Many entrepreneurs start their business with the goal of earning an income for themselves, but they often think of the business only in terms of them running it. In truth, there is a huge benefit to starting a business either with the goal of selling it or at least setting it up so it can be sold at some point in the future. You don’t have to plan on making… Read more
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
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
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… Read more
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
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
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
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
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