IRD is getting a fancy new billion dollar plus computer system called START to replace its old system FIRST. A billion dollars is a lot of money, and to get that IRD had to promise government that START would pay for itself with organisational and staffing efficiencies, as well as compliance cost saving for taxpayers.…
The temptation for small business owners to pocket a portion of cash takings and not declare them to IRD has existed as long as income tax has existed. Many business owners do give into temptation and skim off some cash to either use for private living, to pay for business expenses, or to squirrel away…
Why am I being audited by IRD – and why does it matter? Most people react to news of an IRD audit as they would to a dentist telling them they need to have a tooth removed. While the initial dread is the same, a tooth extraction can be over in minutes, whereas an IRD…