Entries by wp.admin

Ring Fencing Rental Losses

Ring Fencing Rental Losses A proposed new law will stop residential rental investors from offsetting rental property losses against their other income. If you have a loss-making rental investment, you need to know about this. The new law will come into effect from 1 April 2019. Current Situation Currently, if you own a residential rental […]

Kiwisaver for Business

Kiwisaver for Business As at 31 Mar 2017, 2.7 million people had Kiwisaver accounts with a total of $41 billion invested. As a Kiwisaver investor, in exchange for tying your savings up until you’re 65, the government contribute up to $521 per year to your account. If you are an employee, they also force your […]

ACC for Business

ACC for Business What is ACC? ACC (Accident Compensation Corporation) is a government entity that provides no-fault accident insurance cover for everyone in New Zealand. If you get injured in an accident, ACC will pay for your treatment and care, and will pay you compensation for loss of income if your injury prevents you from […]

An Example Business Structure

An Example Business Structure Clive and Carla Clive is escaping the corporate world after 20 years as a marketing executive to become a freelance consultant. He is leaving the world of high cost marketing campaigns to help small business owners build brands on a budget. Clive’s wife Carla is a qualified accountant and will help […]

Choosing a Business Structure

Choosing a Business Structure There are four types of legal entity used to own most private businesses in New Zealand: sole-traders, partnerships, companies and trusts. Before choosing your business structure, consider the pros and cons of each below. Sole Trader If you start your own business without forming a separate entity, you are automatically a […]

Registering Your New Business with IRD

Registering your New Business with IRD If you have decided to start a business, your first question may be whether you must register the business with IRD. Let’s first clarify what a business is. A business is an activity carried on to make money. Your business will be owned and operated by a legal entity […]

Year End Tax Planning

Year End Tax Planning 31 March is the tax year end for most of us. Here are a few things you can do by 31 March to save cut your tax bill. Write off Bad Debts If you have overdue debtors that you will probably never recover, you can claim a bad debt deduction for […]

Should you be a GST Registered Consultant

Should You be a GST Registered Consultant? If you are starting out as a consultant, you may or may not have to be GST registered. If it is not required, it may or may not be to your advantage to register voluntarily. This article explains why. How does GST work? Goods and Services Tax (GST) […]

Ratios – Making Sense of your Numbers

Ratios Making Sense of your Numbers How to Make Sense of Your Financial Statements Often when I show a client a financial report, they respond with a blank stare. When I point out a figure in the report, such as their net profit, they may ask something like: “is that good?”. They are appropriate responses […]

New Company Car Rules

New Company Car Rules A new Option for Claiming Company Car Expenses Small business owners typically have one vehicle which they use for both business and personal use. A common question is whether their company should own their vehicle. Until recently, company ownership of your car meant the company claiming 100% of the vehicle costs […]