When do you need a tax adviser

The simple answer is if you have income that is not from NZ sourced wages/salary, superannuation, benefit, bank investments, kiwisaver, or fully taxed dividends then you probably need to talk to a tax adviser.

Obviously if you are in business a tax adviser is a wise choice but here’s some examples of other income that you may need help with:-

  1. Foreign income from any source e.g. trusts, wages, rent etc.
  2. Withholding income – usually contractor income
  3. Income from boarders
  4. Income from tenants
  5. Sale of goods that you bought to on-sell
  6. Beneficiary income from a Trust
  7. Trustee income

The Inland Revenue may help you with the above but are unlikely to ensure you claim all the expenses you can.

Expenses you can legally claim very much depends on your business activity and tax legislation.  Tax is not logical, it’s not fair for the business person and it takes more than five minutes to gain the required knowledge to get it right.

Tax Advisers Who Needs Em’