Blog

Less interest on employee loans 11 Nov 2020 - Less interest on employee loans

Inland Revenue has reduced the amount of interest you need to charge an employee, if you give them a loan.

More
‘Sell your bill’ with information 11 Nov 2020 - ‘Sell your bill’ with information

It’s tough in retailing at present, but retailers have an advantage over trades people – they set the price and get paid immediately.
More
Change in working from home rules 11 Nov 2020 - Change in working from home rules

Inland Revenue has issued a statement, Determination EE002, setting out the payments it would approve as tax-deductible for an employer who pays an employee for the use of their home as a workplace.

More
BRIEFLY 11 Nov 2020 - BRIEFLY
More
New rules around feasibility expenditure 11 Nov 2020 - New rules around feasibility expenditure

The Government is bringing in some new rules about claiming feasibility expenditure.
More
Don’t forget January tax date 11 Nov 2020 - Don’t forget January tax date

Every year we seem to have a client or two who goes on holiday and forgets to pay their tax.
More
Changing use of car brings GST trap 11 Nov 2020 - Changing use of car brings GST trap

Suppose you buy an expensive car for your business and you estimate 75 percent of the use will be for business and 25 percent will be private.
More
Be realistic with social media expectations 11 Nov 2020 - Be realistic with social media expectations

You’re starting out in business, or maybe you’ve been in business a while but everyone is saying you need to have a social media presence.
More
CONTROL DIRECT DEBITS 11 Nov 2020 - CONTROL DIRECT DEBITS

Don’t you love it when a supplier is so important it demands you provide details of your bank account so it can direct debit it.
More
Don’t let your fish off the hook 11 Nov 2020 - Don’t let your fish off the hook

The lifeblood of businesses is sales. Every extra dollar you make after you have paid for the running costs of the business is profit.
More
Be cheeky and seek out the best 11 Nov 2020 - Be cheeky and seek out the best
More
Get meeting notes as they happen 11 Nov 2020 - Get meeting notes as they happen

