MyTax news

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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pay tax

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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Are you on the right Tax Code?

Categories   Featured News & Updates

Your New Zealand tax code determines how much tax you have to pay. If you’re working for someone, it tells your employer how much they need to deduct from your income via the Pay as You Earn (PAYE) system. The money that gets deducted includes both the tax rate for your income and your ACC earner’s levy.…

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jargon 3

Doing your taxes on your own is hard because it’s just so easy to get it wrong. Part of the difficulty lies in all the jargon: from allowable deductions to new income, just how is anyone able to fill out the IR330 without pulling their hair out over the painful terminology? You’re no accountant so we don’t expect you to know your RWT from your PAYE to your SOE.…

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Jargon 1

Congratulations! You’ve just completed your degree and you’re ready to follow in the footsteps of countless Kiwis before you: heading off on your big OE. The best part about this is that you totally deserve it. Getting a degree is a big deal and you’ve earned the right to head off on big adventures overseas. The worst part about this is that you have a pretty massive student loan.…

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