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Chartered Accountants

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

Avoid these mistakes when networking

Posted on Sep 29, 2016 by editor

Networking – building, maintaining and developing relationships – is one of the most important business and life skill sets entrepreneurs will ever learn. Indeed, studies show that a significant percentage of people found their job through personal contacts, and many successful people have made it through with the help of people they met along the line. One of the best ways to develop continuously is to expand your network, so it is important not to make mistakes. Here are some of the biggest mistakes to avoid when building your network as an entrepreneur: Handing out too many business cards Don’t […]

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Tips for a productive office space

Posted on Sep 29, 2016 by editor

A well-designed office space is an effective yet inexpensive way to increase productivity levels and improve employee engagement. Healthy office environments are centered around communication, interaction and flexibility between all staff. Here are a few ways to boost your office space to maximise productivity: Lighting Workplace daylight, outdoor views and a view of the surrounding area can all make a difference in improving productivity. Office spaces with plenty of windows and naturally lit common areas have been shown to impact on employee’s mood and general health. Where possible, consider using LED systems rather than fluorescent lighting as it allows adjustment […]

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Salary exchange for private use of company vehicle

Posted on Sep 29, 2016 by editor

If an employer pays an employee a lower salary in exchange for them using a company vehicle for their private use, this will affect their Working for Families Tax Credits entitlements and student loan obligations as the salary reduction is treated as part of their income. For example, an employer may offer a new employee: $50,000 salary and the private use of the work car, or $58,000 salary without private use of the work car If the employee decides to use the employer-provided car instead of the $8,000 in additional salary, they must include the $8,000 as income for Working […]

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Claiming your business independence

Posted on Sep 19, 2016 by editor

Entrepreneurs are particularly independent. No matter how risky starting a business seems, for entrepreneurs, it is the route to the pursuit of happiness.However, while some started their companies to be independent, many may have lost that freedom along the way. If you allowed yourself to become subject to the petty demands of your business, it is time to come up with your own Declaration of Independence. Here are some things to include: Independence from overly powerful customers If you get most of your income from one or two major customers, they control your future, not you. They can dictate the […]

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Self-employed money management tips

Posted on Sep 19, 2016 by editor

When you are self-employed or run a home-based business, it is vital that you have a business plan that outlines your goals and financial information. Unfortunately, statistics show that many home-based businesses often fail due to poor financial planning. Therefore, for small business owners should not only develop a financial plan, but also consider developing a method for managing their personal financial situation as well.    Here are some things to consider including in a business’s financial plan: Don’t underestimate expenses There are many costs associated with running a business, so it is important not to forget to include expenses […]

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KiwiSaver fees and returns

Posted on Sep 12, 2016 by editor

While KiwiSaver fees and returns are two of the biggest factors when determining how much a person has at retirement, almost half of New Zealanders don’t know how much they are paying for KiwiSaver or what returns they receive. A recent survey has revealed that: almost 47 per cent of people don’t know how much they are being charged to have their savings managed 20 per cent are unsure of how much they are being charged to have their savings managed, and; 33 per cent know roughly how much they are paying in fees Fees and returns can make a […]

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How to stop wasting time in meetings

Posted on Sep 12, 2016 by editor

While many can agree that the majority of business meetings are a waste of time, in some companies, meetings are inevitable. But even though people working in these organisations cannot simply ‘quit’ having meetings, there are ways they can reduce the time-wasting drain that converts a short 15-minute meeting, into an hour of wasted productivity. Here are fives ways to do this: Schedule shorter meetings One of the simplest ways to have shorter meetings is to set a shorter time by outlining the strict start and finish time of a meeting. Try changing the settings in your work calendar so […]

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Meeting cash flow needs in retirement

Posted on Sep 1, 2016 by editor

Working out the right cash management strategy for a self-managed super fund (SMSF) is a critical component of its success. Retirees usually spend more in the first few years of retirement because they are doing all the things that they couldn’t while they were still working. Therefore, a smart way to determine cash flow needs is to run a budget for 12 months. One way to organise a budget is to break it down to fixed and discretionary expenses to build an investment strategy that will produce the desired level of cash. Once trustees know how much cash their fund […]

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Analysing the competition

Posted on Sep 1, 2016 by editor

Many business owners spend too much time and energy worrying about what the competition is doing. Business success often depend on listening and responding to customers needs. However, that does not mean you can simply ignore the competition. From time-to-time, a review of who is doing what in your market segment can be a worthwhile exercise. If you approach competitive analysis exercise as an opportunity to learn, you may find ways to enhance your products or services, or at least improve your marketing. Here are some easy ways to kick off your competitor analysis, all from the comfort of your […]

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Creating an e-commerce returns policy

Posted on Sep 1, 2016 by editor

A comprehensive returns policy is imperative for every e-commerce business. It is not only good practice, but it provides customers with confidence and demonstrates your business’ commitment to customer service. A solid returns policy will ensure the returns process is professional, reduce the time and money spent on returns and keep your customers satisfied. Here are five tips to consider when designing your e-commerce returns policy: Avoid legal jargon Your returns policy needs to be easy simple and easy to understand. It is best to avoid legal jargon and complex terms. Instead use plain english and terms that everyone can […]

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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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