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
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,
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
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
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
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
What you can and can’t claim as an expense when buying a rental property is a hot topic of conversation. The confusion around this issue is likely inflamed by the recent changes to the rules that the IRD has quietly made without much publicity. Below are some of the most
The New Year is a time for setting goals and targets for the months head. Its also the best time to make sure you have the best people on your team to help you achieve those goals and targets. That makes it a great time to look for a new
If you’ve got a couple of spare rooms, renting them out is a great way to make some extra cash. However, how you rent them out can make all the difference and can even be the difference between paying a large tax bill and no tax at all. It all
New Zealand does not have the most liberal tax laws when it comes to making claims for work clothes. This is one thing that our cousins across the ditch are far more generous with. There is a very narrow definition in NZ tax law and IRD interpretation as to what
