In March 2017 IRD released a change to the way that expenses can be apportioned and claimed for farming businesses. The new rules take place for the 2018 income tax year. Although these changes are specifically targeted at farming, all business owners need to be aware that IRD are starting to look closer at business/private apportionment's.
Employers who open for business on Easter Sunday in 2017 will need to check with their local council on their trading policies. Employees have the right to refuse to work on Easter Sunday without providing a reason. Will this affect your business?
Do you have employees that use the work vehicle privately? Do you have questions about the company vehicle and whether FBT applies to you? If you’re unsure then you should get yourself schooled up, because IRD have their eye squarely on the issue.