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Tag: GST

How to Choose Your NZ Business Structure

Have you given any thought to which business structure is right for your business? We’ll be honest and admits it’s not usually the first thing that comes to people’s minds when starting or buying a business. However, the way that you structure your business plays a significant role in how

New Low Value Asset Expense Deduction Rules

For many years, the low value asset threshold for depreciation had been set at $500.00. This meant that everything over $500.00 had to be capitalised and depreciated as a fixed asset. The cost of many business items has increased significantly since the rules were last reviewed. At the same time,

Why Hiring a Bookkeeper is an Investment, Not a Cost

As a small business owner, you’re probably keeping a close eye on every cent you spend. You need to have a good eye on your income and expenses to manage your cashflow, so that’s a good thing. However, it might mean that you are wasting time micro-managing your finances and

New Business Support Options Released by Government

The government’s latest COVID-19 support package includes further measures to try and ease the pain of the lockdown. It includes ‘tax breaks’, business advice funding and guidelines for tenants and landlords. At first glance it seems this package, unfortunately, may not do a lot for small businesses and leaves a

How To Reconcile the COVID-19 Wage Subsidy

The process to apply for the Covid-19 Wage Subsidy is pretty straight-forward and the turn around in payment has been very quick. We initially fielded hundreds of queries about the application process and having dealt with these are now receiving queries about how to reconcile the payments. If you use

How To: Identify What To Outsource in Your Business

We all have tasks that get in the way of our business moving forward. It’s all these tasks that we tend to procrastinate, that we would rather void doing and that just suck up too much of our valuable time. Time that we should be spending on our businesses. Thankfully,

The Top 10 Things You Can Outsource in Your Business

Want to reduce some of your business admin burden but not sure where to start? Here is our list of the Top 10 things we think you can outsource to get started. 1. Outsource Your Payroll Nothing makes your staff angrier than not being paid properly. Payroll is a lot

Why You Should Outsource Your Bookkeeping

A business is only successful when it has the best people, processes and data. Without accurate, reliable data, a business has no solid base on which to make any informed decisions regarding sales, marketing or people. This is why making a decision to outsource your bookkeeping can be a beneficial

Is Declaring Bankruptcy the Right Choice for You?

If financially things aren’t looking that great, you may be considering declaring bankruptcy. Making your debts go away may seem like the obvious solution, but there’s a lot to consider before you do. While bankruptcy can clear your debts from the time you lodge a debtor’s petition with the Official

Tax & Your Motor Vehicle Expenses

Many businesses need to get their employees around the place to do their jobs. This often means that they need to either have company motor vehicles for their employees to use, or reimburse their employees for the use of their personal cars.  Much of the motor vehicle expense claim methods