Five new ways to do it. If you normally write a cheque to pay for your taxes, it’s time to decide how you will pay in the future. As of 1 March 2020, Inland Revenue will no longer be accepting cheques. By the end of the last financial year (June 2019), only around 5% of…
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R&D – is it for me?
Are you looking to take your business to the next level? Introduce new revenue streams? Dig deeper into the science or technology …
Five simple ways to finish the year
Is less stress at the top of your Christmas list? For the sake of your sanity and the best interests of your business, follow these steps to remain calm and collected as the year comes to a close. Outsource! Look at everything you need to do before 25 December. Is it doable without losing the…
Getting holiday pay right
Do you have staff taking leave over Christmas? Are systems in place to make sure everyone gets what they’re entitled to? Even if someone else handles your payroll, you are responsible for making sure holiday pay and leave payments are handled correctly. Remember: Whether your staff work full-time, part-time, casual, on-call, or shift work, they’re…
New Trusts Act 2019:
What you need to do If you’re protecting your family property in a trust, there may be changes you need to make before the new Trusts Act comes into force in January 2021. The changes to the Trusts Act (the first in more than 60 years!) aim to make trust law more efficient and accessible,…
New GST on low-value imported goods
Overseas businesses selling goods valued at $1,000 or less online to New Zealanders are now required to register for, collect …
Business health check
Cash flow is essential at this time of year, so if chasing late payments makes you feel uncomfortable, outsource those phone calls …
How to Advertise for your Business
Here are some basic guidelines to follow when doing advertising. Writing the advertisement Advertising is only one of many ways to market your business. It is probably the most expensive and often the least effective. You do not need to advertise to make your business grow. The Body Shop is said to have never…
Why closing the gender pay gap is good for business
On average, Kiwi women earn 9.2% less than men While the gender pay gap is smaller than a decade ago, a collection of top New Zealand business people are working hard to reduce it further. CEOs and Chairs from companies such as IBM, Saatchi and Saatchi, PwC and Vector have joined Champions for Change. Together,…
Work. Sleep. Eat. Repeat?
Find a better balance with these helpful hacks Working harder is not always smarter. Burnout is common among business owners and staff who are pushed to the limits. Ultimately, it’s not good for business or your personal life to be burning the candle at both ends. But how on earth are you expected to fit…
The busy person’s guide to stress-free performance reviews
How well are your staff performing? Do they love their job? Performance reviews, an open two-way conversation held once or twice a year, are a great way to find out. While you’re not legally bound to do appraisals, they’re a great tool to keep your business running smoothly. Open communication lines earlyWhether you have five…
Property sales on IRD radar
Buying or selling a home? You’ll now need to provide your IRD number as part of the transaction process. The change will allow IRD to know who’s flipping owner-occupier homes on a regular basis, and better enforce the existing law that ensures people pay tax on the profit. The move won’t impact the rules…
Business health check
Get familiar with the flexible work legislation and take ideas from the Flexible Tool Kit. Take a good look at your business metrics and cash flow and if things aren’t looking as flash as you’d like, or expected, give your accountant a call for advice. Check out the Headspace app for short, easy meditations on…
What is your business doing to attract the next generation?
Gen Z (born after 1995) are tech-savvy, entrepreneurial, out-of-the-box thinkers – people you want on your team. Here are …
Facebook: Why your business needs it
Are your ideal customers adults? Then your business needs to be on Facebook because that’s where their eyeballs are. Time-poor …
Today’s apprentice is tomorrow’s foreman
Why apprenticeships work so well With New Zealand’s construction industry going ballistic, a lot of construction companies …
Own residential property? Take note!
In an effort to level the playing field between property investors and home buyers, a new law ring-fencing rental losses looks set to come into effect on 1 April 2019. It means you’ll no longer be able to offset tax losses from your residential properties against other income (e.g. salary or wages, or business income).…
April Tax News
ACC and Student Loan rate changes from 1 April: The Student Loan Scheme annual repayment threshold increases …
Get ready for the end of the tax year!
While sorting your end of year tax paperwork sounds about as fun as spilling coffee on your keyboard, once it is done, it’s done – and now’s the time. With not long until year end, we encourage you to spend a few minutes this week reading our top tax tips plus the latest changes you…
10 smart year-end tax tips
Fill your drawers: Can you stock up on stationery, postage and courier bags before 31 March? Claim now and save. Staff expenses: If you owe employees holiday pay, bonuses, long service leave or redundancy payments, you can claim for these now – as long as they are paid within 63 days of the balance date…
What’s new in the world of tax?
Payday filing We have mentioned this in the past, but don’t forget payday filing for employers is compulsory from 1 April 2019. Please contact us if you need any help with complying with the new process and rules. No more cheques for IRD Do you send post-dated cheques for tax payments? It’s time to go…