Tax time is just around the corner and this last year hasn’t exactly been an easy one for most NZ businesses. What with lockdowns, supply chain issues, and inflation, it’s nice to know that the Government understands the effect that COVID-19 has had on small businesses and is providing tax relief and income assistance […]
Everybody loves a deal, don’t they? We’ve made it through Christmas and the Boxing Day sales, next up is the New Year sales, followed by Waitangi Day deals, then Valentines Sales, the list goes on. It almost seems like consumers would be crazy to pay full price for items when they can just wait […]
Unless you’ve got a business that caters to the holiday herds, chances are you’re going to notice a slowdown of activity from Christmas through to as late as the end of February. So how do you protect yourself against the inevitable summer slowdown? Read on to discover some useful tips and strategies on planning, […]
So what is cloud accounting? Simply put, cloud computing is the delivery or availability of computing services via the internet. It could be for such things as storage services, software, analytics tools, or accountancy services. It gives users access to accounting technology on a subscription basis – you pay a monthly or annual fee, […]
The clocks have changed, flowers are blooming, lambs are skipping, and the mercury is rising; all signs that spring is in the air. Tradition tells us that this is the time to have a good clean-up and clear out of your house, but what about dusting off the proverbial cobwebs from your finances? Setting aside […]
Even though we’ve been here before, it doesn’t seem to make this nationwide Alert Level 4 lockdown any easier to deal with the second time around. Thankfully Finance Minister Grant Robertson announced last week that the Government has reinstated their Covid-19 Wage Subsidy Scheme and Resurgence Support Payment (RSP). Businesses that meet the criteria could […]
New Zealand is a nation of small businesses, so it’s important to acknowledge their importance. They are arguably the backbone of New Zealand’s economy, so we would love to dedicate this blog to giving tips for small businesses to set financial goals for themselves. Small businesses are those with less than 20 employees, and there […]
Cryptoassets have become increasingly popular lately among individuals. They are defined by IRD as “cryptographically secured digital representations of value that can be transferred, stored or traded electronically. They use some form of distributed ledger technology such as blockchain.” An example of a cryptoasset that you may have heard of recently are cryptocurrencies like Bitcoin, […]
The tax year is from 1 April to 31 March, so we’ve just entered the new 2021 tax year. The overall goal for the tax year that Inland Revenue (IRD) strives to help you with is that you pay the right amount of tax at the right time so that you don’t overpay during the […]
Here in New Zealand, it’s important to acknowledge that we have been luckier than other nations in terms of our COVID-19 situation. However, the situation is still present here and is still affecting people and businesses. IRD have said that if you are unable to pay personal or business taxes on time due to any […]
To start off with – what are tax codes? Tax codes are different from tax rates. Tax codes are only for individuals. They help your employer work out how much tax to take out of your pay, benefit or pension. You need to work out your tax code for each source of income you receive. […]
Have you started a small business and want to know more about your GST options? Well, look no further. GST (Goods and Services Tax) is a tax that is added to most goods and services usually at a rate of about 15%. If you sell goods or services then you may want to look into […]
Need an extra hand managing your income tax? Well, provisional tax can help! Provisional tax can help you manage your income tax by paying instalments during the year instead of a huge lump sum at the end of the year. So, how do you know if you have to pay provisional tax? You’ll have to […]
It may seem like a lifetime before our economy goes back to normal again, but New Zealand is turning around a lot faster than any other country. And while you may be preparing for your next steps as a business, the Ministry of Social Development (MSD) have initiated the extreme task of auditing some applications […]
Is your business still facing the consequences of COVID-19 – even in level one? Well, look no further… IRD has provided us with some tax relief and income assistance if your business has had a major drop in revenue over the past few months. If you feel as though you are struggling to pay your […]
The new Small Business Cashflow Scheme (SBCS) means that small to medium business owners (including sole traders and the self-employed) may be able to grab themselves a one-off loan if they have been negatively affected by Covid-19. If you have had a huge loss in revenue during the lockdown period and now your business is […]
Who would’ve thought that 2020 was going to be the year of a pandemic? And boy has it hit NZ businesses hard! With over hundreds of local New Zealand businesses in fear that they will have to close their doors for good, it’s no surprise that many business owners will be doing anything they can […]
We are keeping this post updated throughout the NZ Covid-19 pandemic. Keep checking back here or on our Facebook page for the information. With everything happening right now in New Zealand we wanted to give our clients a simpler run down on what actually the Government is offering in their Business Continuity Package. Click here […]
Want to boost sales in your business? Then don’t offer a discount! Sounds strange, doesn’t it? As often a common strategy for getting some quick dollars in the door is to have a sale or offer a discount. But, you could actually be doing your business harm by using this tactic. In fact, it could […]
Cash flow is a key component in the success of any business. Without it, you will soon find yourself in financial hot water. If you don’t have funds coming into your accounts regularly, then you may not have money available to pay your bills or wages when they are due. One of the biggest threats […]