Note - Covid 19 $5000 Low Value Asset Write-off Threshold Ends 16th March
The 12 month Inland Revenue Covid 19 assistance of being able to expense any asset purchase below $5000 is coming to an end. This option ends on the 16th of March 2021. This was a one-time/year deal.
If you are thinking about buying an asset for your company or sole trader organisation then it may be worth getting your purchase in before this date so that it can be immediately expensed rather than held as an asset and depreciated over a number of years. Thereby reducing this year's income tax.
I.e. New Asset $4500 - claim GST of $586.96, Net Asset Expensed $3913.04 = Reduction of Income Tax at the company rate of 28% =$1095.65
From the 17th of March the new rate of $1000 applies to the low-value asset write-off threshold.
But remember this only works out financially if it was actually an asset that you needed to buy in the coming months. I can't tell you the number of times I have heard of people spending money on things they did not really need in order to reduce their tax. It is a misunderstanding that is all too common.
Worst Xmas ever?
There's a a lot of planning that goes into Christmas day and sometimes things just don't go to plan. But it can be a good thing - a family mishap or hilarious memory that you can laugh about in Christmases to come.
Whether you burnt the dinner or were stranded at an airport...
Share your Christmas mishaps below!
⚠️ DOGS DIE IN HOT CARS. If you love them, don't leave them. ⚠️
It's a message we share time and time again, and this year, we're calling on you to help us spread that message further.
Did you know that calls to SPCA about dogs left inside hot cars made up a whopping 11% of all welfare calls last summer? This is a completely preventable issue, and one which is causing hundreds of dogs (often loved pets) to suffer.
Here are some quick facts to share with the dog owners in your life:
👉 The temperature inside a car can heat to over 50°C in less than 15 minutes.
👉 Parking in the shade and cracking windows does little to help on a warm day. Dogs rely on panting to keep cool, which they can't do in a hot car.
👉 This puts dogs at a high risk of heatstroke - a serious condition for dogs, with a mortality rate between 39%-50%.
👉 It is an offence under the Animal Welfare Act to leave a dog in a hot vehicle if they are showing signs of heat stress. You can be fined, and prosecuted.
SPCA has created downloadable resources to help you spread the message even further. Posters, a flyer, and a social media tile can be downloaded from our website here: www.spca.nz...
We encourage you to use these - and ask your local businesses to display the posters if they can. Flyers can be kept in your car and handed out as needed.
This is a community problem, and one we cannot solve alone. Help us to prevent more tragedies this summer by sharing this post.
On behalf of the animals - thank you ❤️
Poll: Would you rather: Christmas in summer forever or winter forever?
Just a bit of a fun poll to get you thinking.
If you had to live out your Christmas days, would you prefer it was a summer Christmas or a winter Christmas?
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61.6% Summer
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36.7% Winter
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1.7% Other - I'll share below
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