Remember to say thank you

“The Mallagan Institute just rang to say thank you for our firm’s donation.” Have you ever known any other charity to do this?

You are in business. When anyone does anything to help your business, be sure to say thank you. Some people send a small gift. One woman received a lovely card. She was so impressed she kept it on her desk for six months to admire it. 

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Food businesses – do you need to register?

Most businesses serving food, in one way or another, were supposed to have registered under the Food Act before 31 March 2018. To check if you need to register, go to the Ministry for Primary Industries website. 

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Another home business calculation

There are now two ways of working out the use of home calculation. 

Inland Revenue will provide a standard rate per square metre for variable costs such as power, telephone/mobile/Internet services and house/contents insurance. The rate is $41.10 per square metre. A share of fixed costs such as rent or rates and interest on mortgage can be added to this.

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Location the key to success

We’ve all heard the phrase “location, location, location”. It applies just as much to business location as it does to your home.

In business, you want to be in a location that attracts customers, whether it’s through a shop front or an attractive office space.

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ACC CoverPlus Extra

There are some very real advantages of using CoverPlus Extra instead of the ordinary ACC cover. One of the main ones is that you can insure for a specified amount so if you have a claim, it will not depend on the actual performance of your business. The premiums for CoverPlus Extra are higher than for ordinary cover. If you are using CoverPlus Extra, be careful.
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IRD refunds

If the IRD sends you money you’re not entitled to, don’t just assume it’s right. You’re not entitled to keep it. You can get tax refunds in two ways. It can be lodged to your bank account or paid by cheque. Inland Revenue says you have 20 working days to give them back overpaid tax or they’ll penalise you.
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Holiday pay in advance

From 1 April 2018 you are able to choose how you tax salaries or wages paid in advance. You will be entitled to treat the payment as a lump sum instead of spreading it week by week as at present. The first way will be quicker, but the tax deductions will be higher.
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Interest on short-paid provisional tax

Are you likely to pay more than $60,000 provisional tax per year? If yes, read on:

 

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