SME interest rates may choke growth
Our MD, Angus Ogilvie, was recently interviewed by the Stuff website on the potential impact of higher interest rates on SMEs. You can read more here.
5 budgeting tips for business
We know budgeting can seem like a chore but it is just so essential. So we’ve given some thought to some tips that may help in preparing your next budget. 1. Use Xero Xero contains a budget template which enables you to keep track of your budget when compared with actual revenue and expenses. We …
Accountant, CPA or chartered accountant? What’s the difference?
Accountant, CPA or Chartered Accountant? What’s the difference? For many years chartered accountants enjoyed special privileges under the law. Some time ago, chartered accountants lost their exclusive right to set accounting standards. In addition, chartered accountants had their monopoly on auditing companies taken away from them as part of the reforms brought about by the global …
Accountant, CPA or chartered accountant? What’s the difference? Read More »
Is the end of Provisional Tax Nigh?
It’s not often that discussions on the provisional tax system generate much excitement but comments from the new Minister of Revenue recently have certainly got tongues wagging. Todd McLay recently raised the possibility of getting rid of provisional tax as part of the IRD’s upgrade of its computer systems. There’s little doubt that provisional tax …
3 Key Financial Metrics to Measure Performance
We are often asked about the sort of financial information that should be monitored by business owners. Financial metrics as a quick and easy way to check profitability and to use as an early warning system for any potential issues. There are any number of different metrics that can be utilised and some are specific …
The Battle of the Sexes – SME Growth
With a growing number of female SME owners, business surveys are now routinely scrutinising the performance of men and women. We are not so sure that we can readily draw conclusions but as SME growth experts, we were recently asked by Stuff to do so. You can read our best attempt here.
What is a Shareholders Current Account?
What is a Shareholders Current Account? This is probably the most common question we get when we sitdown with clients to review a set of accounts. So we thought we would try to explain it without using all the accounting terminology. The current account(s) sits on the balance sheet and every year it shows a …
Are Travel Expenses Tax Deductible?
Is Business Travel Tax Deductible? We are often asked whether travel in New Zealand or overseas is tax deductible. For any expense to be tax deductible, there must be a “nexus” between income and expenditure. In other words, any expenditure the business incurs should be related to earning income in some way. So for any …
Should you Lease or Buy?
Should you lease or buy? Our clients often ask whether they should leave or buy. Most businesses face this question sooner or later whether it be for property, plant or equipment. One of the myths is that leasing is more tax efficient. But with so many things in life, that depends. Certainly if you like …
There’s no Capital Gains tax on property…is there?
While there is no capital gains tax per se, there are certainly situations where gains on the sale of property are taxable. There are a number of activities under the Income Tax Act that could give rise to a tax problem: 1. The Property is bought with the intention of selling it. Intention is the key area …
There’s no Capital Gains tax on property…is there? Read More »
