Would you believe it’s November?! The race that stops a nation, the Melbourne Cup went down yesterday and as your advisers, you’ll be delighted to know that all those winnings you made are tax free! The IRD are tough these days, not only on cash jobs, but also your tax deduction claims. So, sadly, all those that ‘donated’ to the TAB aren’t able to claim a tax deduction.
Xero Touch
With business getting more and more mobile and in-the-now we’re seeing more clients utilising the mobile app, Xero Touch. It’s great as it means less work for better accounting records. Download the app on your iPhone or Android and next time you fill up the car, use the app to snap the receipt then biff it – too easy! On the petrol front, if you’re ever heading north, swing by Caltex on Old Hutt Road as it’s usually 30 cents cheaper than town!
If you’re a bit of a techno-phobe, or not quite nailing the app, Harri is the girl to get in touch with who I’m sure could teach anyone, except maybe my Dad. Drop her a line or give her a bell.
Cash, $$, bucks, whatever you call it
Construction – Inland Revenue is looking at you. IR is continuing to target undeclared cash jobs in the construction industry; and if you’re caught the penalties, even criminal convictions, are hefty. The best thing you can do is keep tip-top records about all cash jobs, and Xero is great at achieving this. Please let us know if there’s ever the ‘odd cash job’ going in your personal account or back pocket – it’s much better to declare these to Big Brother. We know the questions is always ‘how will they find out?’ well, IRD is getting smarter, as crafty as you may think you are. Check out this article, or get in contact with us if you’re worried, we’re on your team.
Cash. Of course, regardless of your industry, there may be cash transactions here and there, all-be-it likely growing lesser in nature. While you may think you get away with running a bit of cash through the shadows, there’s a few negatives to this: 1. It’s risky for your business and your personal life 2. Do you really know how your business is going? 3. How will it look next time you need to borrow from a bank? Just a bit of food for thought 🙂
From 1 April 2025, New Zealand’s minimum wage will increase, impacting businesses across the country. As an employer, it’s essential to understand how these changes affect your payroll, budgeting, and overall business operations. Here’s what you need to know to stay compliant and prepared.
The good news? There are practical steps you can take to regain control of your time and create a healthier work-life balance.
You started your business to enjoy the freedom of being your own boss — yet somehow, you’re working longer hours and feeling overwhelmed with admin, meetings, and constant demands.
The good news? There are practical steps you can take to regain control of your time and create a healthier work-life balance.
With 31 March fast approaching, now’s the perfect time to prepare for the end of the financial year. Acting early can save you time, reduce stress, and ensure your business is ready to thrive in 2025. If you’d like a checklist to guide you through the process, reach out — we’re here to help.
As your accountant, we’re not just here to manage your finances — we’re also here to support your strategic growth. One vital part of that growth is business development (BD). By driving your BD strategy forward, you can transform your company from steady, organic growth to fast-paced expansion and lasting success.
In today’s unpredictable economic climate, knowing what’s ahead is a game-changer for business leaders. But with economic shifts, political changes, and evolving market conditions, predicting the future isn’t easy.
Did you know that 95% of New Zealand small businesses experience at least one month of negative cash flow each year? This means that even profitable businesses can find themselves struggling to pay bills if they’re not actively managing their cash flow.
