BSA NEWS
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Inland Revenue is taking a tougher stance on debt
Over the last six to twelve months Inland Revenue (IRD) has been taking a firmer stance when it comes to collecting overdue tax.
Don’t forget the risk from within
Online scammers and phishing attacks have become extremely sophisticated lately. Hence, it is understandable that we are constantly warned to be vigilant and on the lookout for the next attack.
Investment boost
On 22 May 2025, as part of the 2025 Budget, the Government introduced a new tax incentive called the ‘Investment Boost’, aimed at encouraging capital investment. It allows an immediate upfront deduction for 20% of the cost of an eligible asset.
Navigating insurance proceeds and tax
When the unexpected happens — a fire, flood, or major equipment failure — insurance proceeds can provide some welcome relief. However, from a tax perspective, how that payment is treated isn’t always as simple as it first appears.
GENAI - A LEAP FORWARD
Artificial intelligence (AI) is the new buzzword at the moment, with business leaders touting its importance and the significant impact it will have on the way we conduct business.
AUTOMATION AND ACCOUNTING
All too often we get into a routine without stepping back and considering why we are doing things. The same goes with our accounting systems and processes.
QUESTIONABLE SPENDING?
Rates are rising across the country, with a recent economist’s report showing an average expected rise of 15%. This is the largest rise the country has seen since 2003, which begs the question, where is all the money going?
CHANGES TO GST FOR THE PLATFORM ECONOMY
In March 2023, legislation in relation to the platform economy was passed, affecting the GST treatment of services made through an electronic marketplace from 1 April 2024.
CHANGES TO BRIGHT-LINE RULES
Along with changes to the interest deductibility rules, legislation has been passed which repeals the current bright-line tests, replacing them with a new (or old) 2-year test.
GOVERNMENT REVERSES INTEREST DEDUCTIBILITY LIMITATIONS
With the new Government now firmly settled in, legislation has been passed which reverses the interest deductibility limitation rules that were introduced by the previous government in 2021.