Over the past few years there has been a pronounced improvement in the manner in which Inland Revenue selects and conducts its investigations. There has been an increased focus on data analysis, comparisons to statistical norms, and use of external information such as land transfer data. As a result there is an increasing need to […]
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 »
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 »
The fall in the pay-out has been and gone and now we await the results of dairy trade auctions to see what direction Fonterra take. We need to be looking at the things we can control but at times we all seem to focus on things we can’t control. If you are struggling to meet
The Reserve Bank of New Zealand uses the Official Cash Rate (OCR) to maintain price stability, i.e. to keep inflation between 1% and 3% over the medium term. Given the recent drop in the OCR (from 3.5% to 3.25%) and the potential for future reductions, it is timely to consider the benefits of changing the
What is the cost of your fixed term debt? Read More »
Concerned about meeting your future tax payments? Speak with Dorothea or Brenda Pittams re: tax arrangements with IRD. You are better off to sort this before the tax is due and reduce the penalties IRD will charge rather than to put your head in the sand and ignore tax. The problem will not go away!
Struggling to Pay your Tax? Read More »
We have recently gone through the end of another financial year, and we now turn our minds to looking forward and where to from here. As part of this process, it is worthwhile looking at your business’s structure and whether it needs a ‘spring clean’. It is surprising how often companies are set up for
Going forward we will be sending you a simpler checklist with the essentials. If we require anything else we will call you when completing your accounts. The most important thing is to sign the terms of engagement we send you which allows us to compile your accounts. The institute that governs chartered accounting firms requires
Some News that May Excite You… Read More »
Through the process of completing the 2014 annual accounts we had a number of clients tell us that they no longer had certain assets on their books/asset schedule. It can be well worth informing us of this especially when they have been scrapped/thrown out/replaced. The remaining balance of this asset can be ‘written off’ which
