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Tax Guide for Content Creators in New Zealand

Navigating Your Tax Responsibilities with Cameron Rolls - Chartered AccountantsContent creation is an exciting and growing industry, with creators earning income from platforms like YouTube, TikTok, Instagram, and others. But as this industry grows, so does the IRD’s focus on ensuring creators meet their tax obligations. Here’s a clear and concise guide to help you understand your responsibilities.Am I Running a Business or Pursuing a Hobby?The distinction between a business and a hobby is c...

Virtual CFO and Business Mentoring

“Do you ever wish your accountant was more than just a number-cruncher? How about having someone who mentors you and offers virtual CFO support, all while truly understanding your business? Let’s have a chat about how a new accountant can provide the personalised guidance and strategic insights you’ve been missing. Sometimes a fresh perspective is all it takes to take your business to the next level.”...

Numbers help with answers....

Do we need more finance? Do we need more or fewer customers?Are we pricing our services correctly? Is now a good time to sell? When will we be able to retire and hand the business over to our kids? What are our goals and how will we achieve them? What services or products in the business are not performing? How can we achieve that competitive edge? What’s our tax plan?Have we identified our strengths and weaknesses?Do we have the correct business structure in...

Bright-line property changes

What are they and who do they affect?Let's start with what is the Bright-line property rule.The bright-line property rule in New Zealand is a tax law that requires you to pay income tax on any profits made from selling a residential property within a certain timeframe after purchasing it if it is not your family home.Effective from 1st July 2024 the bright-line property rules change. Bright-line testing will only apply to properties sold on or after 1st July 2024 if the property is sold within t...