Welcome to the inaugural edition of the McDonnell Hume Partners monthly newsletter!
Our goal in sending this newsletter each month is to keep our clients updated with what is happening in our firm and the world around us, as well as upcoming due dates and changes to any relevant tax laws.
Please, as always, feel free to contact your assigned manager or partner to discuss any topics raised in this newsletter.
What we have been up to
The last month has been a busy one for all staff at McDonnell Hume Partners.
Our website has been launched filled with reference material, an option to request appoinments and much more.
Our facebook page has also reached 500 likes in recent weeks. If you would like to engage with us on the facebook page or would like to subscribe to regular posts from the page, please 'like' our page at
We have also been working in partnership with the Central Highlands Development Corporation to pur together a series of workshops aimed at businesses: from what you need to start a business, right up to succession planning and restructure. The first workshop is due to run on 16 March 2007.
Click here to sign up https://regonline.activeglobal.com/builder/site/Default.aspx?EventID=1963252
The World of Tax
In the 2015 Federal Budget, the threshold for claiming a 100% write off for depreciable assets was increased to $20,000. This covers assets brought by small businesses from 12 May 2015 to 30 June 2017, so there are only a few months to go to be able to fully deduct depreciable assets under $20,000. If you have any queries regarding your eligibility for this claim, please contact our firm.
As mentioned above 30 June 2017 is fast approaching. This means that it is time to start your year end tax planning for the 2017 tax year. Our team can advise on estimated tax positions, strategies to save tax as well as assist the general performance of your business.
Due Dates March 2017
Due date to lodge and pay monthly activity statements for February 2017
Income Tax Returns
Due date, unless due earlier, for companies and super funds with total income in excess of $2 million in the latest year lodged (excluding large/medium entities) to lodge 2015/16 income tax returns and pay income tax
Due date, unless due earlier, for head companies of consolidated groups without a member deemed to be al large/medium entity in the latest year lodged, but with a member that had a total income in excess of $2 million in the latest year lodged, to lodge 2015/16 income tax returns and pay income tax
Due date for individuals and trusts whose latest return resulted in a tax liability of $20,000 or more (level 6), excluding trusts that are large/medium entities, to lodge income tax returns. The due date for entities in this category to pay income tax is the date started on their notice of assessment.
An additional due date to be conscious of is 15 May 2017. This is the last day for 2016 income tax returns to be lodged. If you have not already, please forward you relevant information to our office so that we can prepare your return in time to meet the deadline.
And of course, if you have any questions, comments, or suggestions please don't hesitate to contact us at any time. We'd love to hear from you!
McDonnell Hume Partners
You can keep up to date with important accounting and business dates and deadlines. More...
The Tax Facts section where you can learn more about tax requirements within New Zealand. More...
Try out our new online calculators. More...
You can also organise an appointment with one of our staff via our special online appointment form. This is particularly useful if you struggle to find the time during normal business hours to phone. Simply click here to book an appointment.