Just a reminder that from 15 September 2022, the monthly retail price of Xero Starter, Standard and Premium plans is increasing in New Zealand by $2 + GST. If this affects you, you will notice a change in the October invoice from us to you. Please ensure that you update your monthly payment. If you …
The impact of Covid-19 has shown us that even profitable businesses can go broke if they run out of cash. Understanding and managing your cash conversion cycle frees up your cash and helps you build a cash war chest to get you through tougher times. Your cash conversion cycle is the number of days your …
Shortening your cash conversion cycle to free up cash Read More »
As an employer, if you provide fringe benefits to employees or others associated with your business, you must generally pay fringe benefit tax (FBT) on the value of these benefits. So, when are you liable for FBT? Any time you provide non-cash benefits to your staff. The list is potentially endless but in practice, most …
Inland Revenue was taking a much more relaxed approach to outstanding tax debt during 2020 and 2021 – but now it’s ready to crack down. Since the start of July, it has stepped up its efforts to pursue outstanding amounts from local businesses. PAYE and KiwiSaver payments will be the first priority The amount of …
There have been a lot of rule changes for trusts over the past few years – and now Inland Revenue has introduced another tweak, one you need to know about if you use trusts to protect your assets. Who’s who when it comes to trusts To understand the new rule, you need to know the …
Watch out for new trust rules that have the potential to put your assets at risk Read More »
From 15 September 2022, the monthly retail price of Xero Starter, Standard and Premium plans is increasing in New Zealand. Click the button below which will take you to the page that tells you more. If you have any questions, please let get in touch. All pricing is in NZD and excludes GST Pricing Changes
Are you renting accommodation from your home, through Airbnb or some other way? For tax purposes, short-stay or holiday accommodation is different from accommodation provided to tenants, boarders or care home residents, or student or emergency accommodation. We’ve seen a huge uptick in short-stay accommodation provided by householders, typically through Airbnb. A short stay is …
Certain types of payments received by contractors are known as ‘schedular payments’. The schedular payments regime determines the rate of tax taken out of contractors’ pay. The tax on schedular payments is known as withholding tax. If you’re a contractor, you may be able to choose your own tax rate. Contractors in some industries can …
Cryptocurrency? Bitcoin? The blockchain? Did you dive in as an early uptaker or are you still getting used to the terminology? From the start, the cryptoasset sector has attracted people fascinated with emerging technology and keen to explore its potential for wealth creation. Inland Revenue has released guidance on various aspects concerning cryptoassets and taxation …
Would your business still thrive, or would it suffer a catastrophic failure if you suddenly stepped away? It’s tough to remove yourself from the day-to-day operations when you’re passionate and busy. However sudden accidents, illnesses, or family emergencies can – and will – happen and you need to be able to step back knowing your …