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Claiming Private Expenditure Despite the IRD!

Are you a business owner trading via a limited company? Did you know that you can legitimately claim for private goods and services paid for by your company?

Yes you can, and it doesn’t matter what you claim - flights, a hotel bill, a present for your kids (or yourself), a new outfit - they’ll all OK. One small catch, the amount you spend cannot exceed $300 per quarter per owner - the exemption is not deducted first.

Do bear in mind that  the threshold is $300 per quarter per employee or $22,500 per employer over the last 4 quarters for all employees. Further, the de-minimis threshold applies across all associated entities and not on an entity-by-entity basis.

OK, it’s not a huge amount, but it all helps in these tough times right? And why pay them a cent more than you need to to I say? 

If you need help with your taxes contact Nick on 021 225 6425 or email