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    Accounting

    Our Starter, Lite, and Premium Accounting Plans are for GST and Non-GST registered small businesses.

    Bookkeeping

    Working to your schedule, our certified Bookkeepers help you stay on top of your financial records.

    Payroll

    Our dedicated payroll specialist will process your payruns and ensure your payroll needs run smoothly every time.

    Audit Protection

    We believe in offering our clients smart financial advice and helping them protect their company in case of audit.

    Virtual Finance Team

    Our Virtual Finance Team provides the assistance and advice of a financial department at cost-effective prices. 

    Mortgage & Insurance

    Everyone deserves a chance to make their business and home ownership dreams a reality. Our knowledgable advisors help you find the right solution and protect your investment.

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Consol
  • About Us
  • Services
    Accounting

    Our Starter, Lite, and Premium Accounting Plans are for GST and Non-GST registered small businesses.

    Bookkeeping

    Working to your schedule, our certified Bookkeepers help you stay on top of your financial records.

    Payroll

    Our dedicated payroll specialist will process your payruns and ensure your payroll needs run smoothly every time.

    Audit Protection

    We believe in offering our clients smart financial advice and helping them protect their company in case of audit.

    Virtual Finance Team

    Our Virtual Finance Team provides the assistance and advice of a financial department at cost-effective prices. 

    Mortgage & Insurance

    Everyone deserves a chance to make their business and home ownership dreams a reality. Our knowledgable advisors help you find the right solution and protect your investment.

  • Resources
    • Xero
    • Blog
    • FAQs
  • Contact
  • Testimonial
  • About Us
  • Services
    Accounting

    Our Starter, Lite, and Premium Accounting Plans are for GST and Non-GST registered small businesses.

    Bookkeeping

    Working to your schedule, our certified Bookkeepers help you stay on top of your financial records.

    Payroll

    Our dedicated payroll specialist will process your payruns and ensure your payroll needs run smoothly every time.

    Audit Protection

    We believe in offering our clients smart financial advice and helping them protect their company in case of audit.

    Virtual Finance Team

    Our Virtual Finance Team provides the assistance and advice of a financial department at cost-effective prices. 

    Mortgage & Insurance

    Everyone deserves a chance to make their business and home ownership dreams a reality. Our knowledgable advisors help you find the right solution and protect your investment.

  • Resources
    • Xero
    • Blog
    • FAQs
  • Contact
  • Testimonial
0800 001 851
Book A Call
Consol
  • About Us
  • Services
    Accounting

    Our Starter, Lite, and Premium Accounting Plans are for GST and Non-GST registered small businesses.

    Bookkeeping

    Working to your schedule, our certified Bookkeepers help you stay on top of your financial records.

    Payroll

    Our dedicated payroll specialist will process your payruns and ensure your payroll needs run smoothly every time.

    Audit Protection

    We believe in offering our clients smart financial advice and helping them protect their company in case of audit.

    Virtual Finance Team

    Our Virtual Finance Team provides the assistance and advice of a financial department at cost-effective prices. 

    Mortgage & Insurance

    Everyone deserves a chance to make their business and home ownership dreams a reality. Our knowledgable advisors help you find the right solution and protect your investment.

  • Resources
    • Xero
    • Blog
    • FAQs
  • Contact
  • Testimonial
  • About Us
  • Services
    Accounting

    Our Starter, Lite, and Premium Accounting Plans are for GST and Non-GST registered small businesses.

    Bookkeeping

    Working to your schedule, our certified Bookkeepers help you stay on top of your financial records.

    Payroll

    Our dedicated payroll specialist will process your payruns and ensure your payroll needs run smoothly every time.

    Audit Protection

    We believe in offering our clients smart financial advice and helping them protect their company in case of audit.

    Virtual Finance Team

    Our Virtual Finance Team provides the assistance and advice of a financial department at cost-effective prices. 

    Mortgage & Insurance

    Everyone deserves a chance to make their business and home ownership dreams a reality. Our knowledgable advisors help you find the right solution and protect your investment.

