Tax Pooling & FBT

Date: 26 July 2016
Time: 16:00 - 17:30
BDO Rotorua
1130 Pukaki Street
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  • Summary

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Do you have a clear understanding of Tax Pooling and FBT and what it means for your business?

With provisional tax and FBT dates looming, it’s crucial you understand your business position and what can be done to limit your exposure.

Tax Pooling

If you are a provisional taxpayer then you need to know about the advantages of tax pooling and how it can benefit your business!

We commonly see the IRD:

• Give a low credit rate of interest for overpayments and
• Charge high debit rates of interest for underpayments during the year

Established by the IRD in 2003 to lessen the burden of these issues for provisional taxpayers, tax pooling can help reduce the costs by allowing taxpayers to trade their payments with each other and everyone wins.

Tax Management NZ is is the first provider of tax pooling offering options that will allow you greater flexibility and interest savings in your management of Provisional Tax.

Doug Maarschalk, from “Tax Management NZ”, presents a half hour session on cash flow options available to you around Provisional Tax . Whether you have underpaid previous payments or thinking that cash will be in short supply for your upcoming Provisional Tax payment, there are opportunities to settle this tax at a convenient time for you while saving money on interest.

Fringe Benefit Tax

Decided to offer your staff the use of a company vehicle? As an employer you may be liable for fringe benefit tax (FBT).

Alex Pearce (BDO tax advisor) presents a session on ways to limit your exposure to the FBT regime.
“It’s about setting the correct policies, completing the required documentation and hey-presto you may have just saved your business a significant amount of tax (FBT).”

Learn some simple mechanisms to reduce the perceived benefits provided to your staff such as;
• Storing the company vehicle at home
• Market value vs cost value for motor vehicles
• Thresholds for benefits subject to FBT
• Alternate rate vs flat rate
• Types of returns available (annual, quarterly & income year)

Seats are limited so please RSVP as soon as possible.