The use of Zoom and other online meeting platforms during the Covid-19 lockdown has spawned many innovations as companies scramble to change their work practices.
More
TAX CALENDAR 11 Nov 2020 - TAX CALENDAR
More
Support extended 16 Jul 2020 - Support extended If your business has been affected by Covid-19, the time to apply for a government loan has been extended.
More
Self-employed – how much can you earn 16 Jul 2020 - Self-employed – how much can you earn Self-employed people will never make a fortune because their income is limited by the number of hours they can work.
More
Rent for employee’s home 16 Jul 2020 - Rent for employee’s home You may wish to compensate an employee who has been using their home to help run your business during the Covid-19 lockdown.
More
IRD - interest certificates and cheques now gone 16 Jul 2020 - IRD - interest certificates and cheques now gone From 1 April 2020, banks have not been required to provide their customers with year-end interest certificates.
More
Business cards with impact 16 Jul 2020 - Business cards with impact You know you should never go anywhere without business cards, but are they having the impact you want?
More
Not much charity for Healthy Homes measures 16 Jul 2020 - Not much charity for Healthy Homes measures If you are a landlord or landlady and have to take measures to comply with “Healthy Homes”, there’s not much charity.
More
Tip for saving time 16 Jul 2020 - Tip for saving time
More
WFH is the new work environment 16 Jul 2020 - WFH is the new work environment If there’s one thing the Covid-19 crisis has taught us, it’s that many of us can work from home.
More
Scanning from a cell phone 16 Jul 2020 - Scanning from a cell phone The cameras in most cell phones make pretty good scanners.
More
Tax rules relaxed for Covid-19 16 Jul 2020 - Tax rules relaxed for Covid-19 Some of the tax rules have been relaxed to help people cope with Covid-19.
More
BRIEFLY 16 Jul 2020 - BRIEFLY
More
How valuable is your time? 16 Jul 2020 - How valuable is your time? It’s a fair question for business people, but what your time is worth becomes especially relevant when we spend our (paid) time working on something an expert could do in less time – and more effectively.
More
The password work-around 16 Jul 2020 - The password work-around Yes, you can manage secure passwords without having to write them down, or remember them. It seems every transaction or subscription online requires a password, and everyone says you should never use the same one all the time.
More
Good citizen gets business 16 Jul 2020 - Good citizen gets business
More
TAX CALENDAR 16 Jul 2020 - TAX CALENDAR
More
Time to collect debts 01 May 2020 - Time to collect debts Don’t let bad debts squeeze your wallet. We all have a lot of sympathy for the many businesses destroyed by the Draconian measures taken to stamp out Covid-19 from New Zealand.
More
Wage subsidy is not part of sales 01 May 2020 - Wage subsidy is not part of sales If you’ve received a wage subsidy, don’t treat it as being part of sales.
More
Confidentiality clauses 01 May 2020 - Confidentiality clauses Do we sign confidentiality clauses a little too readily?
More
Tax changes worth noting 01 May 2020 - Tax changes worth noting There have been several tax changes recently. Some of the important ones are listed here:
More
New telco rules for business, private use 01 May 2020 - New telco rules for business, private use Inland Revenue has come up with some new rules on telecommunications.
More
Find an excuse to spend again 01 May 2020 - Find an excuse to spend again Support local businesses, and ditch the loyalty card. Kick-starting the economy – what a cliché! Here are some thoughts about ways we can all help:
More
Dire implications for late tax payments 01 May 2020 - Dire implications for late tax payments If you pay your tax one day late you come out of what is called the Safe Harbour scheme.
More
Keep in touch with customers 01 May 2020 - Keep in touch with customers In our last newsletter we warned you to prepare for a change of business environment. It’s come on quicker than expected.
More
Offer guarantees with confidence 01 May 2020 - Offer guarantees with confidence If you are going to give a guarantee, make it worthwhile and real. No vague statements.
More
Trouble paying tax? 01 May 2020 - Trouble paying tax? Inland Revenue has announced it will write off penalties and interest for those who can’t pay their tax on time due to Covid-19.
More
CRS explained 01 May 2020 - CRS explained You might have been contacted by your bank to fill in a form enquiring about your CRS status. In simple terms, CRS stands for Common Reporting Standard.
More
Buying real estate 01 May 2020 - Buying real estate Not all property is insurable, particularly in areas seen as at high risk of earthquake.
More
Do what you’re good at 01 May 2020 - Do what you’re good at If you know someone who is starting in business, you might wish to pass on this message.
More
Binding rulings for small businesses 01 May 2020 - Binding rulings for small businesses Inland Revenue has recognised the system of binding rulings doesn’t work for small businesses because it’s too expensive.
More
A lesson in more listening, less talking 01 May 2020 - A lesson in more listening, less talking A travel agency had given excellent service until one of the agents messed up badly.
More
TAX CALENDAR 01 May 2020 - TAX CALENDAR Important Dates for 2020.
More
If you cannot pay your tax 01 May 2020 - If you cannot pay your tax Tax law is changing very rapidly at the moment. Since we completed the newsletter more information has been made available about overdue tax payments. If you cannot pay your tax, please read this message received from the Inland Revenue Department.
More
No more cheques for IRD 13 Nov 2019 - No more cheques for IRD IRD will not be accepting cheques from 1 March 2020. If you prefer to use cheques, start preparing to change the way you pay your tax.
More
Some interest rates are going up 13 Nov 2019 - Some interest rates are going up If you underpay your tax you will be charged 8.35% (was 8.22%) interest compounding monthly. This new rate was introduced on 29 August 2019.
More
Get tax right in first year of business 13 Nov 2019 - Get tax right in first year of business Be careful if you are expecting a taxable income in excess of $200,000 in your first year in business.
More
Slash the phone bill with VoIP 13 Nov 2019 - Slash the phone bill with VoIP VoIP offers benefits not available on the normal telephone system. One of them is an ability to convert a message to an email. If you check your messages regularly during the day, this can be very handy.
More
Crypto wages under IRD spotlight 13 Nov 2019 - Crypto wages under IRD spotlight Inland Revenue has outlined its position on wages paid in cryptocurrency.
More
BRIEFLY 13 Nov 2019 - BRIEFLY
More
Business lessons from the world of sport 13 Nov 2019 - Business lessons from the world of sport England cricketer Stuart Broad, who sought a mentor in Sir Richard Hadlee and found renewed success.
More
Boost wifi for better performance 13 Nov 2019 - Boost wifi for better performance Poor wifi connections in parts of your home or office can be incredibly frustrating.
More
Debt forgiveness 13 Nov 2019 - Debt forgiveness
More
GST trap for Air B&Bs 13 Nov 2019 - GST trap for Air B&Bs Be careful if you have an Air B&B and have to register for GST.
More
Overseas suppliers 13 Nov 2019 - Overseas suppliers If you deal with overseas suppliers, be sure to let them know you are GST registered before GST on low value imports comes into effect on 1 December 2019.
More
TAX CALENDAR 13 Nov 2019 - TAX CALENDAR
More
KiwiSaver injustice 04 Sep 2019 - KiwiSaver injustice As you will have noticed, Inland Revenue has discovered a large number of people contributing to KiwiSaver have been using a tax rate which is too low.
More
The cost of boarders 04 Sep 2019 - The cost of boarders Up to 31 March 2019, if you took in boarders you could use a standard cost to save having to keep records of your actual costs.
More
A case of a nice surprise for customers 04 Sep 2019 - A case of a nice surprise for customers A customer recently took a suitcase to a shoe repairer to fix a small tear in the corner and on the outside of a much-loved suitcase.
More
Convert a complainer into a friend 04 Sep 2019 - Convert a complainer into a friend Don’t you hate it when someone complains? The natural reaction is to defend yourself.
More
Track those emails 04 Sep 2019 - Track those emails Sometimes, when you visit a website, you’re asked to fill in a form, part of which includes the message you want to send.
More
Credit card payments that keep on taking 04 Sep 2019 - Credit card payments that keep on taking A number of organisations selling online get you to put in your credit card details for payments and then bill you when your subscription expires.
More
Stand out by doing things differently 04 Sep 2019 - Stand out by doing things differently We keep stressing in our newsletters the importance of being different from your competitors.
More
Banks are losing out 04 Sep 2019 - Banks are losing out It’s almost certain one of the major banks is missing out on large amounts of investment money.
More
BRIEFLY 04 Sep 2019 - BRIEFLY
More
Save for later with easy screenshots 04 Sep 2019 - Save for later with easy screenshots You’ve got something on your screen and you want to share it or save it for later. So grab a screenshot.
More
Monitoring the jobs 04 Sep 2019 - Monitoring the jobs XYZ Limited prepared a costing after every job was completed.
More
Changing the direction of your business? 04 Sep 2019 - Changing the direction of your business? Businesses need to be careful about changing direction.
More
TAX CALENDAR 04 Sep 2019 - TAX CALENDAR
More
Losses from rental properties 19 Jun 2019 - Losses from rental properties The following is the proposed tax law, which has yet to be enacted. Some of it could be changed.
More
Take care with tax when winding up your business 19 Jun 2019 - Take care with tax when winding up your business If you’re considering selling your business and you run it through a company, you could have a tax problem.
More
Facebook can kill your job 19 Jun 2019 - Facebook can kill your job Facebook is a marvellous way to let off steam to your friends and tell them what you really think.
More
Newsletters get customers 19 Jun 2019 - Newsletters get customers Use newsletters to get more customers
More
More to Tax Working Group than meets the eye 19 Jun 2019 - More to Tax Working Group than meets the eye You might be forgiven for thinking, as a result of all the media attention, the only thing the Tax Working Group ever did was to make recommendations about a Capital Gains Tax.
More
Check on ACC 19 Jun 2019 - Check on ACC Always check ACC invoices. Sometimes they record your occupation incorrectly.
More
Get it right and save money when winding up 19 Jun 2019 - Get it right and save money when winding up If you are winding up your business and you’re on a payments basis, save GST by paying as many bills as possible before you deregister.
More
Help your accountant, and yourself 19 Jun 2019 - Help your accountant, and yourself Here are some of the problems we strike when preparing your annual accounts and what you can do to help us:
More
BRIEFLY 19 Jun 2019 - BRIEFLY
More
Put transactions through one business account 19 Jun 2019 - Put transactions through one business account To minimise the risk of error, put all your business transactions, which should include expenses paid out of your own pocket, through one business bank account.
More
DIY’ers risk losing out on tax credits 19 Jun 2019 - DIY’ers risk losing out on tax credits Do-it-yourselfers need to be very careful when it comes to tax.
More
Don’t make customers hit the red button 19 Jun 2019 - Don’t make customers hit the red button Chris said he was pleased with the attention at his doctors’ surgery. Soon after, he was asked to complete a survey, which was to take only 10 or 15 minutes.
More
TAX CALENDAR 19 Jun 2019 - TAX CALENDAR
More
Get end-of-year right 20 Feb 2019 - Get end-of-year right IF YOU want to write off a bad debt and claim your loss in the current year, you must do this before your business balance date.
More
Use of Money Interest and provisional tax 20 Feb 2019 - Use of Money Interest and provisional tax Provided you pay provisional tax on what is called the standard basis (based on 5% increase over last year) there is no liability for Use of Money Interest for the first and second provisional tax instalments.
More
