The Government's response to the COVID-19 pandemic plays a big part in the 2020 Budget. This year's budget focuses on injecting funds into the economy to create and sustain employment.
The first day of a new job can be overwhelming for new employees. There are company policies and procedures to absorb, colleagues to meet, and job duties to learn.
Five new ways to do it.
As of 30 July 2019, the Trusts Bill has now become the Trusts Act 2019. The Act comes into force from 30 January 2021.
The new law on ring-fencing rental losses is now in force, which means:
From 1 March 2020, the IRD will no longer accept payment by cheque or cheques dated after 1 March 2020 from customers who are able to pay another way.
Spend a bit of time commuting or travelling for work? Podcasts are the new radio. Here are 10 free series that will educate and entertain whether you’re going long distance...
For small business owners, the risk of data breaches and fraud is high, so taking all the necessary steps to protect your sensitive data is a must.
Small business owners know that having loyal customers is an important part of business success. One of the best, and easiest, ways to do that is to have outstanding customer service.
We all know the usual process for finding new employees. Advertise a job. Read resumes. Conduct a telephone interview. Conduct a face-to-face interview. Choose someone.
Every manager has good habits that make them incredibly effective as well as bad habits that their employees wish they would change.
You may have heard the term ‘raving fans’. It’s a passionate subset, usually about 10-15% of your customer base, who are so in love with your business that they shout...
How this may affect your business & what you need to know
We came across an article called 'Can Online Tools Help Employees Build Resilience?' written by Allison Williams, Acacia Parks & Ashley Whillans.
Do you, as a business owner, pay income protection insurance on behalf of your employees? You have probably wondered what tax implications this has for your company in terms of...
When you run a small business, you're involved in your company's sales, accounting, marketing, and human resources, among other things.
The decision to raise your rates is a tricky one. But in the end it’s not the hike itself that’s important, it’s how you implement it.Netflix, for example, put its...
New Zealand has passed a law called the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“the AML/CFT law” for short).
Hundreds of Kiwi business owners are using payday filing – are you? If not, you’ll need to be by 1 April when payday filing becomes compulsory.
Ease cashflow by delaying payment until it suits you.
If you're like most people you've probably gone for periods of time without really thinking about how you spent your money.
Every business needs to have a plan in place to store their information in a secure, accessible and convenient place. The answer? Cloud storage.
The way contractors pay tax changed on 1 April, giving greater choice, and making it easier to get tax right.
You may provide company vehicles to some employees. In some cases, the vehicle is a work tool – for example, a ute for a project manager.
The Minister of Revenue has confirmed that a Supplementary Order Paper to the Taxation Bill has been introduced to extend the bright-line period from 2 to 5 years.
For most business owners I have met, their business is a part of them, a part of their identity.
All business owners need to be aware of their break-even point — that is, what they need to sell in order to cover their operating costs.
While New Zealand is hardly the money laundering capital of the world, we still see our share of shady activity.
They say an idea is all you need to start a business, but to get it on the right track from the start and generate future profit and cash flows,...
The turn of the year usually prompts most people to think about some business planning for the year ahead. Here are some tips to make the planning more productive.
How can you encourage positive word of mouth for your small business? Try these three strategies.
For many small business owners, hiring workers on a flexible basis is ideal – especially if paying regular salaries isn’t in the budget and/or the workload is variable.
You need to follow the following steps when paying contractors:
It’s been compulsory since 1 July last year for any new tenancy agreement to include an Insulation Statement.
Following on from last month's cash flow blog, we thought we'd go into more detail on how we approach cash flow forecasts.
The minimum wage in New Zealand will have increased from $15.75 to $16.50 per hour from 1 April 2018Minister for Workplace Relations and Safety, Iain Lees-Galloway, says the $0.75 rise...
Given the importance of keeping your PAYE and GST record-keeping and payments in order, it might be tempting to think that Fringe Benefit Tax, or FBT, is a relatively minor thing.
If you’re applying for an ACC CoverPlus Extra policy, it’s worth noting that the policy no longer starts on the date of the application, but when you sign the offer letter.
