Hello to all our clients,
It is already the month of May, almost marking the halfway point of the year with only seven months remaining until Christmas!
The past few weeks have been particularly challenging, with instability in the Middle East contributing to significant increases in petrol and diesel prices, as well as the recent cyclone that swept through the country.
We remain hopeful that conditions will soon stabilise and improve in the near future.
Welcome to the May 2026 update.
Information from the KTS office
Questionnaire 2026
We recently sent out our annual questionnaire, which is a required part of your end-of-financial-year documentation.
This helps us ensure we have everything we need to complete your tax returns efficiently.
If you didn’t receive the email or haven’t had a chance to save the file, you can download a fresh copy here:
Download the 2026 Questionnaire
Tax Due on the 7th May 2026
- 3rd provisional Tax for 2026
- GST for the period ending April 2026
It’s a good idea to schedule this payment to avoid late payment
Other updates of interest to clients
Roundup of Tax changes in 2026
Make sure you are aware of changes to tax that have occurred in 2026.
These include KiwiSaver and fringe benefit tax, as well as the benefits of Investment Boost.
There are also free tax seminars from Inland Revenue, which cover the essential tax basics that every business owner should know to stay on top of their obligations.
Is cash important to your business?
If you are a business with customers who pay with cash, you have a cash float or you deposit cash takings, the Reserve Bank of New Zealand wants to hear from you.
The Reserve Bank of New Zealand is proposing that banks provide a minimum level of cash services so businesses, community groups and people can withdraw cash, deposit cash, and get change free-of-charge close to where they live.
Winding up a family trust?
If you’re winding up your family trust, which some people are doing as a result of the top tax rate changing to 39%, be careful if your trust owns shares in your own company.
When there is a change in shareholding in a company, such as from the family trust to you, if the number of shares being transferred exceeds 34% of the total shareholding of the company, imputation credits are forfeited.
Minimum wage increase from 1 April 2026
Are you up to date on the minimum wage increase from the 1st April.
Ensure that you are paying your employees the correct rate from this month forward.
Trend moves back towards physical stores
Our retailer clients might like to take note of a trend back towards physical stores in many other countries. There is no reason to believe that this trend will not filter down to New Zealand.
Online shopping has clearly resulted in the closure of many high street and other stores during the past decade, but UK property consultants Knight Frank suggest retailers are investing back into physical stores.
Learn to say No to unprofitable work
One of the hardest skills to learn in business is how to say no to work, especially when it’s being offered.
But saying yes to unprofitable work quietly costs you time, energy and money.
