Accounting basics: the profit and loss and balance sheet reports

Understanding your finances is a vital part of running your business. But getting down into the nitty gritty of the company accounts isn’t every entrepreneur’s top skill. If you are new to company accounting, or simply want to expand your knowledge, we can help...

Want to get paid faster? Try these tips

Xero's Small Business surveys show that almost half of invoices are paid late. Late payments are one of the most frustrating things a business can face. Here are 6 tips to get paid faster. Review and adjust your payment terms and pricing - Think about how much time...

How’s your work-life balance?

It’s great to be the boss – you can work any hours you like, right? Unfortunately, for many business owners, that means long hours, plenty of stress, and very few breaks and holidays. A survey done by Statistics NZ found that: 21% of employers work 60 hours per week...

The value of cashflow forecasting during a crisis

Projecting your cashflow pipeline forwards during a crisis is vital. To be able to navigate the future path of your cashflow, you need to start forecasting – so you can map out your financial position over the coming months and can take the appropriate action to...

New rules for Trust Compliance

With a new top tax rate of 39% now in place, other tax rules have also been tweaked to make sure they all align. Trusts now have new rules on disclosures, in an effort to prevent people from using trusts to avoid paying additional tax. Previously, trusts have not...

Banks introduce new mortgage lending restrictions

In June this year, the Reserve Bank received approval for a new tool to rein in house prices and control debt levels: debt-to-income (DTI) ratios. Now, some of the banks have decided to move first. BNZ has introduced a DTI for all its borrowers, and ASB has confirmed...

Is your business focused enough on cyber-security?

We live in a digital world where our company’s data and (crucially) our customers’ data is under constant attack. Hackers are always looking for new ways to break into your systems and databases – and this has resulted in many significant data breaches in recent...

10 Tips for keeping track of business expenses

It’s surprising how small stuff adds up: dashing into the dairy on the way to work because the lunchroom’s out of milk. Scrambling out of the taxi at the airport to catch an early flight for that business meeting. Things you can forget about as you do the important...

GST made easy

Do you hate it when GST return time rolls around? You’re in good company. For many business owners, the pain isn’t so much having to pay the tax but having to prepare and file a return. But that pain is easy to avoid. Here’s how: If we complete your returns, of course...

Contractor vs employee: Getting it wrong could be costly!

Is that team member an employee or a contractor? It’s important to know the difference, because getting it wrong could be an expensive mistake. The Employment Court has recently issued three warnings to employers who have tried to label their employees ‘contractors’,...
How’s your work-life balance?

How’s your work-life balance?

It’s great to be the boss – you can work any hours you like, right? Unfortunately, for many business owners, that means long hours, plenty of stress, and very few breaks and holidays. A survey done by Statistics NZ found that: 21% of employers work 60 hours per week...

read more
New rules for Trust Compliance

New rules for Trust Compliance

With a new top tax rate of 39% now in place, other tax rules have also been tweaked to make sure they all align. Trusts now have new rules on disclosures, in an effort to prevent people from using trusts to avoid paying additional tax. Previously, trusts have not...

read more
GST made easy

GST made easy

Do you hate it when GST return time rolls around? You’re in good company. For many business owners, the pain isn’t so much having to pay the tax but having to prepare and file a return. But that pain is easy to avoid. Here’s how: If we complete your returns, of course...

read more
Creating a small business budget

Creating a small business budget

Small business budgets are empowering. They give you the knowledge and insight to eliminate wasteful spending and get to profitability faster. When setting a business budget, you need good numbers. Don’t guess at what’s coming in and what’s going out. You could be...

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Which capital gains are tax free?

Which capital gains are tax free?

New Zealand does not have a capital gains tax. However, some capital gains are taxable. These include the gains made on some property sales, and sometimes on the sale of shares and other assets. Rather than listing which gains are taxable, it’s simpler to tell you...

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Understanding Your Statement of Cash Flows

Understanding Your Statement of Cash Flows

The statement of cash flows, (also known as the cash flow statement), shows how your business has generated and used cash (and cash equivalents) within a specific time period. For each of the reporting categories, receipts and payments are listed (money in and money...

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Claiming home office expenses

Claiming home office expenses

Are you a sole trader? If you do some of your work from home, you may be entitled to claim a tax deduction for household expenses related to earning income, such as rates, insurance, power, and mortgage interest. The amount you can claim is based on the area of your...

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