... to be truly satisfied ...

I was in Fiji on a golf trip recently and 5 of the golfers’ wives came up at the end of the golf to enjoy time in Denarau around the pools and generally relax.

I got to finish reading the book called “Insanely Simple – The Obsession that drives Apple’s Success” written by Ken Segall who worked for the agency for Apple and Steve Jobs and is credited with the naming of iMac which lead of course to iPhone, iPod and iPad etc. The book is a great read and well written.

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Holiday homes, boats and planes costing $50,000 or more

If you have one of the above, which is used partly for personal use and partly for business, there’s a nasty little problem if your company owns it.

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Keeping records and claiming business expenses

This is the time of year when many of the taxpayers start collating information for their tax return preparation. If good records are kept during the year then it will be a breeze, whether the tax return is prepared by a tax agent or not. If one has not made a good job of record keeping, it might become stressful putting all the paperwork together. If proper records are not kept or they are incomplete, one might miss out on claiming some expenses. 

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Employee Issues

Taxing cashed-up annual holidays 

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Industry Benchmarks

Industry benchmarks are a useful tool to help assess and improve a taxpayer’s business performance by comparing his business with others in the same industry. Because of the enormous data Inland Revenue receives, it put together these industry benchmarks a couple of years ago and now regularly updates them.

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Do you rent your holiday home?

IF YOU rent your holiday home, you need to start keeping records now (in addition to income and expenditure) of the following:

  • Who uses the home each day of the year?
  • Their relationship to you.
  • Rent charged to each person.
  • Details of any repairs, including the reason for the repairs.
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TECH Update

SEVERAL new apps for smartphones and other mobile devices are out there to make your business life easier.

Some are downright silly and a waste of time, but some are useful. One worth looking at is an app to convert business cards. You know what it’s like – a drawer full of business cards which get pulled out when you suddenly need a phone number or email address.

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Aim for triple-A in your business

The business formula for success can be summarised in three words, in the following order: 

Available  •  Affable  •  Able

How many large businesses and those aspiring to be large do you know which have forgotten the three As? Many of them have just one A: Arrogant.

Small businesses can’t afford to be arrogant, though a few of them think they can.

Available

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