MyTax news

New Zealand Tax Residency

Categories   News & Updates

If you are planning on living and working overseas, or coming to New Zealand to work, then you need to consider your tax status.

Typically, if you are resident in one country for long enough, then you pay taxes in that country, however there are a number of special cases that could affect you. Do you have to keep paying off a student loan?…

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Many expenses associated with running a business can be deducted. Not all business expenses can be claimed, and not all expenses are 100% deductible, so let’s take a closer look at some of the common questions relating to deductions.

Tax deductible expenses in New Zealand fall into the following main categories:

  • Vehicle expenses
  • Travel expenses
  • Using your home for business purposes
  • Holiday homes
  • Entertainment expenses
  • Capital (consumer) contributions
  • Environmental expenditure

Source: New Zealand IRD


 Can I Claim Overseas Travel?

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Taxation on Investments

Categories   News & Updates

Tax applies to investment income in New Zealand.

If you hold investments, there are various aspects of tax legislation that may apply to you, depending on the type of investment you have, and any other earnings that you make. In this article, we’ll take a look at some of the more common investment tax scenarios and provide a few useful links to further reading material.…

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If you have boarders, flatmates or tenants, you may be liable for tax on any payments they make to you in exchange for accommodation.

Typically, you can reduce the amount of tax you must pay by including related expenses. For example, if you had the expense of a mortgage, which is necessary to provide the accommodation, then you might be able to include this a tax deductible expense.…

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Café couple at job search meeting

TradeMe Sales: Do I Need To Pay Tax?

Categories   News & Updates

It’s a common question.

If you’re selling your stuff on TradeMe, or anywhere else online, do you need to pay tax?

TradeMe is the top trading site in New Zealand with over 4 million accounts registered. Given the volume of trades that go through the site, it naturally attracts the attention of various authorities, including the Police and the IRD.…

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Governments typically like taxing things, whether the aim is to raise revenue or to dissuade usage, but is it a good idea to tax sugar, and sugary drinks, in particular? In this article, we’ll look at the pros and cons and look at how it might affect your weekly shopping bill if they do.

Who Is Calling For A Sugar Tax?

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sugar tax

Do you remember when you received your first pay packet? It probably felt good to see your total earnings on the pay slip.

However, like many people, your heart no doubt immediately sunk when you saw the deductions. The biggest of those deductions was likely taken by the taxman, namely income tax.

In this article, we’ll look at why the taxman takes a hefty chunk of your earnings, and the steps you can take to reduce that amount, or reclaim your overpaid taxes back.…

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The winner of the Canstar Blue Consumer Satisfaction Award – Personal Tax Agent for 2017 is MyTax. MyTax scored a maximum five stars in all six categories and won the Most Satisfied Customer award for the second year running.


Again this year, MyTax was the only agent to receive a 5-star score from consumers for overall satisfaction.…

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Tips on Investing Your Tax Refund

Categories   Featured News & Updates

It’s a good idea to have a plan in mind for money you get from a tax refund, otherwise it’ll be gone before you know what to do with it! You might already have your tax return earmarked for some good times (Laneway Festival anyone?!) – but before you go making it rain with your tax refund, think about the fact that this tax return is no gift from the government but rather your own money that should have been in your bank account from the beginning.…

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