Understanding Bonding Trips: Bonding trips are activities organized by businesses to strengthen relationships among team members, boost morale, and enhance cooperation. These trips often include team-building exercises, outdoor adventures, and collaborative projects. However, if the trip was considered personal in nature by IRD or not primarily for business purposes, the expenses are not tax deductible.

Provisional tax is a way of paying your income tax in instalments throughout the year, rather than in a lump sum at the end of the tax year.

Entertainment expenses when with clients or colleagues on business, like Lunches and Dinners are generally 50% deductible. We encourage you to code it to entertainment and at the end of the year we adjust for the non-deductible portion of larger bills. 

Our job as accountants is to save you more in tax than your accounting fees. Modern accounting practices using accounting software platform work efficiently so the accounting services are becoming affordable over the years.

What you can claim for Motor Vehicle Expenses. If you have a vehicle expense that is partly for your business and partly for your private use, you can claim the proportion that relates to your business.