A focus on topical tax issues - April 2018
New rules for employers reimbursing employees’ mileage costs
If you are an employer that has been using the Commissioner’s published mileage rate as a reasonable estimate of costs to reimburse employees for the use of their private vehicle, then beware, the rules have changed with effect from 1 April 2018. Essentially, the flat mileage rate has been replaced with a more complicated two-tier set of kilometre rates which potentially means a lot more compliance for employers than is currently the case.
Also in this issue
- Inland Revenue issues the first Large Enterprises Update of 2018
- Don’t forget your GST entertainment expenditure adjustment
- Have your statutory filing obligations changed?
- Do you have assets used for making both taxable and non-taxable supplies?
- Tax Working Group – submissions are open
- A snapshot of recent developments