Tax expenses: don’t claim too much!

Knowing what and how much to claim in expenses on your Income Tax Return or financial records is probably more important than you imagine.  Read on to find out more. Legitimate expenses lower your taxable income If you own a small or medium business, there are a number of expenses you can claim through the business to lower your taxable income.  And it’s tempting to claim as much as you…  Read more

Chargeout rates: signs you’re undercharging for your work

When it comes to the overall success of your business, one of the most important decisions you’ll face is how to price for the work you do, ie, your chargeout rate. Charge too much and you could scare away potential customers. Charge too little and you could run yourself out of business. Figuring out how much to charge can be tricky, but it’s worth it. If your business doesn’t bring…  Read more

Lockdown & beyond: claiming tax expenses when working from home

COVID-19 forced more than 40% of the workforce in New Zealand, in every industry, to work from home during lockdown.  And according to Infometrics senior economist Brad Olsen, remote working is likely to be a key change for post-pandemic New Zealand with 36% of the workforce continuing to work from home in level 1.  Having experienced working from home during lockdown, many workers are now taking a split approach to…  Read more

Three finance options for your business

As a business owner there maybe several times when you need to access financing. It may be in the early stages of your business, when start-up costs for offices, equipment and employees must be covered. Or it may be later on, when you have to relocate, purchase more inventory or equipment, or market your business more aggressively. Or you may need finance to help deal with the effects of economic…  Read more

3 holiday season tips for employers

The end of year parties have started and the Christmas tree is up. 2020 is, finally, nearly over. However, before you open the champagne, have you made your staffing plans for the holiday season? Many of you will have your annual closedown. If you are part of the hospitality or tourism industry you will likely be hoping to make the most of the holiday season to make up for income…  Read more

When is the right time to invest in business assets?

Well, there’s no time like the present. If you’ve been through the teenage years you are unlikely not to have heard this phrase, and it may or may not bring back good memories! But seriously – if you are thinking about investing in business assets, then 2020 really is a good time. Here are three reasons why: Interest rates are at an all-time low The Reserve Bank of New Zealand…  Read more

COVID-19: Current positives and opportunities for businesses

In the current economic climate, it’s hard to find good news. However, positive economic signals in New Zealand are emerging from recent surveys and stats including improved business confidence, export and job figures. Alongside comes a commitment by the newly-re-elected Prime Minister to prioritise small business recovery and a range of new and existing Covid-19 support schemes. Jacinda Ardern to prioritise small businesses recovery After winning the election for her…  Read more

Post election: what’s in store for your business?

Labour has just had the biggest win in over 50 years and with 64 seats it will be relatively easy for them to make the changes they proposed in their pre-election campaigns.  The expectation is that they will go further and faster this term.  Whether or not you agree, it’s time to prepare.  So, what does a Labour government mean for your business? Personal income tax Labour has announced plans…  Read more

Taking your business from survive to thrive in a recession

The pains caused by a recession can be excruciating, which is why most of us dread the thought of it. A recession can mean layoffs, jobs becoming harder to find, and wages frozen, which means consumers hunker down and spend less– often worsening the economic slowdown. For most businesses, especially small businesses, recessions can be brutal. For example, the Global Financial Crisis (GFC) that struck the world in 2008. Between December…  Read more

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