News
Discounted tax for your first year in business
If you’re new to business, you may be eligible for a discount for paying your income tax early. This applies to sole traders, contractors and partnerships. Start by checking if the early payment discount makes sense for your situation and your cash flow. Then set yourself up with good systems and get your tax ducks in a row. How it works In ...
Wishing you all a Safe and Happy Holiday
As 2020 comes to a close we wish you all a Safe and Happy Holiday. What a year 2020 has been!! Thankfully in NZ we have been spared from the terrors of Covid-19 that many other parts of the world have had to endure. So let’s be thankful and happy and take this Holiday season to recharge our batteries and get ready to ...
Tax Talk Newsletter Summer 2021
Be realistic with social media expectations You’re starting out in business, or maybe you’ve been in business a while but everyone is saying you need to have a social media presence. If you agree, and if you’re a small business, you have to be realistic in what you can do with social media. The first rule is not to overdo the number of ...
2020 Law changes round-up
From tax changes and parental leave, new vaping rules to marketing during the America’s Cup, check out this summary of 2020's new laws. A lot has changed this year, so make sure you know the new rules that apply to your business. Parental leave When: From 1 July 2020 What: Government-funded parental leave payments extended from 22 weeks to 26 weeks. Unpaid parental leave, ...
Reserve Bank proposes reinstating LVR restrictions
The Reserve Bank of New Zealand- Te P?tea Matua is seeking views on its plan to reinstate loan-to-value ratio (LVR) restrictions on high-risk lending with effect from 1 March 2021. LVR restrictions are used to reduce the risks to financial stability caused by higher-risk lending. The restrictions were removed in April to best ensure credit could flow and avoid an adverse ...
Law change: Privacy Act for the digital age
Law change: Privacy Act overhaul to protect personal information in the digital age If you collect, store or use personal information about employees and/or customers, it’s important to: check your business meets existing privacy requirements get ready for the law change. Here’s what you need to know and do to keep people’s information safe and secure. What’s new When: From 1 December 2020What: Changes ...
Introduction to holidays and leave
Introduction to holidays and leave There are different rules for different types of leave. Understanding your obligations as an employer makes it easier to work out leave entitlements and approve leave applications — leading to happier, more productive employees. Holidays and leave at a glance All employees working in New Zealand are legally covered by the Holidays Act (2003). The Act requires that: as ...
Changes to Small Business Cashflow (Loan) Scheme
12 November 2020 The Government has announced some changes to the Small Business Cashflow (Loan) Scheme. No interest will be charged if the loan is repaid within 2 years. Currently, it is 1 year. Restrictions on how the loan can be used have eased. As well spending on core operating costs, businesses will be able to choose to use the loan to invest ...
Is your business name available?
Use this website to check if your proposed business name is available or not. It checks on business name, Trade Mark, Web Domains and Social Media. Click here: https://www.business.govt.nz/onecheck Source: www.business.govt.nz ...
Reserve Bank seeks to preserve benefits of cash
Reserve Bank seeks to preserve benefits of cash 19 October 2020The Reserve Bank – Te Putea Matua is taking on a new role of steward of the cash system “to preserve the benefits of cash for all who need them”, Assistant Governor Christian Hawkesby told the Royal Numismatics Society of New Zealand annual conference today (Wellington, Monday, 19 October 2020). “Cash is ...