Changes to tax rules for Contractors effective 1 April 2017

From 1 April 2017, payments made to contractors who are subject to the schedular payment rules are required to have withholding tax deducted at the relevant rate by the payer. This includes payments made to all contractors that work for a labour-hire firm who may have previously been eligible to receive exemption certificates from withholding tax. The contractor is required to advise the payer of the relevant rate of withholding tax and these payments must now be included on the Employer Monthly Schedule (even if a 0% rate of withholding applies). Please contact the Inland Revenue HelpDesk if you think you are affected by these changes and/or have contractors who will need to be added to you

Downer acquires Hawkins businesses in New Zealand

Downer EDI Limited (Downer) announced on 8 March that it had signed an agreement to acquire the construction, infrastructure and project management businesses of Hawkins, a New Zealand company, from the McConnell Family. The Chief Executive of Downer, Grant Fenn, said Hawkins was an excellent strategic fit for Downer’s New Zealand business. “Downer has a long and proud history in New Zealand that can be traced back more than a century,” Mr Fenn said. “Today we are a leading provider of services to our customers in a range of markets including transport, telecommunications and water. “Hawkins is a New Zealand industry leader in construction and infrastructure and this acquisition will complem

© 2020 BY TRADEWORX

info@tradeworx.co.nz  |   CNR Wordsworth & Durhams St South, Christchurch  |

  • Black LinkedIn Icon
  • Facebook Basic Black
  • Twitter Basic Black