September 20, 2017
A trade mark may be part of a business name, or a trader may have one or more marks that they use to identify their products or services with them. There’s no legal requirement to register a trade mark, but if it’s of any real importance to a trader, it makes sense to do so (if it’s registrable).… Read full post »
September 20, 2017
An online scam targeting Kiwis filing a tax return has been uncovered by the Herald, and the Inland Revenue is now investigating the scheme. Inland Revenue confirmed the fraud when the Herald forwarded an email chain purporting to be from IRD. The email arrives with subject line reading, "IR3… Read full post »
September 20, 2017
Mileage rate for self-employed people If you're self-employed you can use our mileage rate to calculate the cost of using your motor vehicle for business purposes. You can use the mileage rates for the 2017-18 and prior income years. Standard mileage rate for motor vehicles The mileage rate… Read full post »
September 20, 2017
New Zealand has been in a productivity recession since 2012. Not that you’d notice from headline GDP numbers, which continue to print impressively. However GDP per hour worked has flat-lined for five years. Our per capita GDP growth is similar to Japan. In the absence of productivity gains, our… Read full post »
September 20, 2017
You can contribute to paying off your children’s student loan by simply paying your insurance premiums. This innovative approach is provided by Repay. As you pay your house, life, car, liability or any other insurances a portion of the premium is forwarded to Inland Revenue. When Inland Revenue… Read full post »
September 20, 2017
Holding back on insurance can be tempting when money’s tight. But managing your risks could mean the difference between going under and thriving. Here’s what you need to think about. “Most small businesses are under-insured,” says Insurance Council of New Zealand Chief Executive, Tim Grafton.… Read full post »
May 25, 2017
Everybody loves the comforts of home, but investors who become too anchored to familiar territory can end up with a very narrow view of the world. Home bias, the tendency of investors to allocate a disproportionate amount of their funds to their domestic market, is a well-documented phenomenon.… Read full post »
May 25, 2017
If you are considering buying or selling a business, then it is important you obtain legal and accounting advice as to which structure most suits you and your company’s needs. Generally, the two most commonly used methods for a business sale and purchase are: • The assets, which… Read full post »
May 25, 2017
The Research and Development (R&D) loss tax credit gives innovative companies access to their tax losses sooner so they have cash on hand to help grow their business when they need it most. Eligible businesses can claim up to $224,000 credit for the 2016-17 tax year. Find out if your business is… Read full post »
May 25, 2017
One of the most helpful ways to promote many businesses is through positive word of mouth marketing. In other words, happy clients tell other people they know about the great experience they have enjoyed when buying from your business. There are many ways to get positive word of mouth marketing… Read full post »
May 25, 2017
Why Excel isn’t a long-term solution Excel can do a large number of tasks, is easily available and is very widely used in the world of business. But while the application is sturdy, the spreadsheets created while using it aren’t. A University of Hawaii study found that 88 percent of spreadsheets… Read full post »
May 25, 2017
The 2017 Budget announced today by the Minister of Finance includes a Family Incomes Package comprising proposals to: adjust the bottom two tax thresholds,discontinue the Independent Earner Tax Credit,increase the Family Tax Credit rates for children under 16, andincrease the abatement rate and… Read full post »
May 25, 2017
To make sure you get prompt payments of any refunds in the future please add or update your bank account details for each of your tax types. You can do this anytime online through your myIR Secure Online Services account. Please update your bank account details for all tax types, even if you… Read full post »
May 25, 2017
Should there be a Shareholders Agreement? Mostly yes, at least for relatively closely held companies. Will it always solve all problems? No, but it often will and it may avoid costly, time consuming, and bitter wrangles. It’s often much worse and much more costly trying to solve problems… Read full post »
May 1, 2017
New withholding tax rules apply from 1 April 2017 which can have an impact on the withholding obligations for businesses. Most of you will be aware and familiar with the requirement to withhold tax from certain subcontractors. And you will probably be dealing with subcontractors who use a company… Read full post »
April 26, 2017
Ever ridden in a car with worn-out shock absorbers? Every bump is jarring, every corner stomach-churning and every red light an excuse to assume the brace position. Owning an undiversified portfolio can trigger similar reactions. You can drive a car with a broken suspension system, but it will be… Read full post »
April 26, 2017
In April 2016, Uber (the private passenger service operating via a social media smartphone application) came under fire from the New Zealand Government, amidst fears that Uber was changing its rules by dropping its requirements to have a passenger endorsement for their licensed drivers or a… Read full post »
April 26, 2017
Employers must have updated their existing employment agreement templates to ensure compliance by 1st April for the recent changes to the Employment Relations Act 2000 (ERA). Employers who rely on out dated agreements could not only find that some of their provisions may be unenforceable but that… Read full post »
April 26, 2017
If you get money from renting out your house, a room, a caravan or a sleep-out for any time at all - it's income. This means you must file a tax return as you may have tax to pay - you may even get a refund. It depends on your other income (e.g salary or wages) and how much tax you've paid in the… Read full post »
April 26, 2017
You might've seen or heard the recent IRD advertising about undeclared cash jobs. “Whether it's you or your tax agent that prepares your GST and income tax returns, please make sure all your income is declared. If you don't declare cash jobs you can be hit with tax penalties and a criminal… Read full post »