Tax Tips, Traps & Troubles - Turn rental loss into profit and save tax 20 Feb 2019 - Tax Tips, Traps & Troubles - Turn rental loss into profit and save tax As you will probably know, 31 March 2019 (or equivalent balance date) is the last year you will be able to offset losses on rental properties against other income.
More
Payday filing starts 1 April 20 Feb 2019 - Payday filing starts 1 April Are you ready to implement the new rules about when you are required to file your PAYE figures?
More
‘AMAZON’ TAX PROPOSED 20 Feb 2019 - ‘AMAZON’ TAX PROPOSED As you probably know, Inland Revenue does not attempt to collect GST on low-cost imports (costing $1000 or less), because it’s uneconomical to do so.
More
Get in quick to get your invoices paid 20 Feb 2019 - Get in quick to get your invoices paid Cash flow is often a problem for small businesses. They could do a lot to improve it. Here are some suggestions about collecting bills:
More
Plan for Capital Gains Tax 20 Feb 2019 - Plan for Capital Gains Tax If Capital Gains Tax is introduced (and there is now some debate about this), all assets affected by the tax will have to be valued at the time the new tax starts.
More
BRIEFLY 20 Feb 2019 - BRIEFLY
More
Ensure donations above board 20 Feb 2019 - Ensure donations above board If you donate large sums to charity, you should check to ensure the entity is still approved by Inland Revenue. To find out, see: https://www.ird.govt.nz/donee-organisations/donee-complete-list.html
More
Charge-out calculator now off site 20 Feb 2019 - Charge-out calculator now off site
More
Can the spam with a new email address 20 Feb 2019 - Can the spam with a new email address Whenever you sign up to a subscription service or buy something online, it’s likely you’ll be put on a mailing list – whether you like it or not.
More
Think hard about passwords 20 Feb 2019 - Think hard about passwords Did you notice a recent newspaper report about a laptop which was unprotected by a password?
More
Retentions in trust accounts 20 Feb 2019 - Retentions in trust accounts If you have a significant amount of money owing to you in the form of retentions by a contracting entity, it would pay to get written confirmation the money has been set aside in a trust account.
More
TAX CALENDAR 20 Feb 2019 - TAX CALENDAR
More
Tool helps track KiwiSaver 15 Nov 2018 - Tool helps track KiwiSaver The authority has produced a tracker tool to help members compare and contrast fees and returns more easily. Just type “FMA KiwiSaver Tracker” into your search engine and you will get a wealth of information, provided yours is one of the many funds listed.
More
Five key features of KiwiSaver changes 15 Nov 2018 - Five key features of KiwiSaver changes The following changes to KiwiSaver are proposed to be effective from 1 April 2019.
More
Capital gains tax 15 Nov 2018 - Capital gains tax A capital gains tax before the end of this Government’s term is starting to look like a real possibility.
More
Make the most of internet banking 15 Nov 2018 - Make the most of internet banking Are you using internet banking yet? Devices such as BNZ’s Netguard are making it increasingly more difficult for anyone to hack into an account.
More
Modernising individual’s income tax 15 Nov 2018 - Modernising individual’s income tax Inland Revenue is proposing to get more involved with taxing individuals in the following ways.
More
Binding rulings for small businesses 15 Nov 2018 - Binding rulings for small businesses The current Tax Bill proposes to make it easier for small businesses to get binding rulings.
More
Are you making good use of your business cards? 15 Nov 2018 - Are you making good use of your business cards? Take every opportunity to hand out your business cards.
More
Noise remediation 15 Nov 2018 - Noise remediation The law is to be amended, effective for the 2019 tax year and subsequent years.
More
Be systematic when setting up a business 15 Nov 2018 - Be systematic when setting up a business You need a systematic approach if you are setting up a new business.
More
BRIEFLY 15 Nov 2018 - BRIEFLY
More
Train your email filter to block unwanted messages 15 Nov 2018 - Train your email filter to block unwanted messages Everyone gets spam these days. It's the stuff you really don’t want that sneaks into your email inbox or is filtered to another folder.
More
Tax on crypto-currencies 15 Nov 2018 - Tax on crypto-currencies Inland Revenue is giving a lot of thought to taxation issues, which affect crypto-currencies.
More
More on scammers 15 Nov 2018 - More on scammers Beware scammers posing as Inland Revenue.
More
How much should you be charging per hour? 15 Nov 2018 - How much should you be charging per hour? The Ministry of Business, Innovation and Employment has created a calculator which helps work out how much you should charge per hour to achieve your desired income.
More
TAX CALENDAR 15 Nov 2018 - TAX CALENDAR
More
Location the key to success 22 Aug 2018 - Location the key to success We’ve all heard the phrase “location, location, location”. It applies just as much to business location as it does to your home.
More
Another home business calculation 22 Aug 2018 - Another home business calculation There are now two ways of working out the use of home calculation.
More
Write attention-grabbing headlines 22 Aug 2018 - Write attention-grabbing headlines If you want an article noticed by your readers, make sure your headlines are well written. Along with images, headlines grab readers’ attention, so make sure they have impact.
More
Food businesses – do you need to register? 22 Aug 2018 - Food businesses – do you need to register? Most businesses serving food, in one way or another, were supposed to have registered under the Food Act before 31 March 2018.
More
Remember to say thank you 22 Aug 2018 - Remember to say thank you “The Malaghan Institute just rang to say thank you for our firm’s donation.” Have you ever known any other charity to do this?
More
New rules for PAYE 22 Aug 2018 - New rules for PAYE Say goodbye to filing your PAYE returns monthly (or twice a month for bigger organisations).
More
Payments for babies born or due from 1 July 22 Aug 2018 - Payments for babies born or due from 1 July From 1 July 2018 the Government started weekly payments of $60 per child, known as Best Start, until the child reaches the age of one.
More
Home business requires discipline 22 Aug 2018 - Home business requires discipline Running a home business has some great rewards, but it requires planning and discipline if it’s going to be successful.
More
Some thoughts about buying a car 22 Aug 2018 - Some thoughts about buying a car Buying a car is a big investment, so put some time into doing your homework.
More
Briefly 22 Aug 2018 - Briefly A going concern & Don’t use the back of a page
More
Get rid of email prompts – and keep working 22 Aug 2018 - Get rid of email prompts – and keep working We’ve talked in the past about emails distracting you from your important business. There’s always the temptation to check an email as soon as it lands.
More
Telling the NZ story 22 Aug 2018 - Telling the NZ story Tourism New Zealand, New Zealand Trade and Enterprise, and Education New Zealand have led the way in creating the group New Zealand Story.
More
Rental losses law change coming 22 Aug 2018 - Rental losses law change coming The law is to be changed regarding rental losses.
More
Regional fuel tax 22 Aug 2018 - Regional fuel tax A council can make a proposal to the Minister of Transport for establishing a regional fuel tax.
More
TAX CALENDAR 22 Aug 2018 - TAX CALENDAR
More
New rules for mileage 18 May 2018 - New rules for mileage If you are in the habit of claiming your vehicle running expenses based on your mileage, you will need to know the new rules.
More
Where is the scaffolding? 18 May 2018 - Where is the scaffolding? “You get this all the time with tradesmen.”
More
Beware direct debits 18 May 2018 - Beware direct debits Direct debits can be useful for ensuring you pay your bills on time. However, sometimes they work against you.
More
Interest on short-paid provisional tax 18 May 2018 - Interest on short-paid provisional tax Are you likely to pay more than $60,000 provisional tax per year? If yes, read on:
More
Employee Christmas gifts 18 May 2018 - Employee Christmas gifts Non-monetary gifts to employees are likely to be “unclassified fringe benefits”, or UFB, under tax law.
More
Holiday pay in advance 18 May 2018 - Holiday pay in advance From 1 April 2018 you are able to choose how you tax salaries or wages paid in advance.
More
Do you file FBT returns online? 18 May 2018 - Do you file FBT returns online? From July 2018 you need to file through myIR Secure Online Services. Register through myIR. Calculation worksheets will no longer be sent to you in the mail. They can be viewed online.
More
IRD refunds 18 May 2018 - IRD refunds If the IRD sends you money you’re not entitled to, don’t just assume it’s right.
More
Accounting for dividend income 18 May 2018 - Accounting for dividend income Some clients have difficulty in providing us with details of their income from dividends. Sometimes they get payment advice notes in the mail and other times these come via the internet. If you are one of these people why not use the summaries provided by Computershare and Link?
More
The Bitcoin basics 18 May 2018 - The Bitcoin basics The way Bitcoin works seems difficult to understand for anyone but a computer geek or financial wizard. However, it could determine the future of banking and it’s receiving plenty of attention from central banks.
More
Adding a large column of figures quickly 18 May 2018 - Adding a large column of figures quickly If you need to check a column of numbers, forget the adding machine unless you’re a touch typist.
More
ACC CoverPlus Extra 18 May 2018 - ACC CoverPlus Extra There are some very real advantages of using CoverPlus Extra instead of the ordinary ACC cover.
More
Real estate sweet spot 18 May 2018 - Real estate sweet spot There is an area in the commercial market which can give better than normal yields.
More
Keep Facebook at bay 18 May 2018 - Keep Facebook at bay The recent scandal revealing Facebook information has been shared without the knowledge of users, has highlighted the need to review data privacy.
More
Set for when you go 18 May 2018 - Set for when you go In our summer newsletter last year we suggested clients think about how loved ones could access your personal bank and social media accounts when you die.
More
The late Lord Bates 18 May 2018 - The late Lord Bates Lord Bates recently turned up two minutes late for a House of Lords debate.
More
TAX CALENDAR 18 May 2018 - TAX CALENDAR Tax Calendar Dates
More
Cryptocurrency- The buzzword of the digital age 19 Feb 2018 - Cryptocurrency- The buzzword of the digital age Cryptocurrency is the new buzzword for trading and investment in the digital age. It's gained fame – and some notoriety – in recent years as a form of money that's designed to be secure and anonymous.
More
Get organised for annual accounts 19 Feb 2018 - Get organised for annual accounts The 31st of March is rapidly approaching. Now is a good time to think about getting organised for your annual accounts to minimise hassles.
More
IRD seeking more data, quicker 19 Feb 2018 - IRD seeking more data, quicker Inland Revenue is aiming to get as much data from you, in electronic format, as it can.
More
Stay safe online 19 Feb 2018 - Stay safe online Almost everyone is now making financial transactions of some sort online. It's making the job of doing business simpler and more efficient, but it's certainly not without risk.
More
AIM could be helpful 19 Feb 2018 - AIM could be helpful If you have seasonal income or will pay more than $60,000 of tax in the year, the new Accounting Income Method (AIM) could be good for you.
More
Be generous in business 19 Feb 2018 - Be generous in business People come to you because they know, like and trust you. Be generous. It helps people to like you.
More
More tax tips, traps and troubles 19 Feb 2018 - More tax tips, traps and troubles At present you must hold a residential property (that isn’t your main home) for at least two years to avoid paying income tax on any capital gain. Labour has firmly stated they intend to increase this period to five years.
More
Programs check grammar 19 Feb 2018 - Programs check grammar Proofreading is a great example of how technology is replacing humans.
More
The magic of property leverage 19 Feb 2018 - The magic of property leverage If you’re using rental properties for your nest egg, consider adding value by making alterations to your property worth more than their cost.
More
Another plea from IRD 19 Feb 2018 - Another plea from IRD When paying withholding tax on dividends the payment account type is DWT. When paying withholding tax on interest the account type is IPS.
More
