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#687509
Anonymous
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Antoine, if NZ is similar to Australia then whilst the corporate tax is low, the personal tax rates are nearly the highest in the world. Every dollar over $63K sees 42 cents go to the government and every dollar over $95K sees 47 cents go to the government. Plus the medicare levy and you get to keep even less. Incorporating usually results in a benefit but sometimes it’s only a timing thing as eventually the income ends up being shown at a personal level and tax is paid. Because of my other work, I look at it as in insurance policy because it removes the personal liability to a certain extent although there are still situations where directors a liable.

Paul, you forgot to add CEO and Founder as one of your titles. I’m that, a director, secretary and shareholder as well. Means stuff all really but what the heck, people don’t need to know it is a $2 company…

As for advice, consult an accountant. I’m an accountant (but not tax etc) and use a mate to do all my work. There’s no way I could or want to keep up to date with tax and corporate law.