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‘No GST’ vs ‘zero-rated GST’ transactions
If you’re a business owner or taxpayer in New Zealand, you’ve likely encountered terms like ‘no GST’ and ‘zero-rated GST’ transactions. These terms refer to specific tax treatments under the Goods and Services Tax (GST) system in New Zealand. In […]
Tier 3 not-for-profit financial statements: a beginner’s guide
Many not-for-profit organisations fall under the Tier 3 standard which is a specific set of accounting standards designed for smaller entities, usually organisations with relatively simple financial structures and limited resources. These standards are issued by the External Reporting Board […]
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Rising interest rates: impact on small businesses and mitigating those effects
In the world of business, one constant factor you are likely to encounter is change, particularly in the financial landscape. One such change that can bear significant implications for small businesses is rising interest rates. Understanding how this impacts your […]
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5 important financial ratios for your small business
As a small business owner, you’re likely already wearing many hats. But the hat of a financial analyst might seem a little oversized, particularly if your background isn’t in finance or accounting. However, understanding financial ratios can be a game-changer […]
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Small business guide to depreciation
Depreciation is basically a reduction in the value of an asset over time. What this means for your business is that if you buy a substantial asset like a computer or a car, you can claim a certain amount of […]
How to reduce your tax bill (the right way)
Taxes – there’s no avoiding them. But there are ways to reduce the amount you have to pay so that your business is more profitable. All it takes is some preparation, planning, and the advice of a good tax specialist. […]
Accounting best practices when starting out as a professional services contractor
Starting out as a professional services contractor is an exciting time. Whether you are in IT, medicine, engineering, law or something more creative, contracting provides a unique set of opportunities and challenges. And whether your goal is to just have […]
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Trusts update July 2023
Over the last few years there have been several changes that alter the landscape for family trusts. These changes include a new Trusts Act 2019, new and comprehensive disclosure requirements that began for the year ended 31 March 2021 and […]
Benefits of time tracking and project management software for professional services businesses
As a small business owner it’s easy to get caught up in the day to day running of your business and have little time for the bigger picture. After all, time is money and every minute counts. This is particularly […]