Business Startup How do I get started in business? What structure should I use? Should I have a trust? What can I claim? What are my risks?
Read more...
First Year How can I pay less tax? Who can be my trusted business advisor? How can I get my bank to help me? How’s my business performing? What are my risks?
Read more...
First 5 Years Am I paying too much tax? IRD audit – am I frightened? Are my monthly results accurate? How do I make more profit? Is my accountant giving me value for money?
Read more...
Well Settled How do I make more profit? Could I benefit from having a CFO on tap? Are my business risks fully covered? Could a new accountant boost me to higher level?
Read more...
Time To Exit How do I prepare to sell my business & provide for my retirement? Have I got an exit strategy? Will I be secure in retirement?
Read more...
Selling Up How do I maximise my business value on sale? Who can help me sell my business for the best value?
Read more...
Don’t be taken in by very low interest rates for hire purchase, or even those offering zero percent.
Many retailers occasionally offer “special deals” of 0% percent interest on hire purchases. Does it mean you pay only the ticket price over the term of the loan?
The answer is no, and in fact the total price can be very expensive.
The Inland Revenue Department (IRD) recently released a new interpretation statement discussing when income from professional services is considered to be derived, and hence becomes taxable. The statement replaces several older IRD Information Bulletin’s and consolidates their view, giving greater detail and more examples.
We would like to recommend an IRD-approved service those who are due to pay provisional tax on 7 May might find useful – especially if cashflow is tight after settling terminal tax.
Tax Management NZ (TMNZ) is a payment intermediary that gives you greater flexibility around how and when you make your provisional tax payments, while eliminating IRD late payment penalties and reducing interest costs.
Currently, companies that provide a motor vehicle for the private use of their employees must register for and pay FBT. Draft legislation has been introduced which will enable some small businesses to avoid having to pay FBT.
Inland Revenue has informed us it considers the supply of all food and drink, whether in the course of entertainment or not, is tax deductible only to the extent of 50%. Thus, under this new interpretation, if you give your client a bottle of wine or a food hamper you can no longer treat this as a fully tax deductible cost. If you want a 100% deduction, think of something different such as a bunch of flowers or something else which cannot be consumed.