Tag: deductions
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Maximising Tax Deductions: Commonly Overlooked Deductions for Small Businesses in New Zealand
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Many small business owners unknowingly miss out on tax deductions, leaving money on the table. Every dollar saved is a dollar reinvested. From home office expenses to depreciation and loan interest, knowing what you can claim can reduce taxable income and improve cash flow. This guide covers key deductions you might be overlooking, helping you…
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A Guide to Bad Debt Deductions for New Zealand Businesses
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Unpaid invoices can significantly impact cash flow and profitability for businesses. Fortunately, New Zealand tax law allows businesses to write off bad debts and claim them as deductions, reducing taxable income. However, specific conditions must be met to ensure compliance with Inland Revenue (IR) requirements. This guide explains when a debt qualifies as “bad,” the…