Always check your ACC account

YOUR ACC account could easily be wrong. Always check it. 

 

Typical areas where the wrong premium can be charged include:

 

  • Selecting the wrong industry for your type of work.

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How to reduce bad debts

PREVENTION is better than cure when reducing the number of bad debts.

 

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Computer backups

HERE’S a checklist to help you keep your data safe:

 

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Voluntary withholding agreements

SOME contractors don’t have to have withholding tax deducted from their income. As a consequence, they have substantial provisional tax liabilities. Some people prefer to have some tax deducted as they go. It's proposed that from 1 April 2017 they will be entitled to require the payer to deduct withholding tax at a rate they choose, so long as it's at least 10%.

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Contractors to labour hire firms

IF you contract to a firm hiring labour, from 1 April 2017, the withholding tax deducted from your income will be at the rate of 20%.

 

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Get the flight right

BE careful when booking flights on line. 

 

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Trustees need to minute their decisions

IF you have a family trust, be fussy about recording trustees’ decisions. 

 

One problem that arises is taking money out of the trust for your own use. This can be:

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Choose your internet service provider with care

A COUPLE of months ago some horrendous stories were published in the daily papers about businesses unable to function because they could not get their internet connection repaired. 

 

One firm in Auckland was without the internet for five weeks. One supplier said: “The average time to fix the fault has increased to more than 60 hours, with some customers waiting considerably longer.”

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