Common Profit Mistakes
Sales are Not Profit The biggest mistake for start up business owners is assuming your sales are profit. Sales are what comes into the business, whereas profit is what is left over after all necessary… Read more
Sales are Not Profit The biggest mistake for start up business owners is assuming your sales are profit. Sales are what comes into the business, whereas profit is what is left over after all necessary… Read more
If you sell your family home and are lucky enough to make a good profit to help with the purchase of your next family home – don’t worry about it – if it’s all straight up and uncomplicated and the time factor is reasonable and you are doing what you say you are doing the IRD won’t be interested as the profits from the sale of a family home are generally not taxable. You will need to declare it on an IR3 – as an individual tax return and tell the IRD what you are doing and how all the figures are worked out.