The IRD have advised that if taxpayers are adversely impacted by COVID-19, and they pay the outstanding core tax as soon as practicable that they will automatically write-off any penalties and interest. Support from the IRD: The type of relief available for new debt due to COVID-19 if you are unable […]
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A second payment of the Resurgence Support Payment (RSP) has been announced. Applications will open for the second payment at 8am next Friday, 17 September on Inland Revenue’s website, www.ird.govt.nz. The announcement says businesses will need to show a 30% or more drop in revenue in a 7-day period from 8 […]
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Stuck in lockdown and feeling frustrated? It could be the perfect time to do some planning. Having a plan, or just a couple of goals, can help you make better business decisions and sort out your priorities.
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Can you make employees take annual leave during lockdown? Can you make them take a pay cut or reduce their hours? We’ve got links to all the information you need to meet your responsibilities as an employer.
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Are you ready for the changes? Trustee compliance obligations are set to increase yet again with the introduction of additional tax information disclosure requirements. Inland Revenue will require additional information relating to a trusts and its activities. This will take effect from the 2021-22 financial year and its intent is […]
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**This information is correct as of 20 September 2021 and will be updated as more information becomes available. The Government has approved another wage subsidy and is calling this Wage Subsidy August 2021 #3: Applications for the first two rounds are now closed. Applications for #3 close on the 30th of […]
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Do you own a double cab ute and are you exempt from FBT? If you own a double cab ute you may have seen articles recently about whether or not these vehicles are exempt from FBT (Fringe Benefit Tax). All you need to know courtesy of Stuff. Firstly, what is […]
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A round-up of the financial support options available for businesses due to the change in alert levels for NZ. This information is correct as of 20th August 2021. We’ll update information as it needs to be.
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Keeping track of your inventory, the time it takes to sell and the profit made on each product is essential if you want to manage your business effectively. What counts as inventory? Inventory is anything you buy to on-sell, including fully-completed items to sell in your store, products that you install […]
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Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure. Whereas a balance sheet is a snapshot in time, the P&L shows transactions over a specific period of time. […]
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