Tax Audit Insurance
As mentioned in our last update, we have identified a service provider in the market who is ready to provide insurance cover for any extra work required to address IRD tax audits. We will be releasing letters in the next month or so to promote this product to you. Please contact us if you have any queries at all regarding this.
Cost Reduction Plan
I’m intrigued by recent ads on a prominent Auckland radio station. The ads promote a service to assess business costs and come with a plan for cost reductions saving your business big $$s! I love the concept, and wanted to share with you our own thoughts for addressing business costs in a healthy way. Read here for more… Cost Reductions Plan
IRD Compliance Focus Conference 2012
We recently attended the IRD’s compliance conference, and among other things we were surprised to hear the statistics of outstanding returns:
- 1.2315 million returns were outstanding at 30 June 2012
- Only 60.4% returns were filed on time
- 42.8% of outstanding returns are over two years old
- 361,373 taxpayers have overdue returns
At EPPL, we endeavour to achieve the highest measure of return filing – in April 2012 we were awarded a 100% score for our 2011 income tax returns. We take the same approach to all our tax returns including GST and PAYE. If you have outstanding tax returns or you find you are often late, talk to us about helping you manage your tax compliance for you.
GST and Provisional Tax Payments
The 31st August GST return and payment is due next week (28th September). Please contact us if you have any queries on this.
Important Tax Dates
We have updated the important tax dates on our blog site. Click here if you need to check what dates are coming up.