20 top tips to maximise tax deductions We recently ran a seminar where we looked as some top tips to save tax. It was so popular we wanted to share it with a wider audience. With the end of the financial year fast approaching, it seems like a really opportune time. Home Office. If you work […]
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How to plan a successful stocktake. With the end of the financial year fast approaching, you should be planning your stocktake now. That’s the only way you can be sure that your closing stock figure is accurate. An end of year stocktake will also show you how much of your capital is tied up in
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New Health & Safety Legislation New health and safety legislation comes into effect from 4 April, 2016 and it’s important that all employers are aware of the changes. The new Health and Safety at Work Act was a result of the taskforce set up after the Pike River Coal tragedy. It’s the first rewrite of
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How much will a new employee cost? Adding a new team member is a big call but it can also be an inspired move. It can free you up to build the business rather than work in it. We all routinely underestimate the cost of adding additional employees. Fortunately a new employee calculator is now
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Employee Loans – what are the rules? Many employers are faced with requests from employees for an emergency loan. The response differs widely between employers. Some will advance money to employees whilst others won’t. If you fall into the former category you should be aware that there are IRD Fringe Benefit Tax (FBT) rules which
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If you get a text message from the IRD out of the blue, don’t be alarmed. The IRD have begun sending text messages to some taxpayers to remind them of important tax payments coming up. From the start of 2016 the IRD will also write to their “customers” to remind them of forthcoming tax payments,
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The pitfalls of personal guarantees Personal Guarantees are a serious matter that make you liable for the debts of your business or the debts of other individuals. The use of personal guarantees is increasing across the board. Parents are often guaranteeing mortgages for their children. Company owners are often giving their personal guarantee on business
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We are very often asked if family trusts are really worthwhile. After all, haven’t most of the advantages been whittled away? Of course it always depends on individual circumstances but trusts are almost always the best entity to own a business or assets such as your family home. Having said that, there are plenty of
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Using Xero for marketing isn’t widely known but all the data you might need to supercharge your next marketing drive is all in Xero. It’s widely understood that it costs a great deal more to acquire a new customer rather than simply retain the relationships you have. Yet most small businesses don’t have the time
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If you are contemplating resigning as a trustee of a Trust, it’s really important to inform IRD. Typically the trust’s lawyer will take responsibility for any paperwork to formalise the resignation. This may involve some minutes or a resolution. However, they may not inform the Inland Revenue Department and this can be problematic down the
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