Guide to business repairs & maintenance

Repairs and maintenance can be a major cash outlay for an owner of a business or a rental property and hence the ability to claim an instant tax deduction can have a significant impact on the year end tax bill. What are the rules? Broadly speaking, expenditure on repairs and maintenance is an allowable tax deduction in the period it’s incurred. Capital expenditure is not deductible, but it is subject…  Read more

Guide to Agreed Upon Procedures

What are “Agreed Upon Procedures” and can they be useful for your business, community organisation or body corporate? What are Agreed Upon Procedures? Agreed Upon Procedures (AUPs) are a type of an engagement where a practitioner is hired to test and report on a specific question of fact. Unlike an audit or a review, the practitioner reports only factual findings and does not offer opinions, conclusions or assurances. You are…  Read more

Companies Office annual return requirements: more than you may think

You’d be forgiven for believing you had met your Companies Office requirements when you file your annual return every year. The fact is, that updating the names and address of any shareholder or directors for your company does not fulfil all of your obligations under the law. Records required Amongst other things, a director of a company is required to keep certain records such as the constitution, meeting minutes and…  Read more

5 steps to early retirement

For some people, early retirement is a choice. For others, it’s a necessity. If you are running your own business, a retirement plan is probably the last thing on your to do list. Regardless of which group you fall into, there are some steps you can take to help make early retirement a reality and live the life you dream about. 1. Know your goals Before you know exactly how…  Read more

How to build a business you can sell

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

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

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

COVID-19: lesser-known business support schemes & resources

We know that the recent return to COVID-19 lockdown level 3 in Auckland is unfortunate news for struggling businesses, especially in the retail and hospitality sector. As distressing as this is, we’d like to point you in the direction of ways you can cushion the pandemic’s economic impact – some of which you may not have heard about. We also through a couple of interesting COVID-related articles into mix. Business…  Read more

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