Xero Price Increase Xero have announced that prices for their Standard and Premium pricing plans are increasing by $5 per month from the end of September, 2018. Standard plans will increase 9% to $60 per month, with Premium plans rising 7% to $75. Prices exclude GST. We are sure this is not welcome news but […]
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Employee Share Schemes and Tax Changes apply to the tax treatment of employee share schemes from 29 September, 2018. The changes relate to the amount and timing of income for the employee. What’s the big deal? Changes to income tax legislation have introduced the concept of a share scheme taxing date. The impact of this
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GST and AirBNB Some homeowners are being impacted by GST and AirBNB. We have put together a blog covering some of these issues to ensure that people think carefully before becoming an AirBNB host. AirBNB is proving to be a very popular way of generating some spare cash for homeowners with spare bedrooms. The online
Payday Filing Payday filing allows employers to replace the IR348 Employer Monthly Schedule form with online submission every payday. Online submission is currently voluntary and has been available since April, 2018. From 1 April 2019, all businesses employing staff will need to transition to filing employment information monthly to every payday in line with their normal
Anti-money Laundering and Accountants Anti-Money Laundering legislation will impact Accountants from 1 October this year. What is Money Laundering? We have reprinted the information from the Department of Internal Affairs in italics below. Money laundering is the method by which people disguise and conceal the proceeds of crime and protect and enjoy their assets. Some people in
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Sales Activity Numbers Don’t Lie Sales Activity numbers don’t lie. In fact, they are the single most important factor in any small to medium business. Sometimes in the hectic world of small business it can feel like you don’t have control of anything. But that is not true. There is one very important part of
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We’re on the Move! Generate Accounting is on the move to brand new premises. The Auckland City Mission is taking over our existing building and we have been asked to move out to accommodate them as they rebuild their Hobson Street site. So from Monday 20 August, 2018, we’ll be situated in new offices at
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New Mileage Rate Method Announced A new mileage rate method has been announced by Inland Revenue. Every year the department sets out the rates for various categories of vehicles that are used for business purposes and for personal use. To date there have been two options. The ‘Kilometre Rate’ method, often referred to as the
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Credit Card Surcharges & GST Inland Revenue have been asked about their position on credit card surcharges & GST. To be clear, these surcharges should not be confused with the credit card charges levied by the banks on their customers. Bank fees & interest don’t attract GST as they are a financial service. They are characterised
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What is a bad debt? Just what is a bad debt? That’s a question that Inland Revenue has set out to define in a recent exposure draft for public consultation. The department proposes defining a bad debt as: an existing debt owed to a taxpayer that has been judged to be “bad’ by a “reasonably prudent
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