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Taxation

Taxation

Are you looking for a Tax Accountant in Auckland? Need GST advice? We can help.

Murray Sharma & Associates are authorised tax agents. Our objective as a tax adviser is to provide you with the correct tax advice so you can disclose your true tax position to the Inland Revenue. We will help you structure your affairs to minimise your tax liability while complying with the various tax laws. As part of our compliance offerings, you can be confident that we will put plans in place to ensure your returns are correct, and made on time in order to avoid any penalties.    
 
As part of our tax administration services we will ensure that your business structures are appropriate and best suited to your needs. We will make sure that there are plans in place throughout the financial year, so you are aware when tax liabilities are due and ensure payments are made on time.
 
We can help you with all the various taxes including - Income tax, GST, PAYE, FBT, RWT, ACC and tax refunds in NZ.
 
 
 

The tax services we provide as leading Auckland tax accountants include:

 

Income Tax

As part of our service of completing year-end financial statements, we also complete the required tax returns. As part of this service, we will:

  • Ensure the correct tax returns are filed.
  • Ensure your correct tax position is disclosed to the Inland Revenue.
  • Ensure you remain up to date with your provisional tax requirements.
  • Help you claim your tax refund if you are eligible for one.

 

GST: "Goods and Services Tax"

Depending on the size of your business, you may be required to return GST to the Inland Revenue on either a monthly, two-monthly, or six-monthly basis.

GST is generally levied at 15% on the supply of goods and services. It is a complex area of tax law due to the various exceptions and exclusions that may apply.

GST is a value added consumption tax which means that the final cost is imposed on the final consumer. As a business, this may mean that you are able to claim GST back if you are not the final consumer, and also requires you to collect GST on behalf of the Government. Consequently, it is critical that your business is able to correctly and efficiently collect and record the GST information that is required. If your system is unable to do this, the errors may compound.  

Therefore it is crucial to have an adviser who understands all the implications for you and your business. We can help you with:

  • GST return preparation
  • Advice on particular transactions
  • Resolving GST disputes with the Inland Revenue

 

FBT: "Fringe Benefit Tax"

If your business provides fringe benefits to its employee's, you may be required to return FBT on a quarterly or annual basis.

The FBT regime was introduced to ensure that benefits provided by employer's to their employees are taxed, and to ensure that employer's were not able to provide non-taxable benefits as a substitute for salary and wages. A wide number of fringe benefits are caught, so you may need to prepare a FBT return if you offer any of the following benefits to your employees: 

  • Motor Vehicle
  • Employment related loans
  • Free, subsidised or discounted goods
  • Subsidised transport

To ensure your FBT obligations are met, we can take care of this compliance burden for you. 

PAYE

If your business has employees, there are various obligations you must meet. We offer a service where we can process your payroll for you, and ensure your obligations such as remitting the PAYE and the correct KiwiSaver deductions from your employees' salary and wages are remitted.  

ACC

Whether you have employees, are self-employed, or a contractor, you will be required to deduct ACC Earners Levies from your employees wages, or as a percentage of your annual income. 

We can help you form a budget to keep money aside for when the payment is due, and give you a reminder of when it needs to be paid by to ensure you do not have to pay any late payment penalties. 

 

You can rely on MSA for utmost professionalism and accuracy in all your financial needs including financial accounting and management, trust administration and property investment.
 
Need tax help? MSA are tax agents, advisors and accountants who can assist with all of you income tax enquiries and processes, from start to finish.
 
For more information, contact our friendly team today.