FBT during lock down
There are no specific changes to the legislation for FBT and the use of motor vehicles as a result of the COVID-19 lock down. However, given the limited ability to actually use the vehicle, there is an opportunity to prohibit all private use during the lock down period.
COVID-19 Wage Subsidy (updated 27 March 2020)
The COVID-19 wage subsidy scheme has been modified. This is to help businesses that need to shut down under Alert Level 4 pay workers for an extended period of time.
Tax relief for Mycoplasma bovis farmers
On 27 March 2020, the Government advised that it intends to introduce legislation to ensure that farmers whose herds were culled in response to the Mycoplasma eradication programme will not face an undue tax burden.
Government Announces Coronavirus Package
The Labour-led government has outlined a ‘once in a lifetime’ support and economic stimulus package to address the unrivalled impacts of COVID-19 on New Zealand.
Dealing with the Drought and Coronavirus
The effects of the drought and Coronavirus are starting to be felt closer to home. We’re seeing government and local bodies pull together with relief packages. Here is a summary of essential information.
Would I make more money if I was a Contractor?
There are many benefits to working as a contractor – you set your own hours, you choose the jobs and the clients you work for and all the income is going in your pocket. But before you hand in your resignation, you need to understand what it really means to be a contractor.
Deck the Halls – but only if you can afford to
Employees at Christmas time lock the doors, turn out the lights and waltz away carefree for two, three or four weeks, sleeping easily with the security of holiday pay. But as a business owner, it can be a stressful and expensive time of year. It’s important to plan paying staff and taxes before you start Christmas shopping.
Nothing is so simple that it cannot be misunderstood
There are four main types of communication – verbal, nonverbal, written and visual. Exchanging information and ideas happens constantly. However, this communication is only effective when the message is sent and received accurately.
Simple, Smart and Occasionally Magic
Xero markets itself as simple, smart and occasionally magic… And we couldn’t agree more! Xero will change the way you think about accounting. It’s the first accounting software created for non-accountants and primarily targets small to medium sized businesses.
Selling your Business
If you decided to sell your business today, do you have your fingertips on the financial statements that would maximise the value in the sales process? Because this is the first item that that any potential purchaser is going to ask for.
Paying tax on your own terms
Every business owner should read and understand their annual accounts. These are your reports and they tell an important story about your business. Having said that, many business owners don't have a background in accounting and don't have the financial skills they wish they had.
Money on your mind?
With the changes to government legislation and the IRD automatically processing tax refunds, initial estimates indicate that 1.6 million people are in line for a tax refund to the tune of $150 million. Don’t panic if you haven’t received yours, IRD says it has reached the half-way mark with $319 million refunded to taxpayers so far.
Doing good for something you care about
An auditor worth your time and money, should provide you with an additional management report or letter that provides feedback from their evaluation of your systems and highlights areas of possible weakness or where improvements can be made.
2019 Budget Announced
New Zealand’s inaugural “Wellbeing Budget” was delivered by Minister of Finance Grant Robertson today. Budget 2019 represents a significant change from how Budgets have previously been designed, developed and presented. It will be up to all New Zealanders to decide if the Government is focusing on areas they value the most.
Reckless Trading and Insolvency
The recent decision in the Mainzeal court case is a timely reminder of what a Company Directors Statutory duties are.
Mainzeal Directors breached their duties under Section 135 of the Companies Act for “reckless trading”.
The Importance of Workplace Culture
A strong culture is a power talent attractor. It can win you access to the best talent in your industry and be the glue that retains top employees amid fierce competition.
Growing Pains in Business
Growing pains in small businesses can be a sign that the business needs better internal systems.
It’s been both my personal experience and my experience as a business advisor and coach, that some of these pains are more common than others.
Growing Your Business in 2019
There are a million things you could do to grow your business and there are probably more than a million people out there willing to tell you how to do it. These two things together equal a whole lot of noise and for many business owners the noise can be hard to filter.
January and Cashflow Management
From Xero: Less than 40% of Small Medium Enterprisess have a positive cashflow in January
Can I Trust in My Trust
Trusts have been around since the 12th Century during the time of the crusades. In NZ, Trust legislation is governed by the Trustee Act 1956 and a lot of case law thereafter. So it’s not surprising it’s difficult to understand and hard to navigate for non-professional Trustees.
Changes to GST Rules
New Zealand’s Minister of Revenue today announced proposed new GST rules applicable to online sellers of low-value goods to New Zealand consumers.
Jono Bredin tells us about Capital Gains Tax
The Tax Working Group (TWG) has today released their final report which has confirmed close to 100 specific recommendations across New Zealand’s tax system including a broad Capital Gains Tax.
Trusts and Trustees
By Alison Lemon
Trust characteristics, trustee duties and disclosure, risk and liability and breach of trust...
Introduction to AML for clients
We want to advise you of law changes that will apply to accountants and their clients from 1 October 2018. These laws already apply to lawyers, banks and financial service providers; and are known as AML (Anti-Money Laundering and Countering Financing of Terrorism Act 2009).
How to Exceed Expectations
Ask them, listen and then give them more than they bargained for.
Key Performance Indicators - What are they?
By Alison Lemon
KPI’s are the key drivers in a business that if tracked accurately and consistently can ensure that you are proactive about monitoring trends or achieving goals.
Fixing Debtor Disasters
Xero reported that from January 2015 to September 2017 30% of invoices were paid more than 7 days late. This equates to an average of $3,000 in overdue debtors for every small business a month. Here are six practical ways to solve your debtor disasters.
How to Win in Business
“You were born to win, but to be a winner, you must plan to win, and expect to win” Zig Ziglar. Statistics show that 20% of businesses fail in the first year, a further 33% fail in the second year and by the time the tenth year occurs 70% of the start-up businesses have failed. We talk about how to avoid being a statistic and stick to success.
Changes to Parental Leave
From 1 July 2018, the number of weeks a parent can get government-funded parental leave payments increases from 18 weeks to 22 weeks. Find out more about these and other changes.
How to Throw your Accountant out of a Plane
Now is your chance to throw your accountant out of a plane - AND - do good. Jancy Stott openly shares why she jumped at the chance to support Alzheimer’s Northland.
Work Hard Play Hard
Life is all about balance. When we work so many hours to bring home the bacon it’s important that we can get out and enjoy a little fun as well. However, it's important to be ready should anything go wrong. Here is a simple Guide to ACC CoverPlus Vs ACC CoverPlus Extra.
"Get serious about dirty money." by Dawn Alexander
New Zealand has fallen behind the rest of the world in terms of the level of regulation around AML/CTF, becoming an easy target for global criminals.
2018 Budget Announced “Foundations for the Future”
“Foundations for the Future” is the catch cry attached to Budget 2018 delivered by Minister of Finance Grant Robertson today - others may label it “A change of tack".
New Director Announcement
We are delighted to announce that Jancy Stott has been appointed a Director of PKF Poutsma Lemon Kerikeri Limited.
The Secret to Business Success
Being a business owner is often a lonely and stressful place. You’re busy working in the day to day operations of the business to keep the customers and staff happy. Find out what our secret is to solving your problems.
Kerikeri is full of innovation
We sent Jancy and Krystal along to represent PKF Kerikeri at the recent Kerikeri District Business Association event.
Need a Loan to Grow your Business?
The Northland economy is clearly growing as evidenced by the struggle to find a car park or queuing in traffic that little bit longer not to mention that there are far fewer retail spaces available to rent.
Could a robot do your taxes?
If you followed the TVNZ broadcast of ‘What’s Next?’ earlier this year, you’d have caught a glimpse of what New Zealand could potentially look like in 2037.