 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.
All professional fees, up to a prescribed limit (with no excess) are covered when you engage us in audit activity matters. This includes:
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.
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Inland Revenue has released an exposure draft on not-for-profit (NFP) transactions – including a proposal that threatens the existence of some small clubs and societies across New Zealand…
With 1 April fast approaching, there are several tax rate changes taking effect that you should be aware of.
Are you a US citizen who recently migrated to New Zealand or are thinking of doing so?
With 31 March approaching, it is the ideal time to consider tax issues and also planning opportunities where available. Key matters are outlined below.
The Government and Inland Revenue have made a roaring start in 2025, having been busy with myriad tax policy announcements and documents towards the end of last year. Let’s touch on these in brief…
Many New Zealanders breathed a collective sigh of relief when the bright-line tax on residential property sales was reinstated to two years in July last year.
New Zealand’s foreign investment fund (FIF) rules have created much angst for Kiwis over the decades of their existence. These rules apply primarily to tax New Zealand tax residents who directly own shares, costing more than $50,000, in foreign companies (excluding Australian listed shares).
Inland Revenue has released draft guidance on share investments and it’s a helpful reminder that capital gains are sometimes taxed in New Zealand.
Are you GST registered for an activity that directly or indirectly involves your bach, lifestyle block, home or other appreciating asset?
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.
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.
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?
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