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 »
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 work? The tax pool
Tax Pooling and Provisional Tax Read More »
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 in to Xero, an
Xero Multi-Factor Authentication (MFA) Read More »
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 Projects, Xero Expenses, and
Are you using Xero on mobile? Read More »
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 to note that these
Proposed Changes to the Holidays Act Read More »
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 (6 weeks before the
The March Wage Subsidy Read More »
