Cloud programs help you keep up

Keeping up with technology has always been an issue for small businesses.


As a rule, it’s worth having the latest and the best you can realistically afford. This ensures you are at least level, and possibly ahead, of your opposition and your clients who expect you to be keeping up. 


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Understand your term investments

When you invest money on a term deposit, you’ll find a perplexing number of options, which are hard to assess. 


A client put $100,000 on a term investment for five years with interest at 6% payable at the end of each quarter. A few months later, another $100,000 was invested, also at 6%, but payable at maturity. The first yielded $27,887.52 interest after tax and the second only $24,750.


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The Dominion Post reports…

New health and safety legislation has forced Sir Peter Jackson to resign as a director of Weta Workshop, The DominionPost has reported. The article says directors can be personally responsible for the health and safety of their staff. This can be an untenable situation. Look carefully at your directorships and assess the risks.  Many small companies have husband and wife as directors. Maybe there is a case for having only one.

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New tax rules coming

From 1 April 2017 there are going to be a number of significant tax changes. Proposals include the following:


Use of Money Interest (UOMI)

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Time to Sell?

We are all going to exit our business one day.


An exit plan is as important as a business plan. Ideally your business will be saleable shape all the time so that if the unexpected happens you still maximise the price you receive – a just reward for your years of love and labour in your company.


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Slammed for Gross Carelessness

A self-proclaimed tax agent has been found by the Taxation Review Authority (TRA) to have taken an unacceptable tax position and demonstrated a high level of disregard for the consequences of claiming GST refunds over a two and a half year period.


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Compulsory Zero-rating of Land

The compulsory zero-rating (CZR) of land rules have applied since 1 April 2011. The rules were introduced to combat a pattern of transactions where Inland Revenue (IRD) was paying GST refunds to land purchasers, but there was no corresponding GST returned by the vendor.


Although simple in principle, mistakes are being made. To recap, the rules require a transaction that wholly or partly consists of land to be zero-rated if:

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Holiday Pay Mishaps

As seen through the media recently, errors within holiday pay calculations are more common than we’d like to think and not just limited to Government organisations. Due to the complexity of the calculations required to monitor and record holiday pay, errors or deviations from the Holidays Act 2003 (the Act) requirements can occur. 


This can result in under or over payments to staff.


Common payroll mistakes include:

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