The new Gateway Test, introduced on 21 February 2026, is designed to make it easier to determine whether a worker is genuinely an independent contractor rather than an employee. If a working arrangement meets all of the Gateway Test criteria, the worker will be recognised as a contractor. If it doesn’t, the existing common law…
The 2026 Budget doesn’t introduce any major tax changes, providing some welcome certainty for businesses planning ahead. However, there are a few key developments employers should be aware of. Higher Employment Costs You’ve likely heard about the recent KiwiSaver changes, when employer contribution rates rose to 3.5% as of 1 April 2026. While this has…
Recent tax changes and new technology tools could make a real difference for farming businesses. From the Investment Boost tax deduction to Fringe Benefit Tax (FBT) rules on staff gifts, it’s important for farmers to understand how these updates may affect their tax position. Below are three key updates our farming clients should be aware…
New Zealand’s minimum wage is set for another adjustment on 1 April 2026, following the government’s annual review process. This change affects roughly 122,500 workers across the country, and offers nearly a 2% boost on the current minimum wage. The changes are as follows: All rates are before tax and any lawful deductions (i.e. PAYE…
From 1 April 2026, the New Zealand Government is increasing the default KiwiSaver contribution rates for both employees and employers. While the change may seem small, it will have a real impact on take‑home pay, payroll costs, and business budgets, so it’s important to be prepared. What’s Changing? Currently, the default KiwiSaver contribution rate is 3% for both employees and employers. From 1 April 2026, this will…
Innovation drives long‑term business growth, and the New Zealand Government supports this through the Research and Development Tax Incentive (RDTI). The RDTI reduces the financial risk of innovation by providing a 15% tax credit on eligible R&D expenditure, capped at $120 million per year. What is the RDTI? The RDTI applies to qualifying research and…
JAX Auto Bank Reconciliation is a feature in Xero has just released to clients with a Grow Subscription Talk to your YHPJ manager if you are on a grow subscription and ready to turn on JAX Auto Bank Reconciliation
The holiday season is here—a time for joy, gratitude, and giving back to the people who make your business thrive. One of the most popular ways to show appreciation is by gifting employees something they’ll truly enjoy. Gift cards are a versatile and thoughtful option, but before you start wrapping them up, it’s important to…
As cryptocurrency adoption grows in New Zealand, many investors are unaware of their tax obligations with the IRD. Understanding these requirements is essential for compliance and avoiding penalties. If you haven’t already got on top of your Crypto taxes, the earlier the better as IRD has invested significant resources to gather information and understand more…
Successful company owners understand the ‘rules of the game’ when using a limited liability company as a business vehicle. A couple of important things to understand about companies right at the outset are: 1) A company is a separate legal entity. This has many benefits. Keep in mind that there is no such thing as…
