Is your business ready for financial year end?
February 29, 2024
Financial year end is fast approaching. Here are 10 quick tips to help you get ready for financial year end:1) Bank Statements - Start collecting key account statements for the period 1 April 2023 to 31 March 2024. For example, bank statements, loan statements, hire purchase...
Entertainment.... can I claim that?
November 23, 2023
With the silly season upon us, it's a good time to refresh on what entertainment costs are deductible for your business. If an entertainment cost is completely related to your business it can be 100% deductible. However, being "completely related" is not always e...
Jess's Top 5 Software Systems to Help Run Your Small Business
October 24, 2023
With so many software systems available to help run your small business it can be challenging choosing the right ones for you. Here are my top 5!1) Xero - it's no surprise that I LOVE Xero! The online accounting software system makes invoicing, bank reconciliatio...
Up the Wahs!
September 6, 2023
Deductible sporting events
Just thought I would let you know of some instances where Warriors (or any other sporting event) can be deductible for Income Tax and GST in your business. Warriors games would fall under the entertainment rules for tax purposes and there are times they can be 50% deductible...
How to make voluntary KiwiSaver payments
June 11, 2023
As a small business owner in New Zealand, your income may not always come in the form of regular PAYE payments. However, that doesn't mean you can't take advantage of KiwiSaver to help save for retirement or purchase your first home. You can make voluntary contribution...
Why not pay your income tax weekly?
May 11, 2023
Spreading out any large bill over a monthly or even weekly payment plan can be a lot easier on the cashflow. So why not do this with your income tax, instead of waiting for the standard Terminal Tax or Provisional Tax due dates?The tax dates don't change. So if y...
Haven't received your Cost of Living Payment?
August 8, 2022
I've had a few questions regarding the Cost of Living Payment, with the first instalment (of three) released this week. If you haven't received the first payment, and think you are entitled, see the below for some of the common reasons I have come across so far:
1) Check you...
Got Sharesies? Don't forget your Tax-ies....
December 30, 2021
Online share investment platforms such as Sharesies, Stake and Hatch have made it easy to buy shares (or parts of them) for a no minimum starting amount. I've seen an increase in new share investors, thanks to the platforms, so thought it would be a timely reminder that shar...
eInvoicing is here!
November 30, 2021
eInvoicing is a government initiative introduced to help speed up the processing and payment of invoices. The function allows you to directly exchange invoice data between two accounting software systems. For example, Xero (accounting software) users can create a...
Keep on Top of Tax!
December 12, 2020
5 Quick Tips for Small Businesses to Keep on Top of Income Tax
1) Run regular year-to-date profit and loss reports from your accounting system (eg Xero; MYOB) to help calculate your income tax. If you are not currently using an accounting system, consider getting one.
2) Use the IRD's Income Tax calculator to help estimate your income t...
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