The increase of inflation in the New Zealand market is stimulating people to earn extra money. Rideshare is one of the most convenient in terms of flexibility and capital required if you work for one or more platforms like Uber, Uber Eats, Ola, Didi, Zoomy etc. You are considered a sole trader unless you have registered a separate entity for it. Either way, you are required to file your income tax return to IRD. The Income tax is filled annually, and you may need to register for GST if your income or anticipated income is over $60000 for the twelve months.
We are official tax partners of Ola, and we offer a 20% discount to all the clients driving for Ola. Even if you are going for multiple platforms, you are still qualified for the discount as long as Ola is one of them.
Rental Properties
Real estate investments are still considered worth investments in New Zealand. Rental properties give you weekly income as rent and a capital gain. As per the Law, you are supposed to pay the income tax on the profit from Rental Property. With new amendments, like capital gain tax and ring-fencing, preparing these returns have become more complicated.
The government also has changed the per cent of interest you can claim on residential properties. There are also some exceptions, and you may be eligible for one. These exemptions allow claiming entire interest and bringing down your tax bill.
We help you with Rental property tax returns with all the latest changes and file them to the IRD.
Transportation/Trucking
Transport operator is one of the preferred choice businesses to start by most truck drivers. However, to start this business, you require a significant capital investment. Borrowing the funding becomes relatively more straightforward if you have a letter of intent from a trucking company. Based on the letter and various other factors, We will prepare your cash flow forecasting, which will help you to lend money from the banks. Most likely, these incomes are subject to GST, and you must register your business as GST.
We help these businesses from the start to the end with GST returns, payroll, business planning, etc.
Real Estate Agents
Real estate agents have been blessed in the past couple of years with the spike in the market, as we are all aware that great rewards come with significant responsibilities. Most of the tax agents work as contractors, and the income they receive are schedular payments and are usually taxed at a flat rate of 20%, primarily paid by the companies you work for unless you have an exemption from IRD.
You need to GST register if your income exceeds or is expected to increase by $60000. In most cases, the company you work for will require
Retail Business
The retail business is one of the most competitive businesses in New Zealand. Our specialist team understands the company’s complexity, and the level of the stock essential for business day operations requires considerable capital.
