How would it feel to wake up on the 1st January each year to know that you have already banked 10% of your revenue for the year? Too good to be true? Well a lot of successful businesses do just that, and more. Smart companies look for the opportunity to create recurring revenue streams. There …
If you have ever watched the enchanting Australian film, The Castle, you’ll be familiar with the expression, “it’s the vibe’. Bungling defence lawyer Dennis Denuto seeks to have a planning decision overturned in an Australian court on behalf of his client. Stuck for an effective argument, he ventures to the judge that “it’s the vibe”. …
A large order or a new market can seem like the breakthrough any small business has been looking for. But for some, the breakthrough turns to despair if there is no plan. Angus was recently interviewed by the New Zealand Herald about advice for SMEs undergoing fast growth. He talks about what he calls the …
Changes are afoot with the tax treatment of foreign superannuation schemes. The Government has introduced a bill to make changes to the way it taxes income from foreign superannuation schemes. The changes will apply to the following people: New migrants who are New Zealand residents New Zealand residents with foreign superannuation schemes New Zealanders returning …
Using contractors over employees can seem attractive. There is no need to pay holiday pay, PAYE, ACC or Kiwisaver contributions. As a business owner, you can turn the contractor’s services on and off at will. Yet there is nothing cut and dried about the distinction between employees and contractors and it pays to step carefully …
Kiwisaver and Total Remuneration With the increase in Kiwisaver contributions from 1 April, a number of our clients have asked whether there is anything they can do to actively manage this cost. It would seem a mild certainty that Kiwisaver contributions will increase in the medium term given the announcements from various political parties. In …
Why a shareholders’ agreement is like a pre-nup Often the last thing on anyone’s mind when they start a business is how the business will operate down the track. During a business start-up phase owners are focused on business development, marketing and product development. Legal and accounting issues are put on the back burner to …
Changes to Tax Treatment for Beach Houses, Boats and Aeroplanes We have had a number of enquiries around the proposed changes announced in Budget 2012 regarding beach houses and we thought we should give everyone a quick update. The proposed changes applies equally to boats or aeroplanes. The IRD have indicated that they want to …
Tax on the Beach House – Mixed Use Assets Explained Read More »
Fringe Benefit Tax: What is it and do I have to pay it? There was a time when employers could offer non-cash benefits to their team members as a way of increasing their remuneration. The team member could avoid paying income tax on those benefits as a result. Fringe Benefit Tax (FBT) was introduced in …
Fringe Benefit Tax: What is it and do I have to pay it? Read More »
