Fringe benefits cover most of the benefits you give to employees in addition to their salary or wages.

In general, independent IT contractors and sub-contractors are self-employed people who control what work they do and how it's done.

A tax record includes any information or document about sales, income, and expenses, assets and liabilities.

The partnership is not taxed in its own right because the profits made are distributed to the partners. The partners then pay tax on those profits in their own name.

You are probably operating a business if you charge other people for the goods that you have made or the services that you provide.

The Inland Revenue Department Act gives the Commissioner and officers of the department very wide powers, enabling them to obtain all the necessary information for the administration of the Tax Act.

Here are some of the situations that can “red flag” for an investigation of your tax affairs

The tax on a trust's trustee income is calculated at a flat rate of 33 cents in the dollar for all three different types of trust.

A sole trader usually has no formal or legal processes to set up the business. The owner/manager is personally entitled to all profits, but is also personally liable for all business taxes and debts.

Prior to 29 March 2018, the bright-line rule only applied to residential properties bought on or after 1 October 2015.