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Mid-Year Update

Hi all

As we gather momentum into the second half of the year, we thought we would send a quick update.

New offices:

On the 1st September we will be moving offices. After 10 years in Parnell, we have decided to move into the suburbs. We will be relocating to 551 Remuera Road, Remuera (beside the new 4 Square). We will keep you posted on the move and look forward to seeing you in the new space. There is parking right beside the entrance.

New bank account:

We have changed banks to Kiwibank. You may have noticed the new account on invoices and thanks to everyone who has paid through to the new account or reached out about the change. The old account remains open, but we would encourage you to update our details with your bank. The Kiwibank account number is 38-9024-0820741-00. We also accept Stripe payments by credit card.

XERO Reporting:

XERO is currently updating their technology. Part of this will see older versions of their reports being retired as of 30 July 2023. After this date:

· you won’t be able to run any older versions of our reports.

· any saved drafts of old reports will be removed from Xero.

· you will have read-only access to old published and archived reports.

There will be no impact on customised reports. If you are concerned about this and how it will affect your ability to run a specific report, please contact us and we can work with you to generate a customised report.

GST Compliance

The IRD has started to focus on outstanding GST returns and payments. Where you have missed a GST filing or payment, we would encourage you to contact us for support with lodging the missing return(s) and working through your payment options.

If you are contacted directly by the IRD please reach out and we can work with you to get up to date.

Is the Australian tax holiday over for New Zealand citizens living in Australia?

From 1 July 2023, New Zealand citizens living in Australia will have a direct pathway to Australian citizenship. All Special Category Visa (SCV) holders will now be able to apply directly for citizenship, without becoming permanent residents first, as long as they meet a four-year residence and other eligibility requirements.

This all seems nice and neighbourly, with our Aussie cousins welcoming us to Australia but is there something more to it? The change has raised the question – will New Zealand citizens now be subject to more Australian tax?

Currently, New Zealand citizens holding a SCV who live in Australia (and meet certain other limited criteria) are considered temporary residents for Australian tax purposes. Temporary residents enjoy concessional tax status in Australia as whilst they are subject to Australian tax on worldwide employment income, only Australian source investment and capital gains are taxable. In simple terms if temporary residents make ‘capital’ from selling shares in a US company or an investment property on Lake Como then they would not be taxable in Australia.

Under the new direct citizenship pathway, from 1 July 2023 New Zealand citizens holding an SCV will be considered permanent residents for citizenship purposes with varying effective dates depending on their individual circumstances. The temporary resident status is determined by reference to the migration act and an individual’s status under this Act can have a significant bearing on their tax position.

The ATO are yet to clarify if a permanent resident for citizenship purposes will no longer be eligible for concessional tax status. We would like to suggest that New Zealander’s will only cease to be a temporary resident for tax purposes from the date they are granted Australian citizenship. This would mean that from that date they will be taxed on their worldwide income in Australian including capital gains tax.

We expect further clarification on this matter in the coming months – stay tune for more information.

Fraudulent Email Scams:

Unfortunately, it’s become a “popular” issue as scams are becoming more and more frequent and sophisticated. Would you please be vigilant and look out for any unusual email and text you receive from any unknown source. In particular, please do not respond, click any link and reply to any email from the Inland Revenue where refunds or tax are mentioned. The Inland Revenue do not send out emails with such information.

If you do receive an email supposedly from the Inland revenue, that you are unsure of don’t open it, notify us or you can forward to the Inland Revenue security department at

Please get in touch if there is anything we can assist with.

Michael, Anna and the team

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