  • Resources
    • Xero
    • Blog
    • FAQs
  • Contact
  • Testimonial
Book A Call
Consol
  • About Us
  • Services
    Accounting

    Our Starter, Lite, and Premium Accounting Plans are for GST and Non-GST registered small businesses.

    Bookkeeping

    Working to your schedule, our certified Bookkeepers help you stay on top of your financial records.

    Payroll

    Our dedicated payroll specialist will process your payruns and ensure your payroll needs run smoothly every time.

    Audit Protection

    We believe in offering our clients smart financial advice and helping them protect their company in case of audit.

    Virtual Finance Team

    Our Virtual Finance Team provides the assistance and advice of a financial department at cost-effective prices. 

    Mortgage & Insurance

    Everyone deserves a chance to make their business and home ownership dreams a reality. Our knowledgable advisors help you find the right solution and protect your investment.

  • Resources
    • Xero
    • Blog
    • FAQs
  • Contact
  • Testimonial
  • About Us
  • Services
    Accounting

    Our Starter, Lite, and Premium Accounting Plans are for GST and Non-GST registered small businesses.

    Bookkeeping

    Working to your schedule, our certified Bookkeepers help you stay on top of your financial records.

    Payroll

    Our dedicated payroll specialist will process your payruns and ensure your payroll needs run smoothly every time.

    Audit Protection

    We believe in offering our clients smart financial advice and helping them protect their company in case of audit.

    Virtual Finance Team

    Our Virtual Finance Team provides the assistance and advice of a financial department at cost-effective prices. 

    Mortgage & Insurance

    Everyone deserves a chance to make their business and home ownership dreams a reality. Our knowledgable advisors help you find the right solution and protect your investment.

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Back to FAQs

Accounting and Tax Compliance

  • What is GST?
  • Should I become GST registered?
  • How do I become GST registered?
  • Annual Leave and Holiday Pay
  • What is Holiday Pay?
  • What is Provisional Tax?
  • What is Depreciation and how does it work?
  • End of Year Financial Checklist
  • Do I have to file income tax by 7 July?
  • IRD Penalties
  • Anti-Money Laundering Requirements for Accountants
  • What are my record keeping obligations?
  • What expenses can I claim through my business?
  • Entertainment expenses
  • Working from home.
  • Motor vehicle expenses
  • Business vehicle – lease or buy?
  • What expenses can I claim for rental property?
  • Can I offset rental losses against other income?
  • Repairs and Maintenance
  • Do I need to set up a company or can I trade as a sole-trader?
  • How can I pay myself from my business?
  • Payment for working on a Public Holiday
  • What if customers pay me cash?
  • Do I have to pay Fringe Benefit Tax (FBT) on gifts to employees?
  • Are donations made by a company tax deductible?

Working from home.

If you’re a business owner and use part of your family home for work, you can make a claim for this as a business expense.

You can claim a portion of your household expenses, such as rates, insurance, power and mortgage interest. The portion you can claim relates to the area of your home that you use for business.

How it works: If your home is 100 squire metre and your working space is 10 square meters – 10% of the total area. You can claim 10% of expenses that are not solely for your business.

If you aren’t using a separate area of home for business, you’ll need to take into account how much time you spend on your business and the area used.

If you’re GST registered, the GST content on home office expenses can be claimed as they’re paid in each GST return period or at the end of the financial year. Mortgage interest and rent don’t include GST.

What comes under Home Office Expense – GST:

  • Water
  • Rates
  • Power
  • Insurance
  • Internet
  • Telephone

What comes under Home Office Expense – No GST:

  • Rent
  • Mortgage Interest
    If you have a mortgage you can claim the same proportion of your mortgage interest (but not the principal) paid during the year. There is no GST involved in this.

Check out our Home Office Expense YouTube training video https://youtu.be/Gb_EaKbCoN4

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Updated on March 7, 2022
Entertainment expensesMotor vehicle expenses

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