Accountant / Bookkeeper

Tax guide for New Zealand self-employed accountants and bookkeepers

Allowable Expenses

• Accounting software — Xero, MYOB, QuickBooks, Reckon subscriptions
• Professional memberships — CAANZ, CPA Australia (if relevant), NZICA
• Professional indemnity insurance — Essential for all accounting professionals
• Continuing education — CPD courses, tax updates, professional development
• Home office / practice — Office costs at business proportion

Tax Tips

• CAANZ membership and CPD requirements are fully deductible
• Professional indemnity insurance premiums are a critical deductible expense
• Accounting software for client work is 100% deductible
• Client file storage and cloud backup solutions (for client records) are deductible business costs

Frequently Asked Questions

Can NZ accountants claim their own accounting fees?

Accountants generally handle their own returns. You can claim tax agent fees if you use another professional. Your own time preparing your return is not deductible, but all costs of running your practice are.

Are CAANZ membership fees deductible for NZ accountants?

Yes. Annual CAANZ (Chartered Accountants Australia New Zealand) membership fees are a deductible professional subscription for self-employed accountants and bookkeepers.

Can I claim professional indemnity insurance as an accountant?

Yes. Professional indemnity insurance protecting you from client claims arising from your accounting or tax advice is a fully deductible business expense. Most professional bodies require it as a condition of practice.

How do NZ accountants treat software like Xero as an expense?

Xero, MYOB, QuickBooks, and similar accounting software subscriptions are fully deductible business expenses in the year they are charged. If you use separate licences for client work versus your own administration, both are deductible.