Tradie loyalty rewards are taxable: IRD

Tradie loyalty rewards are taxable: IRD
A tax expert says she's even heard of tradies being given jet skis as a reward. (Image: Supplied)
Maria Slade
Tradies receiving loyalty rewards like barbecues and fishing tackle from building products merchants must pay tax on them, the Inland Revenue Department has told the sector.Submissions close on Wednesday on an Inland Revenue Department (IRD) discussion document about the tax treatment of gift cards and trade rebates.Trade rebates in the form of products are income and therefore tax is payable on their realisable (secondhand) value, IRD said.ConfusionMany building products merchants offered tradespeople incentive schemes where once they earned a...

More Property

AWS taps Generator for return to office overflow space
Property

AWS taps Generator for return to office overflow space

The Amazon company is leasing a floor from co-working firm Generator next year.

Ben Moore 16 Dec 2024
More Du Val shareholders suing
Property

More Du Val shareholders suing

A Du Val shareholder action against FMA now has 80% of minority shareholders signed up.

Garth Bray 16 Dec 2024
Triple Connection faces liquidation
Property

Triple Connection faces liquidation

The debt collector says the company "don't pay their bills".

Gregor Thompson 13 Dec 2024
Beachlands South development appeals settled
Property

Beachlands South development appeals settled

Appeals challenging the approval of a plan change for the Beachlands South development have been settled, paving the way for the multi-billion dollar project to proceed.“The success of negotiating a sensible outcome means that the development process can now move forward with the...

Staff reporters 11 Dec 2024