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Chartered Accountants

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

Creating an anti-bullying workplace culture

Posted on Aug 24, 2016 by editor

Quite often, being too slow to name bullying behaviours that pose health and safety risks in the workplace can cost businesses millions of dollars each year through lost productivity. Workplace bullying is repeated unreasonable behaviour directed towards a staff member or a group of workers that puts their health and safety at risk. Instances of workplace bullying include deliberately intending to cause physical and psychological distress and includes behaviour that intimidates, offends, degrades or humiliates a victim. Here is a simple process businesses can implement to build an anti-bullying culture at work: Always keep an eye out for bullying Bullying […]

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Playing it safe in business

Posted on Aug 24, 2016 by editor

Sometimes it can pay off in the long-run to play it safe rather than take risks in small business. Many talk about the importance of risk-taking in small business. But for all the successful entrepreneurs out there, there are just as many, if not more, who have taken too high of a risk only to fade away, never to be heard of again. There will be times when a small business must take leaps of faith. However, it is worth remembering that, at times, there’s value to being conservative. Here are some aspects small business owners should keep an eye […]

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Understanding GST in a property transaction

Posted on Aug 24, 2016 by editor

The GST implications of a property transaction often cause a lot of confusion for vendors and purchasers. There are specific legal and tax implications that both parties need to be aware of prior to drafting any agreement. Serious consequences can arise for both parties if not dealt with correctly, so it is important for vendors and purchasers to understand the basics of GST on property transactions. Vendors To register for GST the vendor must be using the land for “taxable supplies” for GST purposes and the land must not be used as a principal place of residence. Examples of taxable […]

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Short-term vs long-term financing

Posted on Aug 17, 2016 by editor

Maintaining healthy cash flow can be challenging; between ongoing expenses and bills, poor cash flow can severely impact your customers, staff and bottom line. Business owners need to understand the differences between short and long-term financing when developing a cash flow strategy. There are various sources of finance available and each source of finance is useful for different situations. Choosing the right source and mix of financing options is crucial for good cash flow, so it is important to first determine your needs and then match a financing option to meet those needs. Financing options are often classified into two […]

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Commitment will make the difference

Posted on Aug 17, 2016 by editor

Commitment – true acceptance and dedication to a goal – makes a huge difference in the outcome of any course of action, whether in business, reaching personal objectives or the quality of personal relationships. Not all entrepreneurs love what they do. For example, you may have chosen your line-of-work because you had contacts in that industry or an opportunity presented itself. You may have operated your business for many years, and now you’re dependent on your current customers for your income. Or maybe there just aren’t a lot of options in your community. Being stuck in a business you no […]

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Tips to building credibility as a leader

Posted on Aug 17, 2016 by editor

Quite often, an employee’s level of satisfaction can be traced back to his or her leaders. Indeed, research shows that only 49 per cent of employees trust their senior managers. As all leaders should know, trust goes hand in hand with credibility. Credibility is something that all leaders must aspire to obtain, as it positions leaders as highly dependable sources of expertise and information. Here are some suggestions new leaders can use to build their credibility: Engage in active listening When you’re responsible for managing people at work, tuning out of what they’re saying can be dangerous, as you risk […]

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Opening a second location

Posted on Aug 9, 2016 by editor

Businesses experiencing a growing customer base and increasing sales may be eager to expand by opening up a second location, however, business owners must tread carefully. Managing one location can be challenging enough so it is crucial to examine and prepare for the ramifications of opening up a second store. Here are some things to consider before taking the leap: Evaluate your current business Before expanding into another location, you must look at how your current business is performing. Does your business have healthy sales, strong cash flow, loyal customers, adequate amount of staff etc? Reviewing your first location is […]

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Making most out of your LinkedIn profile

Posted on Aug 9, 2016 by editor

LinkedIn is usually the most important social media platform for B2B marketing which can also be a valuable way to recruit and network. It is also a great educational resource, as small business owners and entrepreneurs can learn from interacting with other business owners. Like all social media sites, LinkedIn is a pretty crowded platform, so putting in a little extra effort to stand out can go a long way. Here are some tips for making the most out of LinkedIn: Get your photo right Your profile picture should be current, high-definition, and representative of your business persona. You should […]

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IRD targeting employers with unpaid KiwiSaver contributions

Posted on Aug 9, 2016 by editor

Inland Revenue is currently targeting employers with unpaid KiwiSaver contributions that are worth tens of millions of dollars. By the end of June 2016, 12,182 employers had not paid $24.9 million in contributions and penalties. The debt included $12.32 million in employee contributions that were taken from employee salaries but never passed on to Inland Revenue. Employee contributions are government-guaranteed, so workers eventually get the money back. However, $9.34 million in employer contributions are not guaranteed and are only paid to employees once Inland Revenue recovers the money from the employer. In the 12 months to 30 June 2016, Inland […]

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The difference between debt and equity financing

Posted on Aug 2, 2016 by editor

Business owners now have a variety of financing resources they can utilise to build their business. But what one is the best option? Sources of funding sources are usually divided into two categories; debt and equity. Debt financing involves borrowing money from an outside source and paying back the borrowed amount plus the interest at a later date. Secured loans, commonly offered by banks, are one type of debt financing. These loans are typically paid back in monthly instalments and require a personal guaranty for the borrower. Debt financing can be used to fund almost any kind of business. Lenders […]

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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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