3 tips for getting your home loan approved

In 2021, new lending restrictions came into effect under the Credit Contracts and Consumer Finance Act (CCCFA) – and immediately there were stories of people being declined loans for what seemed like trivial reasons. In March, the Commerce Minister announced changes designed to free up the process of loan applications at the banks. This shouldContinue reading “3 tips for getting your home loan approved”

New Trust Disclosure Rules – apply from the 2022 tax year

The 39% tax rate for individuals is going to mean close scrutiny will be put on transactions between individuals and trusts. This includes harsh new disclosure rules designed to ensure the Inland Revenue has clear visibility over such transactions whether they are taxable or not. Previously, trusts have files returns declaring taxable income including distributionsContinue reading “New Trust Disclosure Rules – apply from the 2022 tax year”

End of Year Update, Fuel Rebates & New COVID Support Announced

The end of the 2022 financial year for most businesses is fast approaching. So we thought it was appropriate to get you thinking about what needs to be tidied up in your business before year end.  There are several things business’s need to think about prior to 31 March to ensure the information we receiveContinue reading “End of Year Update, Fuel Rebates & New COVID Support Announced”

Omicron in the Community

With Omicron circulating in the community, chances are if you have employees your business may become affected in some way. Below is some information to assist with your requirements as an employer . There are many different scenarios which can occur when people are sick or forced to isolate. Below are some different scenarios youContinue reading “Omicron in the Community”

Time to Review 2021 and Plan for 2022!

What are your business goals for 2022? The beginning of a new calendar year is an excellent time to review the year just finished and reflect on what worked, what didn’t, what you’d like to change and new things you’d like to implement. Last year, there were inescapable impacts on businesses, with some thriving, othersContinue reading “Time to Review 2021 and Plan for 2022!”

Handy Hints for the End of the Year

Five Things All Employers Should Consider In Early December As the holiday season approaches, take some time to think about how you want to structure the operation of your business. A bit of planning will ensure you avoid paperwork mishaps and breaches of the Holidays Act 2003. Taking time out over the summer? You can haveContinue reading “Handy Hints for the End of the Year”

Rental Tax Changes are About to Kick In – Be Ready!

Earlier this year, the Government announced the removal of tax deductions on loan interest for rental properties. Previously, interest payments could be claimed as a business expense and taxed accordingly, giving property investment a tax advantage. Now, properties bought from April 2021 onwards will not be able to claim any tax deductions for the interestContinue reading “Rental Tax Changes are About to Kick In – Be Ready!”

COVID-19 Financial Support

Most businesses have obviously been affected by the latest Alert Level changes. You may still be eligible for financial assistance. Below is some information on the latest round of both the Wage Subsidy and the Resurgence Support Payment, and the criteria you need to meet for both. Wage Subsidy Scheme Wage Subsidy August 2021 #2: ApplicationsContinue reading “COVID-19 Financial Support”

Newsletter – Winter 2021

Welcome to the last month of winter 2021! The team here at JMA have been really busy getting financial statements & tax returns completed. We thought it was time to highlight a few of the recent changes that have been announced. These include changes to sick leave entitlements, investment property changes and motor vehicle fees. SickContinue reading “Newsletter – Winter 2021”