cheap lenses australia

Site Archives

Budget 2011 – three perspectives

At 2pm today the Government lifted the press embargo on Budget 2011. As they did last year, Vicki Ammundsen and John Peterson have agreed to share their views on the Budget. We have also asked Stephen Tomlinson to join us. We have recorded the discussions, and you can listen to them here: Read more

KIWISAVER TO KIWIPAYER IN 2011 BUDGET

WHAT ARE THE CHANGES?

– From 1 April 2013 the minimum employee and employer contribution rate will rise from 2% to 3%.

– From 1 April 2012 the tax-free status of employer contributions to KiwiSaver and other complying superannuation funds will end. All employer contributions will be subject to Employer Superannuation Contribution Tax (ESCT) paid at the employee’s marginal tax rate.  This means that while the gross amount of employer contributions is increasing by 50% in 2013, it may not result in a significant amount actually being credited to your Kiwisaver account.  If you are a top marginal rate taxpayer there will be no net increase to the overall level of employer contribution.

Read more

Recent comments

  • Joanne Martin: Hi Would you be able to email me to discuss a small company that is an LTC which I need some advice on...
  • Rizwana Saheed: You are on the right track that there is an exemption when employees work overtime but whether or not...
  • bryan: as a group of employees we get paid meal money if we exceed 11hrs on any day. Employer says he wants to tax...
  • linda: My mother is 94 and has dementia. With govt assisted carers she is still living in a home gifted within the...
  • Sharon: Hi Daniel, Can you please advise how owners of a profit-making LTC pay themselves? The owners used to pay...
  • Another Anne: My Dad is in care on full subsidy. I am EPOA. Are we able to gift some money to my brother in UK so...
  • Twagilayesu Isaya: I agree with the author of this article that Inland Revenue Department need to provide clear...
  • Quinn: Hi. I would like some clarification regarding the valuation of the investments component of the owners basis...
  • QROPS Pensions: Interesting piece of writing, you always write the most useful content & TalkTax is no exception...
  • Davo: Jo, quite likely is that the transition to an LTC was not done in time and the company became a normal company...

Upcoming Events

  • No events.

Poll

In the past 12 months, do you think the amount of IRD investigations being undertaken has?

View Results

Loading ... Loading ...

Authors

    For the moment, we have no authors