Category: Business Advisory


Top 10 strategies to navigate through a recession

Cost and Cashflow Management will be critical to ensure the health of your business in the current economic environment. Here’s our checklist to assist you to manage some of the financial challenges ahead. Employees and Wage cost Consider retaining all employees through Reduced hours Utilising accrued leave Leave without pay Assistance provided by the Government […]

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Covid-19 Business Support Package

Yesterday the Government unveiled its $12.1 billion support package for businesses affected by Covid-19. Below we set out the highlights and provide some details of the key measures: $5.1 billion wage subsidy package $2.8 billion towards benefit increases doubling of the Winter Energy Payment $2.8 billion for tax changes to free up cash flow $126.5 […]

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End of year checklist

With the new financial year almost upon us, there’s not much time left to ensure you have your ‘house’ in order for 31 March. Our 40-point checklist below will guide you through the year-end process and ensure you maximise your tax deductions and minimise your annual tax bill. Assets Assets purchased costing $500 or less […]

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Cashflow Shortfall?

Cashflow can be a real issue for a business and maintaining a suitable level of working capital is a critical part of business management. Working capital is essentially the cash available for the day to day running of a business. In a perfect world, the payment of expenses incurred in running a business would directly […]

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SHOULD YOU USE TAX POOLING?

Yes, we certainly think so. It is Inland Revenue approved and has been around since 2003. In a nutshell, instead of taxpayers paying their provisional tax payment to the Inland Revenue, they deposit their provisional tax payment with a tax pooling intermediary who then deposits that payment into a tax pooling account with Inland Revenue. […]

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A delicate balancing act

By Hayes Knight – 9 November 2017 Rapid growth sounds like a good problem to have, but it can take a good business down if not managed right. Walking that fine line between explosive growth and chaos requires balance. As Katie and Andrew Phillipps have found while building their childcare company Provincial Childcare Holding Ltd, […]

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Paying IRD by cheque – The screws are tightened

For some time Inland Revenue and other Government organisations have been pondering changing how their customers can make payment.  Specifically, whether you will be able to make payment using a cheque.  There has been some reluctance for Government departments to be seen as the “first cab off the rank” in proceeding with this change.  Recently however Kiwibank has announced it will be going cheque free from 28 February […]

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Time to hang up the boots?

There will come a time with most business owners when the drive for running their business diminishes and is replaced by dreams of cruises around the Greek Islands. However, what many people want to know is how to make sure you get the most out of the business that you have spent years building. There […]

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Was your tax payment received on time?

Technology has seen more and more of us making our tax payments electronically, which Inland Revenue actively encourages. It is therefore timely to review when Inland Revenue accepts payments as having been received on time. NEW ZEALAND ELECTRONIC PAYMENT will be received on time when it has been electronically paid or direct credited into an Inland […]

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Residential Rental Loss Ring-Fencing

Not only have residential investors been hit with the extended 5-year bright-line test, the new loss ring-fencing rules will mean many residential rental property owners may struggle to cashflow the costs of owning their rental property. Legislation was passed in mid-2019 which ring-fences residential rental losses from the beginning of the 2020 income year. A […]

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Synergy by name and by nature

Synergy (noun) – “The interaction or cooperation of two or more organisations, substances,or other agents to produce a combined effect greater than the sum of their separate effects.” James Alexander and Alex Ward are clear on one thing; a foundation of their success in business is their complementary skills. Since starting Synergy Flooring nearly two […]

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