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 subject to FBT? A […]
Double cab utes and FBT Read More »
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 in people’s homes or
Inventory Accounting and why it’s important Read More »
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. This can be a
Understanding your Profit and Loss statement Read More »
Holding too much stock regardless of what industry you are in, can have its pitfalls. In busy times it can be beneficial to buy more stock than you require if you know you will be using it or can sell it later. You may even have that buying power when you purchase more or have
Are you holding too much stock? Read More »
If you’re a business owner you have most likely sent your employees off on training courses, workshops, or seminars. You see it as a necessary investment so they can upskill, step up, and further themselves in order to further the business. But how many of you – as business owners – take the time and
Investing in your own education Read More »
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 between the various types
Buying or selling a small business? New rules could affect you Read More »
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. The best part about
10 ways to lift your margin Read More »
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 trusts From now on,
The 39 percent tax rate – your questions answered Read More »
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 your overheads, you can’t
Should I focus on Profits or Cashflow? Read More »
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 your business, by claiming
The Low-Value Asset Threshold for Depreciation after March 16 2021. Read More »
