GST invoicing changes from April 2023
New rules modernising GST invoicing and record-keeping requirements apply from 1 April 2023. The key change is removing the requirement to issue and hold a “tax invoice” document (which meets certain prescribed requirements on details required), and instead having GST…
Read MoreStressing about your work/life balance?
Trying to get perfect the work/life balance can be a cause of stress in itself. If you are feeling the strain of building your business and maintaining your life the good news is that stress and a productive existence can…
Read MoreNewsletter – End of Financial Year
Wow, here we are again almost at the end of another financial year. We can’t believe how fast time has flown since Christmas. Maybe it’s because of the awful weather we have had! Office Updates As a lot of you…
Read MoreTop tips for getting your financial year end work completed quicker
A new financial year is upon us and that means that it’s time to check the accuracy of your financial information in your accounting software for the past financial year, and to gather the documentation that we, as your accountant,…
Read MoreSupport for businesses hit by Cyclone Gabrielle
If your business has been impacted by Cyclone Gabrielle, you may be able to get support from your bank and/or the Government. Here are some of the packages available to businesses across New Zealand: $2,500 cash support available from Westpac…
Read MoreHow staff training expands the skill-set of your business
Spending time and money on staff training is a must. When your employees can see that you’re invested in their future, they feel valued, empowered and engaged with your company vision. That’s excellent news for your employee satisfaction scores and…
Read More5 signs you’re undercharging
Are you undercharging for your services? It can be hard to tell, particularly if you’re in a niche industry or you’re a contractor. Costs have been rising, so it may be time to rethink your own pricing. Here are five…
Read More5 goal-setting tips for 2023
Whether you want to grow your business or take more time for yourself, these goal-setting tips can help you achieve your long-term plans. We can help Not sure what your goals should be or how to monitor them? We can…
Read MoreHoliday pay sorted?
Working out what an employee gets paid for taking a day off on annual holidays will depend partly on what they have earned in the previous 12 months because they must be paid for holidays at these average weekly earnings…
Read MoreWhy customer success is vital for your small business
Enhancing your customer experience is the key to success for any business. It’s not just about making a sale but about keeping your customers happy and coming back for more. In short, it’s about pushing the idea of customer success…
Read MoreHow to stay competitive in your industry
It’s difficult to make your business stand out from the crowd, especially in the 21st century digital environment where businesses large and small are competing for the same customers. Remaining competitive is vital for any business. If you stay ahead…
Read MoreTricky tax questions at Christmas time
No matter how well you’ve planned in advance of the Christmas flurry or whether you’re still taking care of last-minute items, be aware of what you can claim tax deductions for, or where you might be liable for tax Here…
Read MoreYour car as a business expense: what can you claim?
Being self-employed can be tough – but it does have its advantages. One of those advantages is the possibility of being able to allocate some of your costs to business expenditure, so you reduce your tax bill. That includes your…
Read MoreEntertainment Expenses – Income Tax & GST
As a general rule, if you provide entertainment for your team or clients, some of your business entertainment expenses are tax deductible. Some examples of fully deductible entertainment expenses are food and drink: Some other entertainment expenses are only 50%…
Read MoreBusiness Tip 8: Hiring employees for your startup
When setting up your new venture, the people you hire may well become the most important assets in your business. They’re your trusted workforce, the face of your new brand and the people you’ve entrusted with getting your business idea…
Read MoreNewsletter – October 2022
Welcome to the last quarter of 2022! We are not sure where the year has gone but we are already thinking of Christmas! As we have been working our way through various clients files this year, we have come across…
Read MoreBusiness Tip 7: Getting your operations up and running
If you are ‘pressing go’ on your new business, what are the key elements to have in place before you begin trading? The complexity of your operational model will vary greatly, depending on the kind of business you’re setting up.…
Read MoreBusiness Tip 6: Getting funding for your startup
A great business idea is an excellent starting point for a company. But without funding to provide the necessary capital, your business idea could be dead before it’s even begun. To quote a well-worn phrase, ‘Cash is King’ and that…
Read MoreUnderstanding Your Balance Sheet
To understand the financial position of a business at a specific point of time, look at the balance sheet. The balance sheet may also be called the statement of financial position. Together with the Profit and Loss Statement, and possibly…
Read MoreShould you have received the Cost of Living Payment?
You may be eligible for the Cost of Living Payment – even if it hasn’t arrived in your account. If you earned less than $70,000 between 1 April 2021 and 31 March 2022, you are eligible for the one-off $350…
Read MoreBusiness Tip 5: Defining your business idea
Having that Eureka moment when you cook up a great new business idea is a great moment. You’ll be full of ambition and eager to begin building your startup. But once you’ve had that initial rough idea, how do you…
Read MoreProfit vs Cash
There’s a massive difference between profit and cash. Let’s explore the differences to make a better plan to increase both. 1. Sales.Profit increases when you increase sales; cash increases when you collect the money from customers. To increase both your…
Read MoreBusiness Tip 4: Getting in Control of your Spending
Keeping the business in a positive cashflow position is vital. But you can only do this if your cash inflows (sales revenues and other income) outweigh your cash outflows (overheads, supplier costs and other liabilities like tax costs or loan…
Read MoreBusiness Tip 3: Nurturing your Customer Relationships
The stability of your business isn’t just based on sound finances. Forming rock-solid foundations comes from having a solid customer base and building long-lasting relationships with your end users. To achieve this, you need to work hard on nurturing these…
Read MoreDon’t burn out this winter!
It’s tough going for business owners this winter. Illness is rampaging through the community – it’s hitting staff, suppliers, clients and schools, creating disruption throughout the economy. With the labour market tight, businesses are already understaffed. Add high rates of…
Read MoreBusiness Tip 2: Budgeting and Managing Cashflow
If you want to stabilise your finances and grow the business, working to strict budgets becomes a necessity. Managing the cashflow twists and turns of a project can be hard work. But it’s easier to do when you have an…
Read MoreHow much is our work taxed compared to other countries?
The Organisation for Economic Cooperation and Development (OECD) recently released its latest Taxing Wages 2022 report, and it’s interesting to see where New Zealand falls compared to other developed nations when it comes to tax. One of the purposes of…
Read MoreBusiness Tip 1 : Using forecasting to help your decision making
Producing regular management information is one way to help improve your business decision-making. But looking at historical numbers can only tell you so much. In business, you want to know what the future holds. And to make truly informed decisions…
Read MoreVehicle running costs are high these days!
Inland Revenue just released its kilometre rates for the latest tax year, which indicate running costs for vehicles. For the first 14,000km travelled each year, the rate is 83 cents per kilometre, which comes to a total of $11,620 –…
Read MoreWhich new tax changes will affect you and your business?
There are more than 100 tax changes that took effect this financial year, and some of them may be relevant to you. Here’s a brief summary of what’s happening: Matariki is now a public holiday for tax purposes.GST is being…
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