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News • 2023-04-20


2023 Tax year

It's been a busy start to the 2023 tax year with a number of clients already bringing in this year's work.

The team are starting to send out their annual checklists, however if you haven't yet received yours and want to organise your 2023 info you can access the checklists here 

What we are doing to increase security around email phishing? 

We have found our team are receiving more and more phishing emails where criminals are masquerading as legitimate businesses and trying to acquire sensitive data, such as bank account numbers.

We outsource our IT support to Scottronic who are running basic security training for us.

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Interest rate changes

The Inland Revenue Use of Money interest rates are increasing, effective 9 May 2023, as follows:
  • Taxpayer's paying rate increases from 9.21% to 10.39%
  • CIR's paying rate increases from 2.31% to 3.53%

Income tax (Fringe Benefit Tax, Interest on Loans), effective 1 April 2023:

  • Increased FBT prescribed interest rate for low interest loans, from 6.71% to 7.89%
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