Celebrate the season smartly—check our quick tips on deductibility for parties and gifts so your holiday cheer doesn’t come with a tax surprise!

• Christmas parties: Christmas parties for your employees are generally only 50% deductible for income tax purposes.
• Client functions: Will depend on the purpose of the function. If the function is for business/education this will be 100% deductible, if the function is for enjoyment this will be 50% deductible.
• Staff gifts: Gifts under $300 per quarter per employee (up to $22,500 total per year) are usually exempt from FBT; anything above that threshold could trigger FBT.
• Customer gifts: Generally 100% deductible, unless it is food, drink, or vouchers for dining which will only be 50% deductible.
• Plan ahead: Review thresholds and deductibility rules to avoid unexpected tax costs.

While we are talking Christmas parties, how about one of these: light, bubbly, and perfect for toasting.

Ingredients:

• 30ml pomegranate juice
• 15ml orange liqueur (e.g., Cointreau)
• Prosecco (to top up)
• Pomegranate seeds for garnish

Instructions:

1. Pour juice and liqueur into a flute.
2. Top with chilled Prosecco.
3. Drop in a few pomegranate seeds.

They are bad, be warned…

Why did Santa get in trouble with the tax man?
He missed the deadline on his elf-assessment.

Where do elves hedge their bets?
On the stocking exchange.

How does Santa’s accountant value his sleigh?
Net Present Value.

Why did Santa hire an accountant?
Because he wanted to make sure his sleigh was fully depreciated before year-end!

Why did the snowman hire a tax accountant?
To avoid a meltdown at year-end.

This year we will once again be supporting Auckland Families in need by collecting donations for the Auckland City Mission Auckland Angels appeal. 

If you would like to support the cause you can donate via the link below or by dropping off gifts or non-perishable food to our office at Level 14, 88 Shortland Street, Auckland CBD

 If you have any queries, phone our office on 968-4440 and speak with Ariki or Kathryn

Now for the boring stuff. These are the most common deadlines for small/medium employers (monthly PAYE) and GST filers. Actual dates can vary by filing frequency and balance date — check myIR or contact us if unsure.

5 Dec

• Employer deductions payment due for 16 to 30 November for large employers.

22 Dec

• Employer deductions payment due for 1 to 15 December for large employers.
• Employer deductions payment due for November for small to medium employers.

15 Jan

• Your GST return and payment is due for the taxable period ending 30 November.
• Employer deductions payment due for 16 to 31 December for large employers.
• Interim student loan repayments are due. They count towards your end-of-year repayment obligation.
• AIM instalments are due if you have a March balance date.
• Provisional tax payments are due if you have a March balance date and use the standard, estimation or ratio options.

20 Jan

• Your FBT quarterly return and payment are due for the period ending 31 December if you have a March balance date.
• Employer deductions payment due for December for small to medium employers.
• Employer deductions payment due for 1 to 15 January for large employers.

28 Jan

• Your GST return and payment is due for the taxable period ending 31 December.
• AIM instalments are due if you file GST monthly and have a March balance date.

Make sure to plan for your tax obligations in your monthly cash flow forecasting. Reach out to your Walker Wayland Accountant if you need to review your forecast and look at options.

For the full list of key dates click on the button below.

Auckland’s business activity has remained broadly steady over the past month, with signs of both resilience and caution as we approach the end of the year:

• Business confidence remained strong: NZIER’s Quarterly Survey shows a net +31% of Auckland businesses expect an improved general situation over the next three months, one of the highest readings outside pre-Covid periods.
• Employment remains a weakness, with the unemployment rate steady at around 6.1% in the September quarter—double its 2021 low—and annual employment down –1.7%, marking five consecutive quarters of decline.
• Housing and construction are stabilising: the median house price held at approximately NZ$978,000 (real terms), about 37% below the 2021 peak. Residential consenting is trending up, with 14,760 dwellings consented over the year to September—consistent with modest recovery.
• Trade and retail trends are mixed: retail spending growth remains slightly negative, while Auckland seaport import volumes rose by 4.6% year-on-year to $31.6 billion—though still down from early-2023 peaks.

National Monetary Policy Update

The Reserve Bank has cut the Official Cash Rate by 25 bps to 2.25% as of 26 November, following the earlier 50 bp reduction. This move reinforces the easing cycle aimed at supporting growth. ANZ economists describe a “spring thaw”—momentum remains patchy, but signs of a lending- and demand-led pickup are emerging. Markets now expect this to be the final cut in the current cycle, with policy shifting toward a hold stance in early 2026.

Overall: Auckland remains subdued but stable—business sentiment is strong, housing and construction are stabilising, and monetary policymakers are actively supporting a soft recovery. Over the coming months, expect a gentle rebound in investment and hiring, modest growth in consumer activity, and continued gradual improvement in construction and trade sectors.

Xero has expanded ‘Just Ask Xero’ (JAX) into an AI financial super‑agent. It unifies tasks in one interface, automates busy work like bank recs and data entry, and surfaces timely insights. For many clients this can save hours each month and improve accuracy. Here’s how we see it helping our Auckland SMEs:

• Faster answers: ask natural‑language questions (e.g., ‘Who owes me the most right now?’) and get a real‑time view.
• ‘Just done’ tasks: draft invoices, chase payments, and reconcile routine transactions faster (you approve before posting).
• Better cash decisions: proactive prompts on cash‑flow pinch points and overdue debtors.
• Check out the link below for more information: 

Inland revenue has released a new version of their guidance on what is and is not deductible in the world of repairs and maintenance. While most of the changes were to provide a more clear explanation of existing principles, they have clarified their position on a few issues that have become areas of contention since the old version was published in 2012.

The most significant of these issues was the deductibility of repairs to leaky buildings. Now the IRD has clarified their position on what they describe as inherent defects and provide that costs incurred in resolving these inherent defects are not deductible unless such works are minor. Essentially the cost of making that asset not defective is regarded as an improvement and so will need to be capitalized. Now that depreciation on buildings has been set to 0% the capitalization of such repairs come with an even bigger tax cost. All the more important to make sure those little leaks and cracks don’t become inherent defects.

If you are in need of an easy cure for insomnia you can find the IRD’s full exposure document via the link below.

November 10 marked International Accountants Day, a small but meaningful occasion that recognises the work accountants do to help keep businesses running smoothly and finances on track. The date has a bit of history behind it — it commemorates the publication of the first book on double-entry bookkeeping by Luca Pacioli back in 1494, which laid the foundations for modern accounting.

While things have come a long way since ledgers and ink, the heart of accounting hasn’t changed much — it’s still about accuracy, trust, and helping people make informed financial decisions. We’re proud to play our part in that, supporting our clients and communities with clarity and confidence every day.

P O Box 2175 Auckland 1140

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