Ask your accounting and tax questions here

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  1. Post
    It'll be subject to FBT, the rate of which will depend on how your employer has chosen to manage FBT: https://www.ird.govt.nz/topics/incom...efit-tax-rates

  2. Post
    It sounds like this is more like an incentive by your employer to get you to go to the gym more?

    It is not FBT because the employer is not paying the gym directly.

    It is not a reimbursing amount because gym expenses are not related to their business so is not deductible to them.

    It really is just them paying you a bit extra so it would go through the wages system and have PAYE deducted.

    This does mean you don't get full reimbursement but it isn't something they had to offer in the first place.
    Last edited by brand; 14th January 2020 at 1:25 pm.

  3. Post
    Thanks, man. That's awesome, what you are doing here.
    Can I ask why you are answering questions on Gameplanet, instead of a finances forum? Something like money.stackexchange.com, you could nail all the new-zealand tagged questions and more! Not complaining, just curious

  4. Post
    Hi everyone, not a question about accounting but have a question about casual contracts.

    My partner has a casual contract but I believe she is actually part time as she has an ongoing expectation of employment. I believe that NZ law would override her contract and consider her as part time employee, I am trying to find a website with information regarding this but not having much luck.

    I have found this:
    https://www.flexitime.co.nz/blog/casual-employees

    but am preferably looking for something on a government website, can anyone point me in the right direction?

  5. Post
    This is a bit better:
    https://www.employment.govt.nz/start...s-of-employee/

    If you work at least 20 hours every week with an irregular roster, is that enough to be considered an "ongoing expectation of work"?

    I believe it is but am not 100% sure.

  6. Post
    roberto_sc wrote:
    Thanks, man. That's awesome, what you are doing here.
    Can I ask why you are answering questions on Gameplanet, instead of a finances forum? Something like money.stackexchange.com, you could nail all the new-zealand tagged questions and more! Not complaining, just curious
    I've been a part of these forums for a long time now. There was some pretty questionable advice from armchair experts on here so this is just something I decided to do to help people out.

    I mean you still shouldn't fully trust what someone on the internet says and I don't have all the facts but you at least get pointed in the right general direction and can verify for yourself.

    I have no real wish to spend all my free time on other forums answering the same questions I get at work plus it is much easier for me to check one thread than multiple separate threads/forums.

  7. Post
    labcat wrote:
    This is a bit better:
    https://www.employment.govt.nz/start...s-of-employee/

    If you work at least 20 hours every week with an irregular roster, is that enough to be considered an "ongoing expectation of work"?

    I believe it is but am not 100% sure.
    I'm not sure what you are trying to gain? Casual employees are still employees. Your partner has the same rights and would be either accruing holiday pay or getting it paid out as she went.

    I guess she could press for guaranteed hours added to her contract for a bit of security?

  8. Post
    It's all about public holiday eligibility. A casual employee is not eligible to be paid for any public holidays whereas a part time employee is. There have been five public holidays in the past few weeks which is a weeks worth of wages if your eligible for them.

  9. Post
    labcat wrote:
    It's all about public holiday eligibility. A casual employee is not eligible to be paid for any public holidays whereas a part time employee is. There have been five public holidays in the past few weeks which is a weeks worth of wages if your eligible for them.
    You would need to have set work days and for the public holiday to fall on one of those work days.

  10. Post
    WTF, IRD has decided they're not taking any phone calls. Is this even legal?

  11. Post
    mintyOnion wrote:
    WTF, IRD has decided they're not taking any phone calls. Is this even legal?
    Their call center is seriously understaffed. They are currently dropping around 40% of all calls according to a recent news article:

    https://www.stuff.co.nz/national/118...disconnections

  12. Post
    brand wrote:
    Their call center is seriously understaffed. They are currently dropping around 40% of all calls according to a recent news article:

    https://www.stuff.co.nz/national/118...disconnections
    That's just honkers. I'll see how email works out, but they're pretty much borderline refusing to communicate.

