+64 9 425 8536info@kgaww.co.nz

May 2017 newsletter

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This year we’re moving more and more to working electronically, which includes our communications with you.

We will be sending out our annual questionnaires by email, for you to complete and return with your documents.  This can be electronically or you can pop them in to the office.

If for any reason you need a hard copy of these, please do let us know!

If your questionnaires haven’t arrived yet, you will receive them in the next two weeks.

 

 


2017 BUDGET HIGHLIGHTS
The key tax announcement is a change to the tax thresholds. Previously the tax thresholds looked like this:

Income tax bracket Tax rate
$0 – $14,000 10.5%
$14,001 – $48,000 17.5%
$48,001 – $70,000 30%
$70,000 and higher 33%

From 1 April 2018, they will look like this:

Income tax bracket Tax rate
$0 – $22,000 10.5%
$22,001 – $52,000 17.5%
$52,001 – $70,000 30%
$70,000 and higher 33%

Working for Families and the Accommodation Supplement

  • The family tax credit rates will increase from 1 April 2018.  The rate for the first child aged under 16 will increase by $9 a week; the rate for each subsequent child will increase by either $18 or $27 per week, depending on the age of the child.  However, the family tax credit will abate at 25c in the dollar above an income of $35,000.
  • The Independent Earner Tax Credit (which was up to $10 per week) has been removed.

The accommodation supplement rates (which had been unchanged since 2005) are to increase from 1 April 2018.  For a two-person household this represents an increase of between $25 and $75 a week, while larger households will receive an increase of between $40 and $80 a week.  The accommodation benefit for eligible students will also increase by up to $20 a week.


TERMS OF TRADE
We would like to advise a change in our terms of trade – invoices are now due 14 days from date of invoice.  We are now invoicing throughout the month as work is completed, rather than at month end, which we hope will be more convenient for you – and brings us into line with industry standards..


INTRODUCTIONSsarah

We’re pleased to introduce our newest staff member – Sarah Bromley.

Sarah has taken over from Hailey as Client Services Specialist, so please say “Hi” if you’re dropping in papers or visiting your accountant.

Sarah’s background is in customer service and we are very happy to have her join us.

Hailey has moved to Practice Manager and we will be looking at utilising her Marketing, Communications and Administrative expertise.

 

 

 

 

 


COMMUNITY INVOLVEMENT

You may have seen the recent issue of Mahurangi Matters highlighting volunteers in the community, and spotted our name as sponsor of the Kawau Coastguard.  We are very proud to sponsor a number of community groups and charitable associations in our region, including –

The Jane Gifford Restoration Trust
Warkworth Tennis and Squash Club
Mahurangi Rugby Club
Kawau Coastguard
One Warkworth Business Association


Important tax dates
28 June            Provisional tax payments for ratio option customers and GST returns and payment due
7 July                Due date for income tax returns
28 July             GST returns and payments due
28 August        Provisional tax instalments, student loan interim payments, GST returns and payments due


Rotary picture couple with dogs B&W

As always, we look forward to being of service to you throughout the coming year.  If you have any queries or additional requirements, please do not hesitate to contact us.

Contact Us

Please contact us, using the form below, and we'll get back to you, asap.