Marketing is an ongoing process 19 Feb 2018 - Marketing is an ongoing process Now is an excellent time to prepare your plans for the coming financial year. Your marketing plan should usually be your first consideration.
More
TAX CALENDAR 19 Feb 2018 - TAX CALENDAR
More
Set out to succeed 15 Aug 2017 - Set out to succeed According to international business information service Bloomberg, eight out of 10 new businesses fail in the first 18 months.
More
Vehicle purchase decisions never been trickier 15 Aug 2017 - Vehicle purchase decisions never been trickier It has never been trickier to analyse the costs and benefits of buying a new car, especially because of the claims about electric and hybrids cars saving you money.
More
Follow up, systematically 15 Aug 2017 - Follow up, systematically Do you ever send an email with a request and never hear back? One way to keep control is to transfer a copy from your sent file into a follow-up folder on your desktop. You could have a folder for each week. Then once a week go through this folder to see who has not responded to your emails.
More
Service ‘for’ and ‘of’: know the difference 15 Aug 2017 - Service ‘for’ and ‘of’: know the difference An employee enters into a contract “of” service but a contractor enters into a contract “for” services. These words can matter. When writing an agreement with a contractor, use the words “for services” in your agreement.
More
Take time out to ‘think’ 15 Aug 2017 - Take time out to ‘think’ If you're reading this, you're most likely a small business owner with all the stresses of the business on your shoulders
More
Avoid the bad payers 15 Aug 2017 - Avoid the bad payers The first rule about debts is to try and avoid customers who don’t pay what they owe you. If the amount is going to be large, get a deposit first, get a credit report, or both
More
Trusts with only a family home 15 Aug 2017 - Trusts with only a family home If you have a family trust, which only owns your home, you should remember, if you have been paying off the mortgage principal, the trust owes you the money you have paid on its behalf.
More
Family trust dividends 15 Aug 2017 - Family trust dividends When distributing dividends to beneficiaries of a family trust, you must do so in proportion to the total distribution to each beneficiary. You cannot pick and choose who gets the dividends.
More
Seismic Assessment - quake repairs 15 Aug 2017 - Seismic Assessment - quake repairs Do you need to strengthen your building to cope with the risk of a big earthquake? Generally, the cost of upgrading your building, for this purpose, is not tax deductible.
More
Send a reminder 15 Aug 2017 - Send a reminder You may already be sending reminders to customers. If you’re not, perhaps you should.
More
Setting targets 15 Aug 2017 - Setting targets Recently we were told about a sales manager who had commanded his sales force to achieve certain targets.
More
Finding the best app 15 Aug 2017 - Finding the best app With the huge number of organisations offering apps to help you run your business better, it's easy to be confused about what to invest in.
More
The importance of backups 15 Aug 2017 - The importance of backups Tim, who works from home, spent all day working on a document. In the late afternoon he and his wife went out for a walk. When he came home the document was no longer visible on his computer.
More
Help customers contact you 15 Aug 2017 - Help customers contact you Do you find, when you visit a website, it's difficult to find out how to get in touch with the business owners?
More
Choosing your insurance firm 15 Aug 2017 - Choosing your insurance firm Many of us shop based on price. When it comes to insurance, you should also think about how the insurer treats its customers when claims are made.
More
TAX CALENDAR 15 Aug 2017 - TAX CALENDAR
More
Low rates not so good 20 Jun 2017 - Low rates not so good Don’t be taken in by very low interest rates for hire purchase, or even those offering zero percent
More
Does your cash register always balance? 20 Jun 2017 - Does your cash register always balance? People make mistakes. Every so often there’ll be less in the till than you expect
More
FBT on work-related vehicles 20 Jun 2017 - FBT on work-related vehicles You must pay FBT on a work-related vehicle, if it's available for private use. It doesn't matter that the vehicle is a commercial vehicle and not a car, nor that it's been sign-written to comply with Inland Revenue requirements.
More
PAYE salaries for company owners 20 Jun 2017 - PAYE salaries for company owners The law has just been changed. Provisional taxpayers will be permitted to take a PAYE salary and still remain provisional taxpayers.
More
Never make judgements about potential customers 20 Jun 2017 - Never make judgements about potential customers Carl and Carole were buying a new kitchen. They needed new appliances so they went to one of the large retail stores.
More
Danger in cashing up when company sells 20 Jun 2017 - Danger in cashing up when company sells If your business is in a company, you need to understand tax on capital gains.
More
Nothing beats asking the customer 20 Jun 2017 - Nothing beats asking the customer A couple were having lunch in a cafe. “If you owned this cafe, how would you improve it,” Bert asked. They discussed decor and menu.
More
How to win the email war 20 Jun 2017 - How to win the email war
More
Money laundering hits accountants 20 Jun 2017 - Money laundering hits accountants From 1 October next year accountants are going to have to ....
More
Student loan interest 20 Jun 2017 - Student loan interest Many students studying overseas, full-time or doing an internship and receiving a government funded scholar-ship, are to be entitled to an exemption from interest on their student loan.
More
Sell what people want 20 Jun 2017 - Sell what people want If you're selling pills to help prevent winter colds and they also have a nice flavour, sell the flavour.
More
Try a password manager 20 Jun 2017 - Try a password manager If you're not lucky enough to have a photographic memory, keeping track of passwords can be a nightmare.
More
Keeping a log book made easy 20 Jun 2017 - Keeping a log book made easy Keeping a vehicle log book is a bind. Inland Revenue requires you to note your opening odometer reading and closing odometer reading over a three-month period.
More
The brilliance of F1 20 Jun 2017 - The brilliance of F1 Go for the shortcuts - F1 is brilliant. Do you dream of being able to get much more out of your computer?
More
Windows 10 tips and tricks 20 Jun 2017 - Windows 10 tips and tricks
More
TAX CALENDAR 20 Jun 2017 - TAX CALENDAR
More
Big changes to PAYE on the way 28 Feb 2017 - Big changes to PAYE on the way On 3 November 2016, Inland Revenue announced changes to PAYE effective from 1 April 2019.
More
Write off bad debts 28 Feb 2017 - Write off bad debts One of the biggest issues is the importance of writing off bad debts. It seems almost every year we have a client for whom we prepare the annual financial statements, who has a large amount of money owing to them.
More
Deducting tax from payments to a contractor 28 Feb 2017 - Deducting tax from payments to a contractor Generally, if someone working for you appears to be an employee, they probably are for tax purposes. There are a whole lot of tests you can apply but if you supply the equipment, premises, agree on hours of work etc you have probably got an employee
More
Gift vouchers 28 Feb 2017 - Gift vouchers If you are in retailing, do you increase your sales by offering gift vouchers? Gift vouchers usually have an expiry date
More
Undeclared cash jobs 28 Feb 2017 - Undeclared cash jobs Recently, Inland Revenue wrote to us to remind us “undeclared cash in the construction sector remains a high priority for us”.
More
Get your debtors right at 31 March 28 Feb 2017 - Get your debtors right at 31 March Clients use all sorts of systems for keeping a tally on the money owing to them. From a tax perspective, the figure at balance date needs to be accurate
More
Seeking feedback doesn’t need to be pushy 28 Feb 2017 - Seeking feedback doesn’t need to be pushy How often do you dine out and get interrupted during an interesting conversation by the waiter/waitress wanting to know if you are enjoying your meal?
More
Beware the debt collector 28 Feb 2017 - Beware the debt collector These disclosures are going to be very dangerous. They will damage the credit rating of those who offend. If you are in this situation, be sure to make an arrangement with the Inland Revenue to catch up and make sure you stick to it.
More
BRIEFLY 28 Feb 2017 - BRIEFLY Tax deductions on food and drink
More
Buying a new computer 28 Feb 2017 - Buying a new computer Most of us know very little about computers. When we need a new one, we go to a shop and the salesman usually seems more concerned about making a sale than giving you valuable knowledge.
More
Get control of donations 28 Feb 2017 - Get control of donations Get control if you're bombarded with donation requests.
More
Save data even with cloud accounting 28 Feb 2017 - Save data even with cloud accounting Although a third party provider may be used to store business records, taxpayers remain responsible for their tax obligations including retaining business records for the retention period (usually seven years) required under the Tax Administration Act.
More
Feasibility expenditure 28 Feb 2017 - Feasibility expenditure The tax deductibility of feasibility studies is a bit of a minefield. You should consult us first.
More
TAX CALENDAR 28 Feb 2017 - TAX CALENDAR 2017 Tax Calendar
More
Go for the shortcuts 29 Nov 2016 - Go for the shortcuts IT’S true – most of us only scratch the surface of what's possible when we use our computers
More
What can I claim? 29 Nov 2016 - What can I claim? Incidentally, if you are in business and are registered for GST then you do have to have a “Tax invoice” for any payment you make of $50 or more, to claim the GST.
More
New rules for mileage rates 29 Nov 2016 - New rules for mileage rates A BILL is before Parliament which has a section dealing with tax deductions based on mileage
More
Don’t grab all the money 29 Nov 2016 - Don’t grab all the money IF you sell your business, which you run through a company, the money does not belong to you. It belongs to the company.
More
Some contractors to choose their own tax rate 29 Nov 2016 - Some contractors to choose their own tax rate
More
Choose your internet service provider with care 29 Nov 2016 - Choose your internet service provider with care
More
Trustees need to minute their decisions 29 Nov 2016 - Trustees need to minute their decisions A COUPLE of months ago some horrendous stories were published in the daily papers about businesses unable to function because they could not get their internet connection repaired.
More
Contractors to labour hire firms 29 Nov 2016 - Contractors to labour hire firms IF you contract to a firm hiring labour, from 1 April 2017, the withholding tax deducted from your income will be at the rate of 20%.
More
Voluntary withholding agreements 29 Nov 2016 - Voluntary withholding agreements SOME contractors don’t have to have withholding tax deducted from their income.
More
Computer backups 29 Nov 2016 - Computer backups HERE’S a checklist to help you keep your data safe.
More
How to reduce bad debts 29 Nov 2016 - How to reduce bad debts PREVENTION is better than cure when reducing the number of bad debts.
More
Always check your ACC account 29 Nov 2016 - Always check your ACC account YOUR ACC account could easily be wrong. Always check it.
More
How much rent should I charge? 29 Nov 2016 - How much rent should I charge? IT is always difficult to know, if you own a rental property, how much to charge
More
TAX CALENDAR 29 Nov 2016 - TAX CALENDAR TAX CALENDAR
More
Go for the shortcuts 29 Nov 2016 - Go for the shortcuts IT’S true – most of us only scratch the surface of what's possible when we use our computers
More
What can I claim? 29 Nov 2016 - What can I claim? Incidentally, if you are in business and are registered for GST then you do have to have a “Tax invoice” for any payment you make of $50 or more, to claim the GST.
More
New rules for mileage rates 29 Nov 2016 - New rules for mileage rates A BILL is before Parliament which has a section dealing with tax deductions based on mileage
More
Choose your internet service provider with care 29 Nov 2016 - Choose your internet service provider with care
More
Don’t grab all the money 29 Nov 2016 - Don’t grab all the money IF you sell your business, which you run through a company, the money does not belong to you. It belongs to the company.
More
More tax changes afoot 15 Aug 2016 - More tax changes afoot The Inland Revenue Department and the Government have recently introduced a multitude of tax changes. We outline some of the important ones below.
