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Chartered Accountants

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

Tips to control business travel expenses

Posted on Aug 27, 2015 by editor

Business travel expenses can become quite complicated if they are not properly kept under control or within budget. This is why implementing strict rules and policies for business travel is a good idea for business owners. Establishing strong, well-defined travel and expense policies and making sure all employees align with them will keep the travel management process simple and easy to follow. An example of a policy may be to allow employees to only fly business class for long flights that last a certain amount of hours. When employees make a travel request, make sure they provide as much detail […]

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Why you should get out of the office

Posted on Aug 27, 2015 by editor

Taking a well deserved day, week or even month off from work could be the very thing your business needs to thrive. Here are four reasons why taking time off away from the office can have a positive effect on your health and your business. Breaks up the routine While the same old routine can make a difference between floating around the office and actually accomplishing tasks and projects, everyday routines don’t inspire innovation or change. Sticking to the same routine will produce the same results. Taking a break and creating the space to be able to come up with […]

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Tips to speed up invoice payments

Posted on Aug 18, 2015 by editor

Taking care of invoice and billing payments can often be an onerous task for many small businesses. However, very few things are more important in the business industry than getting paid on time, since delays in payments can disrupt a business’s cash flow quite seriously. Business owners looking for best practice tips to get paid on time should keep in mind that often the most effective solutions are usually the most simple. Owners should make sure that their invoices are accurate, easy to read and include information such as: how to pay the invoice a clear description of goods or […]

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Get the most out of your business insurance

Posted on Aug 18, 2015 by editor

No matter how hard owners may work to avoid them, disasters are an unavoidable aspect of life, and can strike a business at any time. Whether they take the form of IT system failures, floods, fires or earthquakes, unfortunately there is almost nothing a business owner can do to ensure that their business will be 100% protected from a crisis. However, when it comes to claiming business insurance for a disaster, there are some ways to make the road to recovery run a whole lot smoother. Take out adequate cover Underinsurance can often be an issue at claim time since […]

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Dealing with long-term injured employees

Posted on Aug 18, 2015 by editor

Due to the fear of claims under anti-discrimination legislation, many employers may be unsure what to do when dealing with long-term ill or injured employees. When an employee suffers a non-work illness or injury, employers may feel reluctant to enquire about how the illness or injury may affect the employee’s ability to continue working in their role. This may be due to general embarrassment, privacy concerns, or a lack of understanding of discrimination law. However, none of these excuses are a valid reason to avoid having a conversation with the employee about their condition and any limitations it may place […]

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Management styles that develop productive teams

Posted on Aug 17, 2015 by editor

It is the responsibility of the leader of any team to develop the capability of their team members to become highly efficient and effective workers. Teams who are efficient and effective are highly organised, clear on their goals and complete their work to the standard of quality expected of them within the designated time frames. Below are three management styles which can cultivate these kinds of teams through different approaches and ideologies. Transparent managers are clear on their expectations and strategies used to achieve team goals. These managers know how important it is to communicate the business’s strategy, goals and […]

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Creating a culture of innovation

Posted on Aug 17, 2015 by editor

Innovation is fundamentally important to long-term business success. While you may be able to take on the main role of envisioning breakthroughs for your business, it never hurts to get input from your employees. In order to ensure that your employees’ contributions towards innovation are as valuable as possible, you need to create a workplace environment in which new ideas are encouraged and celebrated. Here are some tips for creating a culture of innovation within your workplace: Keep open lines of communication with your employees. This does not need be limited to your direct reports. If you believe that your […]

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KiwiSaver options for those who move overseas

Posted on Aug 17, 2015 by editor

It is a good idea to check what happens to your KiwiSaver when you head overseas permanently or for an extended period of time. For those who move to Australia, there are two options for their KiwiSaver balances. A person can opt to leave their funds in a New Zealand KiwiSaver scheme, or they can transfer their funds to an Australian complying superannuation scheme. For those who leave their balance in a KiwiSaver scheme after leaving the country, the normal KiwiSaver withdrawal types will continue to apply. These permitted withdrawals include significant financial hardship, serious illness, first-home withdrawal or permanent […]

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Planning for provisional tax

Posted on Aug 17, 2015 by editor

Provisional tax is a method of paying income tax while receiving income during the year. The instalments of income tax an individual pays throughout the year is based on what their expected tax bill is. All provisional tax paid is deducted from an individual’s tax bill at the end of the year. The number of instalments an individual makes is based on how they calculate their provisional tax. If the individual is also GST registered, the number of GST returns they file will also affect how many instalments they make. At the end of the year in which they paid […]

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Aim for these cash flow goals

Posted on Aug 9, 2015 by editor

It can only take one or two late payments from customers to turn a business’s positive cash flow into a negative one. Maintaining positive cash flow can be a struggle for many businesses, but setting realistic goals for cash flow management can help make a business profitable and generate enough cash to offset monthly expenses. Below are three cash flow goals every small business should be aiming for: Pay attention to margins: Even though margins vary by industry, there are things an owner can do to ensure theirs is healthy. Controlling the cost of materials, labour, and setting the right price […]

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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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