Tax changes coming soon

If you have contractors working for you and you are deducting and paying withholding tax to the IRD (commonly known as scheduler payments), then as from 1 April 2017 these contractors can choose their own rate of tax (subject to minimums and must not be lower than 10%) to be deducted from any payments made after 1 April 2017. If a contractor wants to change the rate of tax deducted then they must complete a new form called IR330C (link below). Any new contractor you take on after 1 April 2017 must complete an IR330C and NOT an IR330 which was previously used.

Download the IR330C Form
This new form does not apply to employees getting salary or wages, new employees still need to complete an IR330.

Are you a Labour Hire Business?

A labour hire business is one where it’s main activities or one of its main activities is arranging for a person to perform work or services directly for its clients, or clients or another person. These businesses may also be known as recruitment services, employment agency, contract management services etc. If this is you and you hire contractors call us today to discuss how the changes may impact your business…