Thinking of buying or selling your business? A new tax rule comes into effect on 1 July 2021 that will have an impact on the way you negotiate. The new rule is designed to create more certainty in purchase price allocation, which is the way the purchase price is divided up […]
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Improvements can always be made at the margin. Small tweaks to your processes or systems can make a massive difference to the end result. It’s the same with your business margin – a 1% increase in your gross margin on $500,000 of sales is an extra $5,000 on your bottom line. […]
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New Zealanders earning over $180,000 a year will now pay a 39% tax rate, which came into effect on 1 April 2021. If this includes you, are you aware of how your tax obligations change when it comes to shares, property, FBT, superannuation tax, or trusts? The 39% tax rate and […]
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Turning a profit is at the heart of running any successful company. But should profits be the only financial focus if you’re looking to create a stable, long-term business? Cashflow is the beating heart of your business. Without an even and predictable flow of cash into the company, you can’t cover […]
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The temporary increase to $5,000 for the low-value asset threshold for depreciation ended on March 16th This means if you bought something before the 16th of March 2021, you could write off the whole amount against your taxable income this year. Depreciation spreads the cost of assets that you buy for […]
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Provisional tax payment dates do not always fall at a convenient time. There are always competing cash flow pressures and other business expenses to consider. Through tax pooling, you can gain full control over when and how you pay provisional tax and save money in the process. Firstly, how does it […]
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By now, Xero users in NZ will be familiar with the additional security measures on your Xero account since Multi-factor authentication (or MFA) has been applied. It is not as daunting as it sounds as it takes a few extra minutes for the initial setup and then each time you log […]
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With more and more people using their mobile phones for work purposes, let’s take a look at how Xero has bought their software to the mobile world. Xero has five mobile apps that work on Google’s Android and Apple’s iOS operating systems. The apps are Xero mobile accounting, Xero Me, Xero […]
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Earlier this month we had a visit from our PayHero Partner Program Manager, Jacinta, who filled us in on what PayHero has been up to behind the scenes as well as important updates regarding how proposed changes to the Holidays Act will be applied to the payroll software. It is important […]
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From 1pm Thursday 4 March you can apply for the March 2021 Wage Subsidy scheme. TO QUALIFY: Your business needs to experience a 40% decline in revenue over a consecutive 14-day period between 28 February and 21 March, compared to a typical 14-day period between 4 January and 14 February 2021 […]
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