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feeSmart
The Smart way to pay your professional fees Astute cashflow management is essential for operating a successful business. In today’s competitive environment many businesses prefer to spread their professional fees over the year rather than paying as a single lump sum just like rent or insurance premiums. feeSmart is a monthly payment option available to
Business Structuring
Whether you are starting a new business or looking at expanding your existing business, deciding on the commercial structure to adopt can seem daunting and the help of an advisor is likely to be sought. Irrespective of that help, the final decision will be made by you – based on your answers to the following
Dying without a Will
Messy, expensive and time-consuming Most people know that it’s important to have a Will and to keep it up to date. But what happens if you die without a Will? You might assume everything will go to your spouse or partner but that’s not usually the case. In fact, dying without a Will can mean
Tax Payments – when received in time
Recent changes to the Financial Reporting Act 2013 Despite our best efforts, many of us are familiar with the consequences of making late tax payments to the IRD. Often, the problem is not just that we forget and leave it to the last minute, but that the payment we make is not processed or received
Tax Re-estimates
With the large decrease in the Fonterra pay-out it is worthwhile for our farming clients to have an estimate of their provisional tax. As you are aware provisional tax for the 2015 financial year is based on the income you made in 2014. You are going to make significantly less profit in 2015 therefore it
Reduced financial reporting requirements for SMEs
Recent changes to the Financial Reporting Act 2013 (FRA 2013) have changed the requirements for entities that are not “large” by definition. Broadly, this means that most NZ businesses will no longer have to prepare financial statements that comply with New Zealand Generally Accepted Accounting Practice (NZ GAAP). Recognising that this could lead to a
From My Desk…
Hi all, Where did 2014 go? Its hard to believe this is the Christmas newsletter but great to think Summer is just around the corner. Its been a busy year with plenty happening and a lot of change in the economy has meant a range of implications for our clients. I want to take a
In the Office…
Staff in the News Here’s Luke (in green) playing Football for Eltham AFC against Francis Douglas Memorial College. Either bullying or being bullied, you decide. By the way, Eltham lost 6-4. Better luck next time, Luke. Friday – Mufti-Day You may have noticed, if you call into the office on Fridays, that the staff wear
Gifting of assets
Gifting is again a topic of conversation A prominent local law firm is suggesting that people should be aware that if the government is to change there could be a re-introduction of gift duty. Therefore, it could be a good time to look at any upcoming lump sum gifting you are considering. We thought it
Warning – New Phone Scam
Inland Revenue is warning its customers to beware of aggressive telephone scammers who are targeting people for money and threatening actions such as deportation and prison if not paid. “We have received numerous reports of scammers telephoning our customers claiming they owe money. The caller is threatened that if they don’t go to NZ Post
Debt vs Equity
All businesses need some degree of funding in order to achieve long term operating objectives. One of the biggest decisions for a small business owner is whether to fund these long-term financial requirements through debt, equity, or a combination of both. There are advantages and disadvantages to both forms of funding that should be considered
IRD – Important Changes to Payment Services
As you may be aware, the IRD have changed the way they accept payments from you. From 1 October 2014, your payment needs to be with the IRD on or before the due date. This means that the common practice of sending cheques on the due date won’t be allowed. For client’s who we send
