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Chartered Accountants

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

Recent changes to property tax for offshore seller’s

Posted on Jan 26, 2016 by editor

The Taxation Bill was enacted on 16 November with the introduction of a new residential land withholding tax (RLWT) for “offshore persons” selling residential property. The RLWT applies to the sales of residential property by people who live overseas and acquire and sell the property within two years of purchase. The residential land withholding tax is intended to support the “bright-line test” which applies to land for sale and purchase on or after 1 October 2015. Under the bright-line test provisions, the vendor is liable to pay tax if residential property is owned for less than two years before selling […]

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Choosing a KiwiSaver provider

Posted on Jan 26, 2016 by editor

For those new members joining KiwiSaver, choosing a provider is a crucial step in your investment strategy as default or employer-chosen providers may not be suitable for your investment needs. When choosing your provider consider some of the following features: Investment mix The provider you choose should offer the right mix of investments for you. Avoid providers with a limited range of investment strategies to allow for greater flexibility. Control over contributions If you are looking for greater control over your contribution amount and pattern, ensure your provider permits these actions. This is particularly useful for non-employees and self-employed people. […]

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Make mornings easier with end-of-day rituals

Posted on Jan 26, 2016 by editor

As all productive workers know, the end of a working day is just as important as the beginning. While the lead up to finishing time in the late afternoon usually sees the majority of workers counting down the minutes until they can clock off, productive workers that engage in a few simple rituals at the end of the day can help them get off to a fast start in the morning. Closing rituals can help you pinpoint exactly what you have to do the next day as soon as you walk into the office, increasing the likelihood of getting more […]

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Hiring the right employee

Posted on Jan 26, 2016 by editor

Hiring a new employee is an important decision with the potential to make or break your business. Hiring the wrong employee can cost your business a lot of time, money and productivity. Employers can benefit from spending more time on the recruitment process to ensure the candidate suitably matches the culture and position you want to fill. Here are a few ways to hire the right staff: Plan your hiring strategy To attract the right candidates, it is important to develop a clear job description for the advertised role. The job description should identify the tasks involved, skills, qualifications and […]

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Plan for success in 2016

Posted on Jan 20, 2016 by editor

While you have many goals for 2016; make more money, have more loyal customers, get more satisfaction from your work etc. one simple thing can greatly increase your chance of success is developing an annual plan. An annual plan can be a fairly simple process. Set aside a few hours or a day to work on your plan. Get away from the office, store, and especially phones. The key is to take a look at where you’ve been, where you want to go, and the best way to get there. Here’s how to develop your own 2016 annual plan: Look […]

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Effectively apologising to customers

Posted on Jan 20, 2016 by editor

Quite often, the words ‘I’m sorry’ aren’t enough for an unsatisfied customer. Whether it is because you had to deny a request, made a mistake with an order or left a customer waiting to be served for too long, there will always a time when a business will need to apologise to their customer. While it might seem tricky trying to find the right way to apologise to a customer, businesses should always remember that apologies are key to showing a business’s commitment to meeting their needs and satisfying their requests. So instead of coming off as insincere with just […]

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Getting rid of products to improve profit

Posted on Jan 20, 2016 by editor

Businesses looking to improve their profitability may need to consider cutting under-performing products and services. There are a few simple ways to decide which products should stay and which should go. 80/20 rule An often used marketing and business rule states that businesses should focus their attentions on the 20 per cent of products that generate 80 per cent of revenue.  Using this principle, companies should compile a shortlist of the products and services that bring in the most profit and scrutinise the products that fall short of this mark. Emotional attachment There will always be those few products that […]

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Simple ways to save more money in 2016

Posted on Jan 12, 2016 by editor

Even the best of us can make foolish (and quite often avoidable) money mistakes from time to time. But simply looking at your spending behaviour objectively, altering your bad habits and even developing a few new ones can help make a difference when it comes to saving money. Here are some money-saving tips to help get your personal finances off to a great start in 2016. Don’t pay an annual fee Individuals who pay an annual fee on their credit card can asked to have it waived. Transfer any debt Moving existing debt onto a balance transfer can lower your […]

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Managing online reviews

Posted on Jan 12, 2016 by editor

Online reviews are important to business and need to be managed appropriately as they can influence the purchasing behaviour of customers and your overall reputation. Online reviews provide information about your business’s products and services based on the opinions of customers. One of the first steps in managing online reviews is monitoring where they appear. Reviews can be found on a business’s own website, social media, blogs or third party review sites. Managing your online presence helps to monitor customer satisfaction and provides leverage from criticisms to improve your business. Responding to feedback To successfully manage online reviews, both positive […]

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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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