Finding your feet in the first year of business can seem like an ever-evolving task list, but tax is one thing to get ticked off quickly. Instead of waiting for your tax situation to snowball with a surprising result come end of financial year, take the time to jump on that tax learning curve. You might be pleasantly surprised to find it’s a relatively simple task once you’re in the… Read more
Luckily for us Kiwis, New Zealand is globally renowned for being one of the easiest countries in the world to start a new business – quick, hassle-free and inexpensive. The majority of the set up can be completed online in just a few hours. But before you start filling in forms, the first thing to decide is what business structure is most suitable. Here, we’re going to look at the… Read more
Every business needs accounting, just like every business needs marketing. In order to meet your goals you will need to generate business, keep hold of your existing clients or ramp things up for growth. Marketing means having a solid understanding of your brand, being able to communicate your value and offering, and present your business in line with the level of your product or service. But like most things, there… Read more
It’s now been almost ten years since the maximum limit on tax credit for donations was removed, and in this time donor concessions in New Zealand have increased from 100 million per year to over 280 million per year! Inland Revenue has recently made some important changes to the Taxation Act for non profit organisations to ensure the tax rules address this increase, coming into effect this year. We recommend… Read more
There are some things in life that go together well and others that definitely do not. Business and personal finances are in the category of items that should not be mixed. Although it may seem like a headache to keep them separate—who wants to manage all those bank accounts?—your life will be greatly simplified once you separate your personal and your business finances, especially your expenses. Paperwork and taxes will… Read more
Flexibility and self-management…the appeal is real. In fact, approximately 70% of enterprises within New Zealand are sole traders. It’s easy to understand why – no more worrying about applying for holiday leave, pushing for a much deserved pay rise, or being subject to painful small talk around the coffee machine. Instead, the main person you’re checking in with is…yourself! For some, becoming a sole trader is a win-win situation. Is… Read more
There is nothing quite like moving overseas to send your ‘life admin’ skyrocketing. Many of our clients have relocated here to New Zealand from all over the world – UK, Australia, India, China, Canada and even Hungary – and are making the most of the NZ small business lifestyle by setting up as a contractor, or starting their own business venture. And when you throw a business in the mix,… Read more
When you own a small business, it’s vital you understand how money flows into and out of it. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level, knowing how money moves through your business can help you make strategic decisions about growth, invoicing, and debt management. The consequences of not understanding money can be drastic—poor financial management… Read more
Here at The Accounting Hub we have our fingers on the pulse of accounting systems for health care professionals. We work with doctors, health specialists and clinic administrators to help health care centres operate smoothly behind the scenes. Running a medical centre, and taking care of patients, can mean long, demanding days that are filled to the brim with action. The professionals we work with want to focus on their… Read more