Buying an established business is a great way to enter into the business world, or to expand your existing business empire. But purchasing a company isn’t something to enter into lightly. Becoming the prospective owner of a new business means doing your homework,...
Thinking of applying for a home loan? Here are some tips to help you prepare an application that’s more likely to be approved. You may need to go on a financial diet before you apply – When you apply for a mortgage, a bank will typically analyse the statements...
We don’t yet know exactly how the new National-led coalition government will be formed. But we do know that National pledged to make some major changes to tax if it came into power. Here are some of the changes that could affect you: Tweaks to tax brackets National...
Steady cash flow is the fuel that powers your business, but when you’re busy doing a million things at once it can easily slip to the bottom of the priority pile. Here are some tips to keep the cash flowing while you’re growing: Invoice quickly – good debtor...
You may be used to thinking of financial statements purely in terms of your annual tax return but for success in business they need to be much more than that. As a business owner/operator, it is essential that you understand your financial position. Understanding the...
As a new business owner, it’s important you understand the provisional tax system as it affects your business. In your first year of business, you can receive a significant tax deferral. Your first year’s tax bill is, in some cases, not payable until 7...
Why is cashflow so central to good financial management? Here’s our plain english guide. What is cashflow? Cashflow refers to the movement of money into and out of your business over a specific period. In the most basic terms, cashflow is the process of cash...
GST apportionment has been around for a long time, but it has changed over the years. You can claim input tax deductions on purchases of goods and services you use to make taxable supplies. Where assets are used both to make taxable supplies and for private use, you...
Need some extra cash to take your business to the next level, but daunted by the loan process? You’re not alone. There’s a lot of paperwork and number-crunching involved. Before you get started, remember that banks wants your application to succeed as the...
Does your business use both employees and contractors? It’s important to distinguish between them as they are paid and taxed differently. Despite what you may call the individual concerned, that description is not definitive. If the status of the worker is questioned...
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