More
Soggy newspapers 15 Aug 2016 - Soggy newspapers Do you get rain drenched newspapers delivered to your home? Ken from Wellington noticed some time ago newspapers were delivered with a double wrapping....
More
Business wisdom from John Borghetti 15 Aug 2016 - Business wisdom from John Borghetti Doug Nancarrow has written a biography of John Borghetti, who never got a tertiary education but still got almost to the top of Qantas and became the CEO of Virgin Australia.
More
Getting a good paint job 15 Aug 2016 - Getting a good paint job Jim took the lowest quote to paint his new house, but the paint started to peel within three years....
More
Useful tips for the job hunters 15 Aug 2016 - Useful tips for the job hunters Here are a few tips if you have family members looking for a job:
More
Being a trustee carries responsibilities 15 Aug 2016 - Being a trustee carries responsibilities Every so often we remind clients of the risks involved in being a trustee. It doesn’t matter whether the trust is a family trust or a charitable trust. Trustees are directly responsible to the beneficiaries for their management of the trust assets.
More
Read every word of insurance policies 15 Aug 2016 - Read every word of insurance policies Strangely, one of the biggest risks in business is our insurance policy.
More
Debt forgiveness 15 Aug 2016 - Debt forgiveness It may seem extraordinary but if someone forgives you a debt, from a tax perspective, you have taxable income unless the debt is forgiven for natural love and affection...
More
Reverse mortgages 15 Aug 2016 - Reverse mortgages Oldies often run out of money and they are sometimes helped by their children.
More
Great news for two finger typists. 15 Aug 2016 - Great news for two finger typists. If you're tired of typing up endless reports, or your arms ache from too much typing, you might want to consider some voice recognition software....
More
Tax on capital gains 15 Aug 2016 - Tax on capital gains Are capital gains taxable? Yes, in some circumstances they are.
More
The biggest lies in business 15 Aug 2016 - The biggest lies in business The biggest lie in business used to be: “The cheque is in the mail.”...
More
Have your say 15 Aug 2016 - Have your say IRD has asked us to draw your attention to its new website: changingforyou.ird.govt.nz
More
Want to buy a house? 15 Aug 2016 - Want to buy a house? It’s easy to sell a property at the moment, but if you’re a buyer, get sorted before putting in a tender or going to auction...
More
Tax Calendar 15 Aug 2016 - Tax Calendar
More
New tax rules coming 18 May 2016 - New tax rules coming From 1 April 2017 there are going to be a number of significant tax changes. Proposals include the following...
More
Pay your PAYE . . . or go to jail 18 May 2016 - Pay your PAYE . . . or go to jail If you’ve got a business which involves paying staff and you are getting into financial difficulty, pay your PAYE immediately it is due.
More
Don’t tell us your problems! 18 May 2016 - Don’t tell us your problems! An elderly couple were having lunch at a café. After half an hour the grumpy old man called the waitress over and said their quiche had not arrived.
More
The Dominion Post reports… 18 May 2016 - The Dominion Post reports… New health and safety legislation has forced Sir Peter Jackson to resign as a director of Weta Workshop, The DominionPost has reported.
More
Keep in touch 18 May 2016 - Keep in touch It’s staggering how few people keep in touch with their former customers.
More
Understand your term investments 18 May 2016 - Understand your term investments When you invest money on a term deposit, you’ll find a perplexing number of options, which are hard to assess.
More
House pricing tip 18 May 2016 - House pricing tip When you want an indication of how much you might ask for your house...
More
Managing the Money Laundering Act 18 May 2016 - Managing the Money Laundering Act Most investors like to spread their risks. This means seeking out new institutions for investing.
More
Keep customers informed 18 May 2016 - Keep customers informed Have you ever stood in front of your microwave and told it to hurry up heating your meal?
More
The three elements of a gift 18 May 2016 - The three elements of a gift Inland Revenue says there are three elements to a gift:
More
More tips on saving time 18 May 2016 - More tips on saving time Some urgent work is not important, such as calls about a committee you are on. Give important work priority.
More
Quotes from Success in NZ Business by Paul Smith 18 May 2016 - Quotes from Success in NZ Business by Paul Smith Kevin Roberts of Lion Brewery said:
More
Cloud programs help you keep up 18 May 2016 - Cloud programs help you keep up Keeping up with technology has always been an issue for small businesses.
More
Make a will to avoid heartache for your spouse 18 May 2016 - Make a will to avoid heartache for your spouse Make a will when you get married. If you don’t, your spouse will probably live to regret your inaction.
More
Tax Calendar 18 May 2016 - Tax Calendar Don't be late!
More
GST on the way for offshore web purchases 18 Feb 2016 - GST on the way for offshore web purchases You’ll soon be paying GST on purchases you make online from overseas companies.
More
Boost income by offering more every time 18 Feb 2016 - Boost income by offering more every time The following story is a great example of a business adding value to their service.
More
Getting your PIE tax right 18 Feb 2016 - Getting your PIE tax right If you're investing in a PIE, be sure to get the right tax rate (PIR). You should check with us when we do your tax return each year as it can change from year to year and there are no refunds of overpaid tax.
More
Tax on holiday pay 18 Feb 2016 - Tax on holiday pay Use the extra pay tables to get holiday pay correct
More
Let staff take risks 18 Feb 2016 - Let staff take risks The staff you should want are those willing to use judgement and take the risk of getting things wrong, occasionally.
More
Travel in comfort 18 Feb 2016 - Travel in comfort To make a comparison of possible aeroplanes and the comfort they offer try seatguru.com.
More
Write off those bad debts 18 Feb 2016 - Write off those bad debts Review your debtors now. If you think you’re not going to be paid, write off the amount. Don’t delay beyond balance date, because you can’t backdate a write-off.
More
Checklist for annual accounts 18 Feb 2016 - Checklist for annual accounts Make a checklist of the things you need to do to streamline your annual accounts. Here are some suggestions to start you off
More
Tax changes afoot for student loans 18 Feb 2016 - Tax changes afoot for student loans Did you know proposed changes to tax laws regarding student loans mean...
More
Advertising for profit 18 Feb 2016 - Advertising for profit Do you measure your responses from advertisements? How many of those responses turn into sales? Don’t know? Then ask your new customers, every time, why they came to you.
More
BRIEFLY 18 Feb 2016 - BRIEFLY The story of a smart typist, Trustees and Inland Revenue, and Got a bad debt looming?
More
The early quote is likely to get the worm 18 Feb 2016 - The early quote is likely to get the worm There are the quick and the dead. Although the phrase was originally seen in The Bible and “the quick” meant the living, its more modern meaning is apt in business. Act quickly, or your business will die.
More
Website not always the right answer 18 Feb 2016 - Website not always the right answer If you're in business, you've got to have a website, right? Well, maybe. While websites are certainly important marketing tools, it's better to have no website than a bad one.
More
Why a newsletter? 18 Feb 2016 - Why a newsletter? Have you ever wondered who that plumber, lawyer etc was you dealt with 18 months ago? Next time you want a plumber, what do you instinctively do? You try to remember who you dealt with last time and if you have forgotten you look elsewhere.
More
Personal Property Security could save your bacon 18 Feb 2016 - Personal Property Security could save your bacon If your business is a company, you’ve probably had to give a personal guarantee to your bank and maybe to some suppliers, too. If your business runs into trouble, you’re going to have to find personal money to pay off those debts.
More
Tax Calendar 18 Feb 2016 - Tax Calendar Don't be late!
More
Avoid tax evasion 09 Nov 2015 - Avoid tax evasion Tax avoidance and tax evasion are technical terms, but it helps to know the difference.
More
It’s your mistakes that count 09 Nov 2015 - It’s your mistakes that count If you give your customers exemplary service they will love you for it. But make a few mistakes and they will remember these most of all.
More
Tax on living expenses 09 Nov 2015 - Tax on living expenses Did you know, you're never taxed on the money you take out of your business for living expenses?
More
Download your bank statements 09 Nov 2015 - Download your bank statements If you no longer get paper bank statements, what would you do if Inland Revenue asked you to supply them?
More
Beware a sudden surge of income from currency fluctuations 09 Nov 2015 - Beware a sudden surge of income from currency fluctuations The sudden drop in the New Zealand dollar will increase the value of money held in overseas bank accounts or overseas fixed interest investments.
More
Don’t be timid – negotiate with the bank 09 Nov 2015 - Don’t be timid – negotiate with the bank Here's a story about the owner of a small house in a North Island provincial town who's on a modest salary.
More
Visitor’s book worth shouting about 09 Nov 2015 - Visitor’s book worth shouting about Do you have a visitor’s book for your business?
More
Avoid miscommunications 09 Nov 2015 - Avoid miscommunications There are many ways in which you can communicate your thoughts to another person. Talking is only part of it.
More
First day is last day 09 Nov 2015 - First day is last day We've been told by a bank that a bank month runs from the last day of the month to the second to last day of the next month.
More
Feedback responses 09 Nov 2015 - Feedback responses If you ask for feedback, make sure you do something about each response you get.
More
Legal discrimination 09 Nov 2015 - Legal discrimination You can discriminate against someone and break the law about 13 basic ways. For the rest, you're free to discriminate at your will.
More
Google that flight 09 Nov 2015 - Google that flight Time is money, and if you're spending too much time at the airport waiting for a delayed flight, you might not be as productive as you should be.
More
Be different to get noticed 09 Nov 2015 - Be different to get noticed Soon after Donald Trump started his campaign to become the Republican candidate for the White House, he went straight to the top of the polls. Why?
More
Specialise for success 09 Nov 2015 - Specialise for success Being a specialist gives you an edge. You'll be offering things few other people do.
More
Tax Calendar 09 Nov 2015 - Tax Calendar Don't be late!
More
Dress for the perception of success 17 Aug 2015 - Dress for the perception of success If you think your attire is not important in business, think again. Perception, as they say, is everything.
More
Tax on lump sum payments 17 Aug 2015 - Tax on lump sum payments There are fewer tricky tax calculations than calculating tax on lump sum payments.
More
Surprise for property developer 17 Aug 2015 - Surprise for property developer Spare a thought for Mr X who borrowed a large sum of money for a development project, which came unstuck.
More
NZ Super leads to over-taxing 17 Aug 2015 - NZ Super leads to over-taxing People often continue working after receiving superannuation. By doing so, they make it legally their secondary job
More
TAX BRIEFS 17 Aug 2015 - TAX BRIEFS Cash back on airpoints, Losses for research & development, keeping tax details and Forestry Grant Scheme
More
Pointers for quoting 17 Aug 2015 - Pointers for quoting There are five basic mistakes you can make when putting in your price for work or products.
More
Changes to HomeStart 17 Aug 2015 - Changes to HomeStart There have been some changes to HomeStart
More
BRIEFLY 17 Aug 2015 - BRIEFLY Calculating KiwiSaver, Fishing "goods", What will they lose?, Asking for referrals and Ultra fast broadband
More
Check router for data blowout problems 17 Aug 2015 - Check router for data blowout problems A blowout in your consumption of uploading and downloading data on the internet could be because of several factors. If you don't usually send or receive large quantities of data, consider checking the router.
More