  13. Post
    I've never seen their estimated call wait time on the ird website for gst queries ever dip below 1 hour.

  14. Post
    Elgaria wrote:
    I've never seen their estimated call wait time on the ird website for gst queries ever dip below 1 hour.
    IRD were providing estimated call wait times, now they just say this:

    Name:  IRD.PNG
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  15. Post
    I've never called the IRD, done everything through secure messaging \_(ツ)_/

  16. Post
    KevinL wrote:
    I've never called the IRD, done everything through secure messaging \_(ツ)_/
    The myIR site also goes down a lot. Like a lot. It is down for me right now.

    The ordinary person may not notice if they only log in once or twice a year in the evenings but when you are using it every day the outages literally make it impossible to do our job.

  17. Post
    Hey brand, how does the "chess timer" work in reality with IRD? If I've emailed them about something, is the ball legally in their court, thus making it their responsibility for any delays?

  18. Post
    mintyOnion wrote:
    Hey brand, how does the "chess timer" work in reality with IRD? If I've emailed them about something, is the ball legally in their court, thus making it their responsibility for any delays?
    It depends on what you are asking. IRD have target times to respond to enquiries but they are not binding on IRD in any way.

    The part of the system that calculates interest and penalties is automated. So you are basically "encouraged" to pay any disputed amount before disputing it because if you lose the dispute the late penalties and interest will stick even if it was IRD dragging things out.

    Otherwise any requests will be back dated to the date of your original correspondence. So you might be fine eventually but that won't stop the rest of the system from rolling in the meantime -most IRD letters are automated and debt collection is a completely separate department.

  19. Post

    PAYE vs contract rates

    If I am earning $130k p.a. on PAYE and an opportunity arises to earn the same but on an hourly basis as a contractor are there any benefits one over the other as a white collar rat race professional?

    Some things to consider:
    -i drive to work (i could claim fuel as expense)
    -very rarely work from home

    anything else that needs to be considered?

    Is anyone able to quantify the benefit in dollar terms (if any) to being an hourly contractor as opposed to PAYE? Thanks for the help.

  20. Post
    You'd want to earn more on the hourly rate. As you don't get the benefits of being a staff member e.g. leave, kiwisaver, health insurance, etc. I personally wouldn't just do it for the tax benefits.

  21. Post
    You can't claim for travel between home and your primary place of work either

    Sent from my Pixel 4 XL using Tapatalk

  22. Post
    Agree with the above comments -you are also responsible for your own ACC, GST and are required to file a tax return.

    It typically isn't worth it unless you will earn at least 20%-30% more to make up for all the things you lose.

  23. Post
    Hi brand,

    would like to ask you some questions. my sister is a NZ tax resident, and now has got a rental property in Australia with a mortgage. so she needs to file income tax return on the rental income in NZ not Australia, right? and she can claim the mortgage interests and all other expenses as well? i know also need to convert the figures into NZ$, which exchange rate to use? at the time when expenses/income occurs? i am a bit confused right now. thank you!

  24. Post
    KateK wrote:
    Hi brand,

    would like to ask you some questions. my sister is a NZ tax resident, and now has got a rental property in Australia with a mortgage. so she needs to file income tax return on the rental income in NZ not Australia, right? and she can claim the mortgage interests and all other expenses as well? i know also need to convert the figures into NZ$, which exchange rate to use? at the time when expenses/income occurs? i am a bit confused right now. thank you!
    If she's resident/physically in Australia then she is still required to report her Australian income to the ATO despite her NZ tax residency. There are agreements that largely prevent double taxation (i.e. you shouldn't have to pay both Australian and NZ tax under most circumstances) but you still have reporting obligations.

  25. Post
    KevinL wrote:
    If she's resident/physically in Australia then she is still required to report her Australian income to the ATO despite her NZ tax residency. There are agreements that largely prevent double taxation (i.e. you shouldn't have to pay both Australian and NZ tax under most circumstances) but you still have reporting obligations.
    thanks Kevin, she lives in NZ and a NZ tax resident, where the tax should be done? thanks