The Government has recently announced a package of proposed tax changes that intend to reduce compliance costs and make tax simpler for businesses. The package is part of the Inland Revenue’s big picture ‘Making Tax Simpler’ initiative that aims to modernise and simplify the tax system. While the proposals will generally apply to all businesses, […]
Changes to how SMEs pay tax Read More »
Hi All The warm weather continues to hold with our farming clients enjoying a little rain but on the watch for facial eczema. This has also meant that we have received a few buckets of mushrooms – much appreciated. Our new staff have been inducted with: Anna – on reception; Caroline – contract Accounts Manager;
If you are struggling to pay your accountancy fees, please contact either Dorothea or Brenda Pittams so we can arrange a repayment plan. We know times are tough and we would like to work with you rather than referring you to a debt collection agency. There are options we can suggest to help. Communication is
Hughson & Associates Fees Read More »
Staff Leaving… As most of you are now aware, Luke Kemeys left us in November after four years of service. He’s working in Auckland until the middle of next year before embarking on some travel through the USA and then onto Brazil where him and a group of friends from university will support another university
Further cuts to ACC levies ACC must collect sufficient funds to cover the costs of all current and past claims. In 1999 the Government realised funding was insufficient to cover on-going costs of pre-1999 claims and therefore, introduced a ‘residual levy’ to build up adequate funds. The residual levy has been incorporated into the work
Snippets…Nov 2015 – Jan 2016 Read More »
In the past, an IRD audit could be commenced for no other reason than the business had not been audited in recent years. Audits would start with the stereotypical interview comprising a series of broad questions that may or may not apply to the business, before the investigator would commence trawling through invoices looking to
Inland Revenue Scrutiny Read More »
Productivity, budgets, utilisation, cash flow and market penetration are all areas that most businesses focus on as they strive for improved performance and growth. However, many organisations are also exploring and implementing ‘healthy’ initiatives that provide the dual benefit of improving the health of their employees, and the business. Sick days and staff turnover There
Fit staff / fit business Read More »
When purchasing a business it is important to understand its value. The value of a business will ultimately determine whether to purchase it and if so, how much to pay. A number of factors need to be considered when determining the value of a business, including; it’s financial position, future forecasts, existing customer relationships, staff
Doing your own Due Diligence Read More »
As part of Budget 2015, the Government has passed into law a “bright-line” test for the sale of residential property. The test will require income tax to be paid on any gains from the sale of residential property that is bought and sold within two years. This came into effect from 01 October 2015. What’s
Bright-line Property Rule Read More »
In New Zealand, companies are often the preferred vehicle when setting up a new business. They are well understood, underpinned by well-functioning legislation, flexible, and liability is generally limited to the amount of a shareholder’s investment. However, the tax rules surrounding companies can be complex and not well suited to small businesses. In acknowledgement of
Changes to closely held company tax rules Read More »