Shareholders’ agreements 17 Aug 2015 - Shareholders’ agreements If you’re working in a company in which you own shares, do you have an agreement with your co- shareholders?
More
Network for new business 17 Aug 2015 - Network for new business Some people don’t like networking, because it can take them out of their comfort zone. But business is all about relationships.
More
Tax Calendar 17 Aug 2015 - Tax Calendar Don't be late!
More
Good systems breed success 14 May 2015 - Good systems breed success Success in business has a lot to do with systems. Get your systems right and your work will flow better.
More
Watch out for phishing expeditions 14 May 2015 - Watch out for phishing expeditions Inland Revenue tells us there are currently two email scams targeting Inland Revenue customers.
More
Better writing 14 May 2015 - Better writing Would you like to improve the way you write? Here are some tips:
More
Take notes as evidence 14 May 2015 - Take notes as evidence Occasionally you'll encounter a conflict, which you'll usually try to resolve on the telephone. Sometimes you'll succeed.
More
Catch out staff, for the better 14 May 2015 - Catch out staff, for the better It’s a good idea to try and catch your staff out. Sounds strange? Try and catch them doing something really good.
More
Splitting a couple’s income 14 May 2015 - Splitting a couple’s income Generally, splitting income of a couple is allowed only if you can justify the amount paid to the smaller income earner.
More
Useful website 14 May 2015 - Useful website If you're a borrower or a lender the website interest.co.nz should be useful to you.
More
Don’t be mean with a guarantee 14 May 2015 - Don’t be mean with a guarantee A woman bought a watch from a well known New Zealand jeweller, but had trouble when she questioned the guarantee.
More
Bank charges are down 14 May 2015 - Bank charges are down There has been a big cut in bank charges.
More
BRIEFLY 14 May 2015 - BRIEFLY Are you using the correct PAYE tables? UOMI rates up, New car and FBT, and Investment income.
More
The power and risk of social media 14 May 2015 - The power and risk of social media Social media such as Facebook can be both powerful and risky for businesses.
More
NZ in tax swap info deal with United States 14 May 2015 - NZ in tax swap info deal with United States New Zealand has entered into an agreement with the United States for information sharing in response to a US Act called the Foreign Account Tax Compliance Act (FATCA).
More
Read important documents 14 May 2015 - Read important documents The Insurance and Savings Ombudsman said recently that customers of financial advisers should keep all documents, read them carefully, and always ask questions.
More
Employment contracts 14 May 2015 - Employment contracts Any employment contract will not do. The law changes constantly. Employment contracts need to be handled by a professional.
More
Tax Calendar 14 May 2015 - Tax Calendar Don't be late!
More
Annual accounts planning pays off 12 Feb 2015 - Annual accounts planning pays off When you're preparing material for your annual accounts, the best guide is our questionnaire. Please answer all questions. If you're unsure of the answers...
More
When your home is in a trust 12 Feb 2015 - When your home is in a trust It’s common to allow a family to live in the home owned by a family trust; on the basis the family pays all expenses. If this agreement isn't documented...
More
Reverse print noticeably harder to read 12 Feb 2015 - Reverse print noticeably harder to read Some clever Richard once had an inspirational idea. Instead of having black writing on a white surface why not have it the other way around?
More
Plan to make business bigger, better 12 Feb 2015 - Plan to make business bigger, better “Planning is critical.” – From Colyn Devereux-K Fragrance Holdings Accountants talk of budgeting. This is putting dollar amounts to a business plan. What is a business plan?
More
Staff sacking requires cool head 12 Feb 2015 - Staff sacking requires cool head Be very careful when sacking staff. Many employers lose their cases because they fail to follow “due process”.
More
Spit it out 12 Feb 2015 - Spit it out When you ask callers to leave a message, keep your instructions as short as possible.
More
Beware online defamation 12 Feb 2015 - Beware online defamation For many people, social media such as Facebook or blogs, are to be avoided like the plague. Some of their reasons might well be valid. Take the issue of defamation...
More
Working for Families 12 Feb 2015 - Working for Families Tougher new rules to determine family income started from 1 April 2014.
More
First home buyers 12 Feb 2015 - First home buyers From 1 April 2015 you'll be able to draw all your money out of your KiwiSaver account, except the Government’s kick-start payment.
More
Could your domain name be nicked? 12 Feb 2015 - Could your domain name be nicked? You can now register your domain name as .nz, leaving out the “co”.
More
TAX CALENDAR 12 Feb 2015 - TAX CALENDAR Don't be late!
More
Get in first with terms to avoid embarrassment 12 Feb 2015 - Get in first with terms to avoid embarrassment Recently, a health professional was invited to deliver a speech. He assumed, as it was part of his professional activity, he would be paid.
More
Be different, be better 31 Oct 2014 - Be different, be better S had a house built for him. The builder engaged painters who did such a poor job the paint started peeling off the outside of the house after about three years. S sued the painter successfully.
More
Chocolates prove to be the right sweetener 31 Oct 2014 - Chocolates prove to be the right sweetener A South Island company sent a box of handmade chocolates as a thank you when they delivered an order.
More
Take care when setting remuneration 31 Oct 2014 - Take care when setting remuneration Rules exist to stop people paying too much salary or profit share to a family member, as a way of paying less tax.
More
Taking stock for your own use 31 Oct 2014 - Taking stock for your own use IRD says you should value stock taken for your own use at its market value.
More
Keep the survey simple 31 Oct 2014 - Keep the survey simple Surveys have reached epidemic proportions. They are generally excessively long.
More
A couple of IRD don’ts 31 Oct 2014 - A couple of IRD don’ts Here’s a couple of don’ts when dealing with IRD...
More
Tax law never sleeps 31 Oct 2014 - Tax law never sleeps Tax law is evolving at an ever increasing rate.
More
A contract is a contract - no ifs or buts 31 Oct 2014 - A contract is a contract - no ifs or buts In our culture, once you have entered into a contract, it is not renegotiable. You can’t add conditions after the event. Here's an example...
More
Who is your important customer? 31 Oct 2014 - Who is your important customer? A couple in their 30s visited a car franchise dealer and were greeted by a salesman who asked: “How much were you thinking of spending?”
More
Statutory records 31 Oct 2014 - Statutory records If you run your business through a company, keeping good statutory records to comply with the Companies Act 2013 is important.
More
NZ business number 31 Oct 2014 - NZ business number Gurus are working on a way to give a number to every business, trust and state sector organisation in the country.
More
Bank email scams 31 Oct 2014 - Bank email scams Bank email scams are becoming increasingly sophisticated and very common.
More
Seven tips for email senders 31 Oct 2014 - Seven tips for email senders Here are seven tips which will help email readability. 1. Keep emails concise...
More
Delay that email and save embarrassment 31 Oct 2014 - Delay that email and save embarrassment How often have you just hit the email send button and realised you forgot an attachment or, worse still, sent it to the wrong person?
More
The 80/20 principle applies widely 31 Oct 2014 - The 80/20 principle applies widely In 1906 Pareto, an Italian, noticed 80% of the wealth in his country was in the hands of 20% of the people. Others later noted the 80:20 rule applied widely.
More
Flying across the Tasman 31 Oct 2014 - Flying across the Tasman The cost of trans-Tasman flying is not always what it seems.
More
TAX CALENDAR 31 Oct 2014 - TAX CALENDAR Don't be late!
More
If you can measure it, you can manage it 05 Aug 2014 - If you can measure it, you can manage it Most small business operators are lazy about keeping records to help them improve their business. They’d say they are too busy.
More
IRD and ‘your cheque is in the mail’ 05 Aug 2014 - IRD and ‘your cheque is in the mail’ From 1 October this year cheques must reach IRD by the due date for payment. Posting a cheque on the last day will be too late.
More
IRD up in arms about ‘donations’ 05 Aug 2014 - IRD up in arms about ‘donations’ IRD is getting upset about “donations” which are really in the nature of fees for services.
More
Rules for accounts change from 1 April 2015 05 Aug 2014 - Rules for accounts change from 1 April 2015 The rules for preparing your accounts will change when we do your 2015 tax return.
More
Tax conference outlines IRD thinking 05 Aug 2014 - Tax conference outlines IRD thinking On 12 and 13 June 2014 a conference in Wellington discussed tax administration for the 21st century.
More
Keeping hard-earned wealth a challenge 05 Aug 2014 - Keeping hard-earned wealth a challenge We have seen many clients work very hard only to lose some or all of their savings. And they’re not stupid people, quite the contrary.
More
Beware complaints 05 Aug 2014 - Beware complaints You must be more careful than ever to avoid complaints about your business.
More
Mileage unchanged 05 Aug 2014 - Mileage unchanged Mileage rates are unchanged.
More
Claiming for partner 05 Aug 2014 - Claiming for partner When can you claim the travel costs for your spouse/partner, accompanying you on a business trip?
More
Perception is reality 05 Aug 2014 - Perception is reality What matters is what the customer feels about your service.
More
Use email signature as a marketing tool 05 Aug 2014 - Use email signature as a marketing tool An email signature can be a useful marketing tool.
More
TAX CALENDAR 05 Aug 2014 - TAX CALENDAR Don't be late!
More
No will? Make one now 05 Aug 2014 - No will? Make one now Do you have a will? Fifty percent of Kiwis don’t.
More
Manage your time on the internet 05 Aug 2014 - Manage your time on the internet If you want to save valuable time on the internet...
More
Trustees must be aware of fishhooks 16 May 2014 - Trustees must be aware of fishhooks A solicitor in a provincial town was the independent trustee for a family trust. Mr and Mrs B bought and sold 11 properties over a 12-year period. Ms X, the solicitor, did the conveyancing.
More
Make sure you get proper tax invoices 16 May 2014 - Make sure you get proper tax invoices Not all retailers are issuing proper tax invoices. For purchases over $50 at a minimum a tax invoice must include...
More
GET PERSONAL-BUSINESS LOAN ARRANGEMENTS RIGHT 16 May 2014 - GET PERSONAL-BUSINESS LOAN ARRANGEMENTS RIGHT A client bought a new car for his business. The business paid for the car but the finance arrangement was in his own name.
More
Take care with bank discussions 16 May 2014 - Take care with bank discussions Anything you say to a bank can be written down and used in evidence against you.
More
Under-promise, over-deliver for good referrals 16 May 2014 - Under-promise, over-deliver for good referrals It should be obvious to anyone in business, not keeping your word does nothing to enhance your image.
More
Que? This time the waiter delighted the customers 16 May 2014 - Que? This time the waiter delighted the customers It reminded our two friends of a Fawlty Towers episode. They went to a restaurant and ordered rhubarb strudel.
More
When missing out creates opportunities 16 May 2014 - When missing out creates opportunities What do you do if you've missed out on a contract?
More
ACC classification 16 May 2014 - ACC classification It appears ACC may be using “Manufacturing” as a default classification.
More
Tax rebates 16 May 2014 - Tax rebates IRD uses the processing date of rebates as the date the payment can be credited.
More
Facebook for staff 16 May 2014 - Facebook for staff If you want to find out about a prospective employee, why not look them up on Facebook?
More
Chronically short of time? 16 May 2014 - Chronically short of time? Here are some suggestions if you never seem to have enough time to get things done...
More
Banks are cashing in on PIE investments 16 May 2014 - Banks are cashing in on PIE investments PIEs are great for the banks. They are now offering PIE investments at a lower interest rate than term deposits.
More
Say goodbye to expensive toll and cellphone calls 16 May 2014 - Say goodbye to expensive toll and cellphone calls Would you like free toll calls within New Zealand and cut rates when you call a cellphone or make an overseas call?
