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Chartered Accountants

Trusted advisers of all tax compliance and annual accounting issues facing both individuals and small businesses.

The rules of social media etiquette

Posted on Nov 26, 2014 by editor

There is no denying that social media is fast becoming the most powerful way for businesses to communicate with their existing and potential customers. Although it has become a new approach to communication, businesses should always remember to treat their customers as if they were dealing with them face-to-face. Here are some important rules to remember when using social media for business: Fill out details Fill out the profile information completely, providing the name of the business, a way to make contact and some information on what services and products the business offers. This will assure the customer that the […]

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Save time by updating your business systems and processes

Posted on Nov 24, 2014 by editor

Even very small adjustments to your business systems and processes can make a huge difference to your efficiency. By formalising these activities and spending a little time and effort improving them, you can improve your productivity. The other advantage to formalising your systems and processes is that it ensures continuity and makes it easier to teach employees new tasks. You should start by making a list of all of your business processes. Spend a little time trying to think outside the box. Many business owners are so involved in the day to day running of their business that they overlook […]

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Company tax may drop to mirror Australia

Posted on Nov 24, 2014 by editor

Inland Revenue has indicated that New Zealand may have to drop its company tax rate in response to Australia’s recent cuts. In 2011, New Zealand dropped its company tax rate to 28%, making it a more competitive tax environment than Australia. At the time Australia’s tax rate was 30%. However, Australia has recently cut its tax rate to 28.5%, meaning that New Zealand’s competitive advantage has been significantly reduced. The tax office has warned that the New Zealand government will have to closely monitor developments in Australia’s tax system.

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Kiwisaver gives members a second chance at home ownership

Posted on Nov 24, 2014 by editor

It is well known that KiwiSaver is a great way for members to save up a deposit for their first home. The good news is that now KiwiSaver members who have previously owned a home but have fallen off the ownership ladder are being given a second chance. Kiwisaver is primarily a retirement savings scheme, but members are also able to withdraw from their accounts to put a deposit on their first home. In order to withdraw money from your KiwiSaver account for a property deposit, there are some strict eligibility criteria. These eligibility requirements have created some uncertainty for […]

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Competitive marketing

Posted on Nov 14, 2014 by editor

As a business owner, there may be times when you have to market your products against a direct competitor. Having to market your business competitively is always a tricky situation. Openly bad mouthing your competitor will make you seem bitter and petty to the customer, and leave them wondering if your product is inferior. There are two very important focus points when selling against a competitor. The first point is simple: Know your product and the competition’s well enough to be able to point out the differences. A quick internet search or a read through your industry media will help […]

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Balancing work and home

Posted on Nov 14, 2014 by editor

Most people go into business for themselves to make more money and have greater flexibility in their lifestyle. However many people today are struggling to balance full-time business commitments with responsibilities at home. Try these practical tips for balancing home and work. Prioritise: Determine what tasks you need to accomplish, and then rank them according to importance. Consider your own needs, as well as your family’s. If you must work on a Saturday, plan a recreational activity with your family or friends for Sunday. Learn to say no: If you have plans with the family on the weekend, your staff or partners should respect that. Increase family time […]

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NZ to join global crackdown on corporate tax evasion in 2019

Posted on Nov 6, 2014 by editor

In 2019, New Zealand will join a global fight against corporate tax evasion by imposing compulsory sharing of financial information across borders. The initiative for this automatic information sharing was announced by G20 leaders last year, with the aim of preventing multinational corporations from entering into profit shifting practices to avoid paying tax. Voluntary exchange of information will begin in 2018, in order to allow the financial services industry an adjustment period before becoming compulsory in 2019. New Zealand’s timetable for transnational information sharing is now largely aligned with Australia’s. The Labour Party has been critical of the five-year delay, […]

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Should you let your employees work from home?

Posted on Nov 6, 2014 by editor

Having employees work partially, or fully, from home is becoming an increasingly common practice. There are advantages to both parties. Employers save on overheads, and employees reduce travel time and enjoy increased flexibility. However, concerns do arise when it comes to making sure that employees are indeed putting in the hours that you’re paying them for. If this is a concern for you, rather than rejecting the idea of working from home outright, you should think about a system for preventing underperformance. You should instigate a performance monitoring system that includes developing specific performance goals for each team member, with […]

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Latest news

Business tax bill is now law

Posted on April 12, 2017 by BDS Hughes

The Taxation (Business Tax, Exchange of information, and Remedial Matters) Act 2017 received Royal assent on 21 February 2017. The new legislation focuses on changes to business taxation to make tax simpler. From 1 April 2017, the threshold for self-correction of errors under section 113A of the Tax Administration Act 1994 has increased from $500 to $1000; the use-of-money interest will be reduced or removed for the vast majority of business taxpayers; and most RWT exemption certificates can now be issued for more than one year. For the 2017-18 and later income years: The 63-day rule for employee remuneration has […]

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