HK Accounting Services

03/07/2026

🚗 Actual Cost vs IRD Kilometre Rate – Are You Claiming the Right Method?

Many New Zealand business owners and Uber drivers don't realise that choosing the right vehicle expense method can make a significant difference to their tax deduction.

✅ Actual Cost Method

- Claim a business percentage of your actual vehicle costs.
- Includes fuel, insurance, registration, repairs, servicing, tyres, depreciation, finance costs (where applicable), and more.
- Best suited for vehicles with high running costs or high business use.

✅ IRD Kilometre Rate Method

- Simply keep a logbook and claim the applicable IRD kilometre rate.
- No need to keep every fuel or repair receipt.
- Often a great option for lower-cost vehicles or businesses with moderate business travel.

💡 Which method gives you the bigger deduction?

The answer is different for every business. We've completed many assessments where switching methods has legally increased our clients' tax deductions.

At HK Accounting Services, we'll compare both methods (where eligible) and recommend the option that works best for your situation—so you don't pay more tax than necessary.

📞 Get in touch today for a professional assessment and make sure you're claiming every dollar you're entitled to.

📍 Serving clients throughout New Zealand.
💼 HK Accounting Services – Helping You Keep More of What You Earn.

HK Accounting Services

30/06/2026

🏠 "It's only one receipt..."

That's what he thought.

A few months later, tax time arrived... and those missing receipts became a real problem.

This short story is a reminder that good record keeping starts the day you buy your rental property.

Small habits today can save a lot of stress tomorrow.

📞 HK Accounting Services
022 320 1055

What was the biggest lesson you learned after buying your first rental property?

👇 Tell us in the comments.
















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28/06/2026

17/06/2026

🚨 INSURANCE ADVISERS: ARE YOU CLAIMING TOO MUCH GST? 🚨

One of the most common GST mistakes we see is claiming 100% of GST on business expenses when earning a mix of:

✅ Taxable income (advice fees, consulting fees)
❌ Exempt income (insurance commissions)

Many advisers believe they can claim all GST on expenses such as:
📱 Phone bills
🚗 Vehicle costs
💻 Software subscriptions
🏢 Office expenses

However, GST apportionment rules may require you to claim only the portion relating to your taxable activities.

Getting this wrong can result in:
⚠️ GST reassessments
⚠️ Interest and penalties
⚠️ Unexpected IRD reviews

Every business is different, and the correct treatment depends on your income mix and the nature of your expenses.

Not sure if your GST claims are correct? We're happy to review your situation and provide guidance.

📞 HK Accounting Services
📧 Contact us today for professional advice.

15/05/2026

Using your personal car for business? 🚗

You could be missing out on valuable tax deductions.

From fuel and servicing to insurance and mileage expenses, keeping a proper logbook can help maximise your claim and keep you IRD compliant.

Small records today can mean bigger savings tomorrow 💰

Need help with your business taxes?
HK Accounting Services is here to help.



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14/05/2026

13/05/2026