Month: October 2012

A common question that we get asked, is “what portion of my home expenses am I able to claim for tax purposes?” Where a self-employed taxpayer uses his or her home partly in furtherance of the conduct of a business, he or she is entitled to a partial deduction for the outgoings which relate to the use of the home for the work related activities. These include: – Heating –…  Read more

The IRD standard mileage rate for motor vehicles is now 77 cents per km. This rate applies to the 2012 income year. The standard mileage rate may not be acceptable where an employee’s business travel exceeds 5,000km. The reimbursement should be based on actual expenditure or a reasonable estimate of the expenditure likely to be incurred by the employee. One way to claim in Xero is to enter the mileage…  Read more