The last day for the filing of 2015 tax returns is fast approaching. We urgently require all outstanding financial information e.g. loan statements, home office expenses etc.  If you have any of this information outstanding please contact us as soon as possible.  Any tax returns that are not filed by the 31^st March 2016 will trigger late filing penalties with IRD.  Late filing penalties of up to $250 will be applied to outstanding returns after this date.  Interest and penalties can also apply on any resulting terminal tax liabilities not paid by 7^th April 2016.

If you need any help collating the information, give us a call and we can help you out. Online banking can be a great tool these days in locating bank and loan account transactions with search functions available, and the ability to download transactions as an excel file being incredibly helpful.

The home office expense claim is often the last piece of information we are waiting on. This gives business owners working from home the opportunity to claim for a portion of their home expenses against their income. These expenses can include mortgage interest or rent, insurance, repairs, power, gas, phone, internet and rates. A spreadsheet to assist with this can be found on our website.

As soon as you have provided your 2015 info, you can get a head start on providing us with your 2016 info.  This will help ensure your extension of time is retained for another year, and we can get your tax returns done efficiently.

Written by Hayden Ring