More
TAX CALENDAR 16 May 2014 - TAX CALENDAR Don't be late!
More
Repellent makes a mark 16 May 2014 - Repellent makes a mark A café serves Devonshire teas.
More
Improve your ads for better results 16 May 2014 - Improve your ads for better results Many advertisements fail to get results. Improve your ads. Poor results from ads could be your fault.
More
Can’t pay tax? Options are available 19 Feb 2014 - Can’t pay tax? Options are available Some people who can’t pay their tax let the problem fester. Our advice: Don’t! We can help you to do the following...
More
Plan now for year-end tax 19 Feb 2014 - Plan now for year-end tax With a bit of planning, you can reduce your tax and your year-end accounts can be hassle-free. Here are a few tips.
More
Five marketing mistakes within an hour 19 Feb 2014 - Five marketing mistakes within an hour Our storyteller needed a plumber. He was just going out for the evening when he saw a trickle of water coming out of the cupboard.
More
Tough in retailing 19 Feb 2014 - Tough in retailing The pressure on retailing has never been as intense as in the past five years.The challenges have been not only the global financial crisis, which has meant people are paying off debt rather than spending, but also online retailing.
More
Unclaimed money 19 Feb 2014 - Unclaimed money We’re told 71,026 people have not claimed money owing to them.
More
Freshbooks 19 Feb 2014 - Freshbooks For those who are looking for a system for time recording, you might like to try Freshbooks.com.
More
Expensive ACC 19 Feb 2014 - Expensive ACC ACC is a special purpose tax. It’s very late arriving as it can’t be calculated until after the business tax return has been completed.
More
Staff business cards 19 Feb 2014 - Staff business cards All staff who deal with customers should have business cards, particularly your receptionist.
More
Conditional contracts 19 Feb 2014 - Conditional contracts Be careful what you sign. Some folk think there’s an easy out to a contract...
More
Turn a complainer into a powerful advocate 19 Feb 2014 - Turn a complainer into a powerful advocate It’s always better to hang on to your existing customers, than to seek new ones. Getting new customers is expensive and time-consuming.
More
CryptoLocker a nasty one 19 Feb 2014 - CryptoLocker a nasty one CryptoLocker is a ransomware virus. It’s created havoc around the world and is one you hope you never get.
More
TAX CALENDAR 19 Feb 2014 - TAX CALENDAR Don't be late!
More
Big bill for little error 19 Feb 2014 - Big bill for little error A bank customer owed about $4500 on his credit card. When he paid, he was mistakenly short by $68.
More
When a customer is in a buying mood, keep selling 19 Feb 2014 - When a customer is in a buying mood, keep selling Online store i-Tunes provides a superb example of capitalising on a customer’s buying mood.
More
It 13 Nov 2013 - It's all about Tax Many things have happened on the tax front since our last newsletter. You need to know about some of them.
More
The Value of a Well-known Brand 13 Nov 2013 - The Value of a Well-known Brand Peter and Margaret Berry were farmers. When they retired, they bought Bric-a-Brac, a well-known gift shop in Taupo.
More
Look carefully before you leap 13 Nov 2013 - Look carefully before you leap Here are two cases for thinking before acting.
More
Beware 15 January 13 Nov 2013 - Beware 15 January The date for payment of the second installment of provisional tax for 31 March taxpayers should have been 28 December. However...
More
Stick to the rules for bad debt claims 13 Nov 2013 - Stick to the rules for bad debt claims If you want to claim for a bad debt, you have to obey the rules. These are...
More
Romalpa clause redundant 13 Nov 2013 - Romalpa clause redundant Many business people include a Romalpa clause in their terms of trade.
More
Volume does not equal profit 13 Nov 2013 - Volume does not equal profit I heard a joke recently about a couple of dopey businessmen.
More
Being a trustee is a risky business 13 Nov 2013 - Being a trustee is a risky business We recently read a newsletter from a lawyer’s office saying the firm would be phasing out its trusteeships.
More
Biff out the bad ones for better business 13 Nov 2013 - Biff out the bad ones for better business A RELATION tells us he did a lot of work for a customer which wouldn’t pay its bills.
More
Clever steward service means first class for everyone 13 Nov 2013 - Clever steward service means first class for everyone We’re telling you this story just in case you can apply the idea to your own business.
More
Dropbox makes it simple 13 Nov 2013 - Dropbox makes it simple If you're confused when your friends' tech talk turns to the cloud, Dropbox could be a good introduction.
More
Tax Calendar 13 Nov 2013 - Tax Calendar November 28 2013 1st instalment of 2014 Provisional tax (June balance date)
More
Customer or the bank? 13 Nov 2013 - Customer or the bank? Notice on the door of a small-town bank: "We will be closed during the lunch break from 12.15 – 1pm...
More
Shareholders 13 Nov 2013 - Shareholders' and Partners' Agreements If you’re in business with other people, including friends and relatives, you should have an agreement...
More
Five steps to ‘engaging’ website visitors 19 Aug 2013 - Five steps to ‘engaging’ website visitors ON 28 October 2012, Monte Hubesch published a “5 step video process to ‘engage’ website visitors”. If you’re considering updating your website,
More
The roofer impresses with after-sales service 19 Aug 2013 - The roofer impresses with after-sales service I WAS out getting my morning exercise when I met a fellow exerciser.
More
Churchill quotes good for business 19 Aug 2013 - Churchill quotes good for business YOU can learn a lot from the late wartime leader Sir Winston Churchill to help you with your business.
More
Do you rent your holiday home? 19 Aug 2013 - Do you rent your holiday home? IF YOU rent your holiday home, you need to start keeping records...
More
Replacement insurance - it’s up to you 19 Aug 2013 - Replacement insurance - it’s up to you SAY goodbye to insuring your house for replacement. It was nice while it lasted.
More
Aim for triple-A in your business 19 Aug 2013 - Aim for triple-A in your business THE business formula for success can be summarised in three words,
More
The man who asked 19 Aug 2013 - The man who asked A YOUNG man recently set up business as an IT consultant.
More
Building up motel income 19 Aug 2013 - Building up motel income FRIENDS told us this story about the tourists who often stay at their motel.
More
Smile 19 Aug 2013 - Smile
More
Google that number 19 Aug 2013 - Google that number Try searching on Google to find a business phone number quickly.
More
Minding the children 19 Aug 2013 - Minding the children
More
Safety reminder 19 Aug 2013 - Safety reminder
More
Save interest and penalties 19 Aug 2013 - Save interest and penalties You can buy overpaid tax from a tax intermediary
More
Business cards stored with app 19 Aug 2013 - Business cards stored with app SEVERAL new apps for smartphones and other mobile devices are out there to make your business life easier.
More
Being good at what you do is only a small part of business 19 Aug 2013 - Being good at what you do is only a small part of business YOU might be particularly good at what you do. Unfortunately...
More
TAX CALENDAR 19 Aug 2013 - TAX CALENDAR
More
Another invoicing scam 19 Aug 2013 - Another invoicing scam THERE’S a business operating out of the United States, but based in Latvia. It issues invoices for re-registering patents and trademarks.
More
Keep GST file open at IRD 19 Aug 2013 - Keep GST file open at IRD CLIENTS frequently close their GST file at IRD too quickly
More
If it looks and smells dishonest, it probably is 17 May 2013 - If it looks and smells dishonest, it probably is WE HEARD a story recently about someone’s mother who had just gone into a rest home, but had always invested her savings in a joint account with this person.
More
Don’t be tempted to help yourself to the money 17 May 2013 - Don’t be tempted to help yourself to the money SOME clients continue to be too laid back when it comes to administering their trusts.
More
Are you in quadrant 2? 17 May 2013 - Are you in quadrant 2? STEPHEN COVEY was a management consultant famous for his book The Seven Habits of Highly Successful People.
More
Non taxable allowances 17 May 2013 - Non taxable allowances YOU’RE not permitted to guess the amount you pay an employee...
More
Loyalty cards – don’t follow the pack 17 May 2013 - Loyalty cards – don’t follow the pack BE DIFFERENT when it comes to loyalty programmes...
More
Buying a business – warranties and tax 17 May 2013 - Buying a business – warranties and tax WE’VE written articles before about buying a business. This time we’re talking about a couple of things which should not be overlooked
More
Buying and selling foreign currency 17 May 2013 - Buying and selling foreign currency BANKS are not the only organisations which can supply foreign currency
More
Reduce FBT liability for car while away 17 May 2013 - Reduce FBT liability for car while away IF YOU go overseas, you can’t use your car for private use, because you are physically unable to do so
More
Websites not an alternative to selling 17 May 2013 - Websites not an alternative to selling IF YOU’RE going to refer someone to your website for information, grab their contact details first...
More
Children’s wages 17 May 2013 - Children’s wages
More
1, 2, 3, 4 – we take our numbers for granted 17 May 2013 - 1, 2, 3, 4 – we take our numbers for granted CAN you imagine trying to multiply the Roman numerals XXXIII (33) by 100?
More
Generating repeat business 17 May 2013 - Generating repeat business A PLUMBER in the United States
More
Sticking to the plan is the hard part 17 May 2013 - Sticking to the plan is the hard part WE SUBSCRIBE to a free marketing newsletter in which the author tells us he intends to lose 20kg.
More
Tax Calender 17 May 2013 - Tax Calender
More
Start-ups in tough times can be achieved 27 Mar 2013 - Start-ups in tough times can be achieved MANY of today’s successful businesses began in difficult economic times.
More
Take a break and let ideas flow 27 Mar 2013 - Take a break and let ideas flow PERHAPS the best way to get some new ideas for your business is to apply some of the Edward De Bono thinking techniques.
More
Are you charging market rates? 27 Mar 2013 - Are you charging market rates? Recently we heard a story of a professional man whose charge-out rate was way lower than the others in his profession. He bit his bottom lip and hiked the prices 33% in one go.
More
Build business with a database 27 Mar 2013 - Build business with a database A DATABASE is arguably the most valuable tool you can use to promote your business.
More
PIEs and PIR 27 Mar 2013 - PIEs and PIR WE’RE still getting clients who are overpaying their tax when they invest in a Portfolio Investor Entity (PIE).
More
Write well and hook your reader 27 Mar 2013 - Write well and hook your reader WHEN you write...
More
Employee or contractor - take care 27 Mar 2013 - Employee or contractor - take care IT’S very tempting to try and make someone working for you a contractor rather than an employee.
More
Travel between home and work 27 Mar 2013 - Travel between home and work GENERALLY, the cost of travelling between home and work is not a tax-deductible cost.
More
Do the repairs first 27 Mar 2013 - Do the repairs first A BNZ survey has found 43% of house sales don’t proceed because of an adverse builder’s report.
More
Traps with multi-function office equipment 27 Mar 2013 - Traps with multi-function office equipment YOU can buy machines which will fax, email, photocopy, print and scan; all in one machine. It sounds wonderful, but it’s worth doing the research before you buy.
More
Dare to be different 27 Mar 2013 - Dare to be different A WOMAN went into an appliance shop and asked...
More
Dont be late 27 Mar 2013 - Dont be late Tax Calender
More
Using social media for business 27 Mar 2013 - Using social media for business SHOULD you use social media as part of your business marketing?
More
REDUCE risk by informing customers and clients of your terms of trade 12 Nov 2012 - REDUCE risk by informing customers and clients of your terms of trade Make sure they are aware of them before they accept your contract.
More
Baches come under scrutiny of IRD watchdogs 12 Nov 2012 - Baches come under scrutiny of IRD watchdogs IRD is proposing a new law to reduce claims for losses on renting a bach.
More
Set SMART goals 12 Nov 2012 - Set SMART goals SMART is an acronym. A client, new in business, has set himself a goal to achieve a sales total of $500,000 within five years. If this target is to be workable, it should conform with the SMART acronym which is
