Understanding your business breakeven point is essential to know how much money you need to make to stay in business. It can therefore help you make well-informed financial decisions and practical business plans. The breakeven point is the income or sales needed to cover all costs. Any earnings above this point generate profit. So your …
New Zealanders will soon have better access to open banking – but what is open banking – and what impact will it have on the way you shop and do business? Open banking is a secure shared infrastructure for moving financial information Open banking is a financial technology that uses an open API to send …
What are your business goals for the year ahead? The beginning of a new calendar year is an excellent time to review the year just finished and reflect on what worked, what didn’t, what you’d like to change and new things you’d like to implement. Last year, there were inescapable impacts on businesses, with some …
Review the year that’s been and plan for the year ahead Read More »
Merry Christmas from our team! The end of another year of twists and turns is in sight! As 2022 draws to a close, it’s time to start looking to the future. What Big Hairy Audacious Goal would you like to achieve in the next 10-25 years? Spend time over the holidays thinking about what you …
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. For instance, in a quick quiz, could you answer questions like: • Is our Christmas work …
If you’re a profitable business, you’re required to pay tax on that profit known as income tax. If your end-of-year tax bill is greater than $5,000, you will be required to pay provisional tax in the following year during the year. This is not a separate tax, but rather, it is income tax paid towards …
In tough economic times, defining your financial risks is a superpower. Identifying your financial risks and implementing mitigation strategies is key to surviving economic downturns. After all, if you keep doing what you’ve always done, you won’t keep getting what you’ve always got – you’ll get less. Everyone is feeling the pinch. Businesses are hit …
The season of giving is on us. While the fun part is thinking about parties and presents, take a moment to remind yourself about the tax rules. If your Christmas giving includes gifts to clients, remember that some gifts will be fully deductible while others will be only 50% deductible. Check out our Guide to …
Are we heading for a housing oversupply?For the past decade, New Zealand has had an undersupply of houses – the usual estimate was that we were about 75,000 properties short of what our population needed. The shortage was most acute in Auckland. Now, with house prices having dropped significantly and building consents at record highs, …
Since the Health and Safety at Work Act 2015 came into place, specialised advisors and consultants have been popping up all over New Zealand. But how do you know who’s genuine? Rebecca Jenkins from Livewire HR has some insights. It’s all about doing your groundwork. What should businesses look for when seeking help? The old …