December 20, 2019
The financial media is currently full of gloomy-sounding references to ‘inverted yield curves’ as a harbinger of a global recession. In lay terms, what does all this mean and how should a long-term investor respond? A yield curve is a line that plots the yields of bonds of the same credit quality… Read full post »
December 3, 2019
What is direct debit? When you set up a direct debit with a customer, you can collect payments straight from their bank. Of course, you have to notify them ahead of time what you’re taking and when, but the customer doesn’t have to do anything to make the payment happen. Benefits of direct debit… Read full post »
November 1, 2019
Team Changes: Accounting Team: Kristine Boyose has left the accounting team as she and her family have moved overseas. Prabhjit Singh has joined the accounting team and will be working alongside Venay Nair. Ashreen Lochan has also joined the accounting team and will be working alongside Tim… Read full post »
November 1, 2019
A number of our clients have received emails from IRD stating that they have a refund and they need to contact IRD (and they give you a link to click on).These are not real and are a (very good) scam. In come cases the emails are going to work email addresses stating that ‘IRD are using your work… Read full post »
November 1, 2019
Do you own a car? Most of us will answer yes, I own a car. Is your car the same or different from other peoples? We all have different cars – electric, V8, luxury, two seats, eight seats etc. We all own a car but have significantly different types. Do have insurance? Most of us will answer yes, I… Read full post »
November 1, 2019
Ring-fencing rental deductions From the 2019-20 income year new ring-fencing rules apply to residential property deductions. Ring-fencing means residential property deductions can only be used to offset income from residential property. You cannot use rental losses to offset other income like… Read full post »
November 1, 2019
Inland Revenue compliance staff have searched several Central Otago businesses and made unannounced visits to others, as part of its current hidden economy campaign targeting the hospitality sector.Café, restaurants, bars and takeaways are the focus of the renewed campaign which follows the… Read full post »
November 1, 2019
Theses tips, while not being any form of legal advice, may help to clear up some common misunderstandings or confusion. Agreement vs Contract A contract is always an agreement but an agreement may not be a contract e.g. it may be a non binding agreement or for some technical legal reason, it may… Read full post »
November 1, 2019
A sole trader is a common ownership structure that can be used to operate a small business. The main operator of the business may be one person, supported by a family member such as a spouse. Operating a business may be risky if the right asset protection and insurance is not in place to support the… Read full post »
November 1, 2019
In September I had the pleasure of listening to Warren Rustand speak to a small audience of entrepreneurs in Auckland. Warren is a remarkable individual. Among his many accolades, he is a former NBA basketball player; he served as the appointment secretary to US president Gerald Ford; he has been… Read full post »
October 3, 2019
Measles is a highly contagious illness as we can see from current news reports about the spread of the disease. Your workplace may well already be impacted by this disease, either due to employees becoming ill, being absent to care for family members or possibly due to the nature of the business… Read full post »
October 3, 2019
The government has recently made changes to the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the “Act”) to prevent money laundering and terrorism financing within various businesses and professions (including lawyers, accountants and real estate agents). The Act aims to… Read full post »
October 3, 2019
The Court of Appeal recently looked at the question of whether an employer can pay out a notice period during a trial period. The answer is yes, if the employment agreement provides for this. The employment agreement in question provided for 4 weeks’ notice of termination. The employer terminated… Read full post »
October 3, 2019
Working with customers to get their tax right is IRD’s preferred approach. However, when all other avenues fail, we consider taking prosecution action.IRD has more than 90 cases before the courts as of the end of June and sentences have been handed down over recent months for tax evasion and other… Read full post »
October 3, 2019
Inland Revenue Department and the Accident Compensation Corporation are calling ‘time’ on cheques.From March next year, IRD and ACC will no longer accept payments by cheque from customers who are able to use alternative payment options. IRD received more than 430,000 cheques last financial year,… Read full post »
October 3, 2019
The Great Auckland Duck Race
The 2019 Great Auckland Duck Race on Sunday 20 October at Vector Wero Whitewater Park.
This event is a fundraiser for the Life Education Trust who work with schools in Counties Manukau, and Chester Grey have sponsored a Duck that will be entered into the Business Race.… Read full post »
October 3, 2019
It’s easy to fall for and can go unnoticed. But if you know what to look for and put these four security measures in place, you’ll be in a good position to keep you and your business safe. The scam Last year, CERT NZ received a report from a small business that was receiving emails from… Read full post »
October 3, 2019
Changes to self-employed leviesACC are making some changes to how they levy self-employed customers. If you're self-employed, and on the basic cover (CoverPlus) - you won't be receiving a 2019/20 invoice this year. How your CoverPlus levy is changing Previously, ACC levied self-employed people… Read full post »
July 26, 2019
Insurance is about getting the right amount into the right hands at the right time. If we have an insurance claim we want to know how much will be paid out and to whom. Any delays in payment are frustrating. It is important the documentation aligns with the desired outcome. Recently two… Read full post »
July 26, 2019
If you buy a property at a mortgagee sale, be aware that you are entering a contract that is quite different in its nature to an agreement entered into in other circumstances. The agreement is likely to be weighed heavily in the mortgagee’s favour because mortgagee sales involve factors outside… Read full post »