If your business provides sponsorship to an individual or organisation, it may be tax deductible. Sponsorship is different to ‘advertising’ or ‘donations’. It is defined as when the taxpayer incurring the expenditure expects that his/her business will be promoted in some way, whilst the sponsorship recipient will also be benefited in some way.
The IRD’s position is that for sponsorship to be tax deductible there must be a connection between the sponsorship expenditure and the business/income-earning activity. Businesses must be able to show that the sponsorship is likely to increase their taxable income. A sponsorship agreement clearly outlining the recipient’s intention and method of promoting the business is important in establishing the connection between sponsorship and any anticipated increase in taxable income. The sponsorship recipient does not necessarily have to be a registered charity or donee organisation in order for the expenditure to be tax deductible.
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Keeping your accounts and records up to date and ensure accutate reporting
Create, structure, and refine business plans for success
Monitor, optimize, and maintain healthy business cash flow
Set up, manage, and optimize cloud accounting systems
Help to ensure compliance, reduce tax liability, and optimize deductions
Can negotiate settlements, manage collections, and streamline payment processes
Can set up, manage, and optimize direct debit payments
Advise on contracts, disputes, rights, and legal compliance
Help guide budgeting, investments, and growth strategies for success.
Ensure accurate filing, compliance, and timely GST submissions
nsure accurate filing, compliance, and timely GST submissions
Assist by ensuring seamless digital tax reporting and compliance
Streamline payroll processing, ensuring accuracy and compliance
Optimize deductions, minimize liabilities, and ensure compliance efficiently
Assist with property registration, compliance, and documentation management
Identify eligible activities and maximize Research and Development tax credits
Can simplify, file, and optimize your IRD self-assessment
Can prepare, organize, and ensure compliance with sponsorship documentation
Can simplify, file accurately, and optimize self-assessment tax returns
Help optimize tax strategies, minimize liabilities, and maximize savings
Will provide support, representation, and resolve tax disputes efficiently
Will prepare, reconcile, and finalize financial statements accurately