FAQ
| Question | Nature of Business | Business Structure | Taxation Type | Answer |
|---|---|---|---|---|
| My husband and I are looking to buy an investment property what structure would you recommend? | Property Investment | Company | Income Tax | Depends on all the relevant circumstances but an LAQC company is often a good choice (both for risk management and taxation benefit) for investment property assuming there is likely to be losses to use in the initial stages of the investment. |
| Is ACC paid for shareholder employees tax deductible for companies? | All | Company | Income Tax | ACC levies are split into several categories and all but the "Earner Levy" is tax deductible for companies. |
| Work clothes - are these costs tax deductible? | All | All | Income Tax | Generally the postion IRD takes on this is that these costs are deemed to be a "personal or private" nature and therefore not deductible. However there are examples such as protective work boots and uniforms that are sometimes deductible to the business. |