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Changes proposed for motor vehicles Currently close companies (such as LTCs and QCs) providing a motor vehicle for the private use of shareholder-employees must pay FBT on the value of the benefit provided. This value is based on the availability of the vehicle rather than its actual private u...

Livestock - Explaining the Herd and NSC Livestock Valuation Methods Herd Scheme The theory underlying the herd scheme is that the livestock (Herd) are a capital asset. It therefore follows that the movement in livestock values should not be assessable income. Changes in numbers and class...

Travel Allowances As an employer, you may pay cash allowances to reimburse an employee for travel between home and work. If special circumstances apply and the travel is somehow extra to the employee’s normal travel for work, the travel allowance will be tax-free, for instance if the emplo...

View from the dashboard: Do you have the whole picture? We have so much information literally at our fingertips these days. As individuals, our days and nights are punctuated with the ping of social media updates. Businesses receive streams of layered information from news feeds, message b...