What does this mean?
Be honest: is email helping or harming your business?
Are you conducting research and development on home turf? You could be eligible for a tax credit of 15% on eligible R&D expenditure.
Remember when email was new and novel, and everyone thought it would vastly improve communication while freeing up time? It did improve communication on some levels and freed up employee...
The lead-up to the Wellbeing Budget has been well signposted even if the track’s been somewhat muddied by drama.
If you are a contractor already under schedular payment rules: You must complete the new tax rate notification form (IR330C) when you start any new job on or after 1...
If you receive income, you must pay tax. So if you have rental income, you have to pay tax on it, right?
Do you hate it when GST return time rolls around? If so, you’re in good company.
A key principle of the tax system is taxpayers should pay tax as income is earned.
Taxpayers who earn income from various sources may get caught short if they don’t plan ahead. This could come about in various ways:
Regardless of whether you’re a startup or a well-established business, the ‘cash is king’ adage will always ring true.
Parliamentary plastic surgery is in store for the Trustee Act, to make trust law easier to access and understand.
Provisional tax and GST are due on 15 January.
Fifty years ago, farmers and others sprayed toxic chemicals onto weeds in blissful ignorance of the need for personal protective equipment.
Do you have a family trust? Thinking of forming one as a way to future-proof your assets for you and your children? Take note – the Trustee Act is getting a makeover. While there are still a few parliamentary hurdles to jump, now’s the time to get your head around what the new bill will mean for you and your business.
One of the first questions business owners ask when a new government enters power is what changes, if any, are coming in the area of tax.
Whether you’re starting a new business or have an established business, understanding your cash flow is one of the most important aspects of business management.
Many accounting firms operate in a very similar way. You as the client operate your company, you provide your accountant with the numbers, and the accountant crunch them into viable...
Australia has introduced goods and services tax (GST) legislation relating to ‘low value’ imported goods and services
Although recent reports in the media speak of a business climate that’s declining in confidence, in the small business sector – including the trade and construction industry – employment trends...
Cash flow is a critical component of small business success. This is especially true if you run a trade business.
Recently the Mood of the Sales Leader Report 2019* was released. We thought we’d share with you the key highlights from the report.
If you haven't given any thought to what your retirement will look like, now's a great time to start.
Changed Research and development (R&D) tax credit rules, which came into effect at the start of the 2016 income year, can help business cashflow.
Money laundering is big business in New Zealand. Every year $1.35 billion of fraud and drug related money is laundered through seemingly legitimate businesses.
The purpose of a business is to make money, and that means you have to know the difference between profit and cashflow.
Get a clear cashflow picture before third quarter.
If you use Airbnb to provide short-term accommodation in your house in which you also live, the IRD’s “mixed-use asset (holiday home)” rules don’t apply and guests are not classed...
Are you planning a Christmas event for your clients? Is gift-giving on your to-do list?
New Zealand is a “standout nation” according to the latest Digital Evolution Index, released by Tufts University in Boston in July.
While it’s easy to think of business culture as a bit soft compared with, say, achieving sales, in fact it’s anything but.
IRD’s been working hard to be easier to do business with. As you read this, its new tax system is kicking in, giving you new and simpler ways to manage...
A tax bill passed in May made changes that affect cashflow.
If you rent out your holiday home sometimes, you may have to pay tax on that income.
Sometimes boats and aircraft are used for private and commercial purposes. In such cases, the income from their use may be liable for tax.
A threshold for reportable tax debt is now in effect, giving creditors greater protection from businesses owing debts of more than $150,000.
Minister Judith Collins recently said that correcting simple tax errors and sending that information to Inland Revenue was still largely manual and may be costing business.
Getting a job at Google is reportedly 10 times harder than getting a place at institutions like Harvard or Yale. The company employs 7000 people a year, from 3 million applicants.
From April 2018, small businesses, sole traders and contractors can choose a new pay-as-you-earn option, rather than paying provisional tax in instalments several times a year.