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Published on September 19th, 2017 | by Two Sparrows

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Crowe Horwath: September tax update

Motor vehicles and fringe benefit tax

A fringe benefit arises when an employer makes a motor vehicle available to an employee for private use. A fringe benefit may also arise when a company makes a motor vehicle available to a shareholder that works in the company’s business. For a fringe benefit tax (FBT) liability to arise, the employer or company only needs to make the vehicle “available” for private use – the employee or shareholder-employee does not need to actually use the vehicle for private use. Allowing an employee access to a vehicle and permitting private use is sufficient for an FBT liability to arise. Read more


Winter storms – repairs and maintenance and insurance

The last few months have seen some wild weather causing storm and flood damage in various parts of the country. This has resulted in insurance claims and property owners setting about putting the damage right. Where the damaged property is a business asset, such as a business premises, or is used to derive income, such as a rental property, there are tax considerations in relation to insurance receipts and the repair work being undertaken. Read more


Author: Amanda Watt
For: Crowe Horwath
SoapBox Group: Auckland Central


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