Further cuts to ACC levies

ACC must collect sufficient funds to cover the costs of all current and past claims. In 1999 the Government realised funding was insufficient to cover on-going costs of pre-1999 claims and therefore, introduced a ‘residual levy’ to build up adequate funds.

 

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Fit staff / Fit business

Productivity, budgets, utilisation, cash flow and market penetration are all areas that most businesses focus on as they strive for improved performance and growth. However, many organisations are also exploring and implementing ‘healthy’ initiatives that provide the dual benefit of improving the health of their employees, and the business.

 

Sick days and staff turnover

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Doing your own Due Diligence

When purchasing a business it is important to understand its value. The value of a business will ultimately determine whether to purchase it and if so, how much to pay. A number of factors need to be considered when determining the value of a business, including; it’s financial position, future forecasts, existing customer relationships, staff structure and relationships, why the current owner is selling, your future exit strategy, and the list goes on.

 

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Changes to closely held company tax rules

In New Zealand, companies are often the preferred vehicle when setting up a new business. They are well understood, underpinned by well-functioning legislation, flexible, and liability is generally limited to the amount of a shareholder’s investment.

 

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GST on foreign supplies

Imposing Goods and Services Tax (GST) on the digital economy has been a hot topic this year as New Zealand retailers push for equal GST treatment between local and foreign suppliers.

 

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Inland Revenue scrutiny

In the past, an IRD audit could be commenced for no other reason than the business had not been audited in recent years. Audits would start with the stereotypical interview comprising a series of broad questions that may or may not apply to the business, before the investigator would commence trawling through invoices looking to see if everything is in order.

 

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Visitor’s book worth shouting about

Many home-stays ask guests to fill in the visitor’s book. The home-stay operators are usually happy with the comments, but that's usually where it ends. Why leave great comments for only future guests to see?

 

Visitor book comments are often useful testimonials, so worth shouting about.

 

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Don’t be timid – negotiate with the bank

Here's a story about the owner of a small house in a North Island provincial town who's on a modest salary.

 

He was paying interest on his mortgage at 6.2% and noticed he could borrow from the same bank at 4.9%. As he had enough equity in his home, he went to the bank and asked if he could get another mortgage at 4.9% so he could repay some of his 6.2% mortgage.

 

He negotiated the following:

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