More
Build on relationships with regular information 12 Nov 2012 - Build on relationships with regular information PEOPLE come to you because they know, trust and like you. So if you’re trying to increase the number of your customers or clients, you need to build up this relationship.
More
Eight sure ways of wrecking a business 12 Nov 2012 - Eight sure ways of wrecking a business HERE’S eight simple things you can do to wreck a new business:
More
BRIEFLY 12 Nov 2012 - BRIEFLY Disappearing inheritance New charges Save tax penalties and interest Interest deductibility when business ceases
More
Capital gains tax is alive and well 12 Nov 2012 - Capital gains tax is alive and well THERE is no formula for determining when you have bought and sold enough properties to have reached a point where profits on those sales have become taxable.
More
Say ‘thanks’ for references 12 Nov 2012 - Say ‘thanks’ for references RECENTLY, a tax consultant wanted to expand her business so she asked her customers for references.
More
Think before signing up for ad promotions 12 Nov 2012 - Think before signing up for ad promotions A SALESMAN from the local newspaper rings and invites you to take an advertisement “in our special XXX supplement”. Should you pay for an ad?
More
Tax Calender 12 Nov 2012 - Tax Calender January 15 2013 2nd instalment of 2013 Provisional Tax (March Balance date except for those who pay provisional tax twice a year) Pay GST for period ended 30 November 2012 April 7 2013 Terminal Tax for 2012 (March April, May and June Balance dates)
More
Keep an eye on tax payments from your bank 14 Sep 2012 - Keep an eye on tax payments from your bank WE HAVE come across two cases recently of a bank underpaying a client’s tax.
More
Treat your shop window as marketing 14 Sep 2012 - Treat your shop window as marketing A SHOP window for retailers is one of their best marketing tools.
More
Never assume your ACC bills are correct 14 Sep 2012 - Never assume your ACC bills are correct ERRORS in ACC bills are not uncommon. Check the invoices you receive.
More
Declaring dividends for foreign investments 14 Sep 2012 - Declaring dividends for foreign investments IF YOU are operating two or more companies, try to avoid making inter-company loans.
More
Family trusts still the safest option 14 Sep 2012 - Family trusts still the safest option WE SAW this headline in a lawyer’s advertisement for a seminar:
More
Give-away reminders 14 Sep 2012 - Give-away reminders WHY give away branded pens? Does this work as a promotional tool and if so, how?
More
No time for sour grapes with failed contract bids 14 Sep 2012 - No time for sour grapes with failed contract bids HERE’S a story from one of our clients.
More
Letterhead syndrome 14 Sep 2012 - Letterhead syndrome IF YOU have a friend starting in business, don’t let them spend hours thinking about what their business cards and letterhead will look like.
More
Instant karma will get you on social media 14 Sep 2012 - Instant karma will get you on social media THEY say a person with one bad experience will tell 15 others.
More
TAX CALENDAR 14 Sep 2012 - TAX CALENDAR TAX CALENDAR
More
Tax Calendar 21 May 2012 - Tax Calendar May 28 1st Instalment of 2013 Provisional Tax (December balance date)
More
Advertising is not the only way 21 May 2012 - Advertising is not the only way YOU advertise to boost sales but do you stop to think about other ways to grow your business?
More
Learn how to think 21 May 2012 - Learn how to think FORGET brain-storming if you want good ideas. Brain-storming is where a group of people throw ideas into the ring and someone writes them down.
More
Did you know…? 21 May 2012 - Did you know…? If you go out to dinner and discuss business with your spouse, this is a personal cost.
More
Make a will and save others extra grief 21 May 2012 - Make a will and save others extra grief FROM time to time we hear a sad tale about someone who has died and failed to make a will.
More
Rude staff – who’s to blame? 21 May 2012 - Rude staff – who’s to blame? WHEN a staff member is rude to a customer, is the staff member to blame?
More
Reminder about PIE benefits & ripoffs 21 May 2012 - Reminder about PIE benefits & ripoffs WE STILL have clients using the wrong tax rate for portfolio investment entities (PIEs). For the purposes of this article, we will assume your PIE income is less than $22,000.
More
Keep your expensive car and save FBT 21 May 2012 - Keep your expensive car and save FBT IT’S nice to update your company car from time to time. However, if you hang on to it for more than five years, there’s a reward.
More
Several factors determine the worth of a business 21 May 2012 - Several factors determine the worth of a business How much is your business worth? The short answer is what someone will pay for it. There are several things to consider when buying or selling a business.
More
Don’t get done with vehicle finance 21 May 2012 - Don’t get done with vehicle finance ON TWO occasions recently we have picked up errors in car finance agreements. The customer was the loser both times.
More
New legal test for justified dismissal of employees 21 May 2012 - New legal test for justified dismissal of employees EMPLOYEES who have been dismissed can raise a personal grievance against their employer for unjustified dismissal.
More
Accounts chaos – paying bills with the wrong chequebook 13 Feb 2012 - Accounts chaos – paying bills with the wrong chequebook OUR client has an interest in a couple of companies and a family trust.
More
Database a valuable asset 13 Feb 2012 - Database a valuable asset THE most valuable asset on your computer should be your database of customers and prospective customers.
More
The UOMI monster 13 Feb 2012 - The UOMI monster UOMI is such a monster we make no apologies for repeating advice we have given in an earlier newsletter.
More
Tax laws tricky for work in Australia 13 Feb 2012 - Tax laws tricky for work in Australia IF YOU, or anyone you know, work in Australia, be careful. The tax laws are tricky.
More
Accounting slip-ups have big costs 13 Feb 2012 - Accounting slip-ups have big costs Simple errors made by small businesses are resulting in penalties worth thousands of dollars, tax experts say.
More
How to negotiate – and get nowhere 13 Feb 2012 - How to negotiate – and get nowhere ON 14 JANUARY the Dominion Post published a photograph showing representatives of the Myanmar Government and representatives of the Guerrilla Army of the Karen People.
More
Letters to the editor 13 Feb 2012 - Letters to the editor READERS sent us the following letters after our last newsletter. They add interesting information about the topics we covered.
More
LTCs, wages and cars 13 Feb 2012 - LTCs, wages and cars PROFITS in a Look-Through Company (LTC) are automatically shared by the shareholders in proportion to their ownership.
More
Take care of your bank account 13 Feb 2012 - Take care of your bank account HERE are some simple tips for making sure your bank account is looked after.
More
No-shows should be no goes 13 Feb 2012 - No-shows should be no goes DO CLIENTS or patients create a loss for you by not keeping appointments or cancelling at the last minute?
More
Time to get financial records in order 13 Feb 2012 - Time to get financial records in order THE financial year end is approaching. Now is a good time to get your financial records in order, and to prepare plans and budgets for the ensuing year.
More
The Law Commission investigates updates to trust law 13 Feb 2012 - The Law Commission investigates updates to trust law Rob Stock reports on stuff.co.nz on how The Law Commission has been investigating updates to trust law.
More
“LAQCs, once the darlings of the property boom, are on the wane.” 28 Oct 2011 - “LAQCs, once the darlings of the property boom, are on the wane.” Greg Ninness writes on stuff.co.nz how “LAQCs, once the darlings of the property boom, are on the wane.”
More
Taxman cuts more deals 28 Oct 2011 - Taxman cuts more deals Rob Stock reports on stuff.co.nz how “the taxman is doing more deals with struggling taxpayers, allowing them to pay overdue debt by instalment.”
More
Gifts get generous 18 Oct 2011 - Gifts get generous Susan Edmunds reports on nzherald.co.nz how “two weeks after gift duty was axed, accountants and lawyers are overwhelmed with calls from clients wanting to give assets and cash to relatives or family trusts.”
More
IRD cracks down with dawn raids 16 Sep 2011 - IRD cracks down with dawn raids Greg Niness reports on stuff.co.nz how “the IRD is cracking down on the hidden economy, launching dawn raids on the homes of people operating cash businesses.”
More
Back in black? 19 Jul 2011 - Back in black? This article appears courtesy of BDO. While the 2011 picture looks bleak – with a forecast operating deficit of $16.7 billion – Budget 2011’s focus is on pushing the economy ahead and back into the black by 2014/15.
More
Extension of redundancy tax credit 13 Apr 2011 - Extension of redundancy tax credit Due to the Christchurch earthquake, Peter Dunne, Revenue Minister of New Zealand, has announced an extension of the redundancy tax credit until 31 March 2011.
More
Change to small business definition 13 Apr 2011 - Change to small business definition On 1 January 2011, the definition of what constitutes a small business changed.
More
Changes to IR laws 13 Apr 2011 - Changes to IR laws New amendments to the Employees Relations Act have been enacted and will come into affect on 1 April 2011.
More
Australia and New Zealand’s Double Tax Agreement 23 Dec 2010 - Australia and New Zealand’s Double Tax Agreement New Zealand and Australia’s new double tax agreement entered into force on the 19th of March this year.
More
Voluntary disclosure of offshore income 23 Dec 2010 - Voluntary disclosure of offshore income In this new financial year, Inland Revenue will be closing in on individuals and businesses that fail to report taxable income from offshore.
More
Penalties for non-payment of employer monthly schedules 23 Dec 2010 - Penalties for non-payment of employer monthly schedules The IRD has been reinforcing its position with employers not meeting their payment obligation.
More
IRD introduces new tax rates 23 Dec 2010 - IRD introduces new tax rates The Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 introduces changes to secondary tax rates and new calculations for extra pays/lump-sum payments, effective from 1 April 2010.
More
IRD payments & allowances update 23 Dec 2010 - IRD payments & allowances update The IRD recently updated and clarified some of its legislation relating to the treatment of relocation payments, overtime meal allowances and sustenance allowances.
More
IFRS Compliance 23 Dec 2010 - IFRS Compliance Businesses should ensure they are complying with the new international accounting practices established under the International Financial Reporting Standards (IFRS).
More
Unclaimed millions list updated 15 Nov 2010 - Unclaimed millions list updated The IRD have made an updated list of owners of millions of dollars of unclaimed money available on their website.
More
Compliance Focus 2010-11 28 Oct 2010 - Compliance Focus 2010-11 The Inland Review has released a new document that outlines the ‘key themes’ and tends to any queries regarding their new compliance focus for this income year.
More
GST changes 28 Oct 2010 - GST changes With the GST rate increasing from 12.5% to 15% as of the 1st October, businesses and consumers need to start planning for a new environment.
More
GST and PAYE rate changes 27 Oct 2010 - GST and PAYE rate changes With the GST set to increase by 15% and the PAYE rates to decrease by the 1st October, businesses and organisation are planning for the change.
More
New Staff: Noreen Cody, AT 12 Jun 2009 - New Staff: Noreen Cody, AT Noreen Cody, AT has joined the firm. Noreen comes from a CA background including six years with one of the Big 4 accounting firms.
More
Launch of our new website 11 Dec 2008 - Launch of our new website Our new site has been launched.
More

Subscribe to e-news

Proud supporters of:

          

If you'd like to know more about these accounting service packages please contact us or click on the relevant logo.

Contact info

Level 11
AIA Tower
34-42 Manners Street
Wellington
 

T: 04 499 3903
F: 04 499 3913
E: info@pgpaccounting.co.nz

Client Resources    © 2012 Parbhu Gallagher Parag    info@pgpaccounting.co.nz

All information on this website is, to the best of the knowledge of Parbhu Gallagher Parag, true and accurate.
No liability is accepted by the Parbhu Gallagher Parag for any losses suffered by any person relying directly or indirectly upon this website.