News

New ACC levies set

The ACC levies have been set by regulation for the 2019-20 and 2020-21 tax years. For both tax years the earners’ levy remains the same at $1.39 (GST-incl) per $100 liable earnings. The minimum liable earnings for self-employed workers increases from $32,760 to $34,320. The maximum liable earnings will increase for: self-employed people from $124,053 to $128,470 in the 2019-20 tax year, and ...

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Tax Talk Newsletter Autumn 2019

  Get End of Year Right   - If you want to write off a bad debt & claim your loss in the current year, you must do this before your business balance date. Depending on your system of accounting, this could involve writing something like “debt written off by me on. . . Date signed. . . .” across a copy of an ...

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Minimum wage rises by $1.20 on 1 April 2019

The minimum wage is going up from $16.50 to $17.70 per hour. Here’s what you’ll need to know for your business. Minimum wage rises When: 1 April 2019 What: The new minimum wage rates, before tax, are: • Adult — $17.70 an hour • Starting-out — $14.16 an hour (up from $13.20) • Training — $14.16 an hour (up from $13.20) Read our page on minimum pay ...

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Expert tips for starting a business

There’s no magic formula for starting a successful small business, but the better your decisions early on, the better your chances. We’ve asked experts for their tips. Starting out People start their own businesses for various reasons, and everyone sets out to succeed. But even with dedication and the best of intentions, the majority of new businesses still don't make it past the ...

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Changes to the Employment Relations Act

Some employment law changes came into effect in December 2018, and more changes are coming in May 2019. Check how they impact you. When: 12 December 2018 What: Changes to the Employment Relations Act now in effect include the following: Union representatives can now enter workplaces without consent, provided the employees are covered under, or bargaining towards, a collective agreement. Pay deductions can no ...

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Tax Talk Newsletter Summer 2019

  Family Business Planning Over Summer   - The summer holidays offer a good opportunity to get together and discuss plans for your family business. But there are some rules you should follow to make sure it’s only the barbeque that gets heated! Dinner discussions: Why they're important Working in any family business – where two or more family members work in a business owned ...

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Hobby or Business?

You sell the odd hand-knitted scarf to friends, or maybe you sell your knitwear every week at local markets. Regular sales can mean you’re in business, and have tax obligations to fulfil. Questions to ask yourself It's important to understand the differences between a hobby and a business. A small side hustle you’ve been doing for years could be classed as a ...

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Owner-operators: Tips to beat isolation

Being a solo operator can be isolating, and it can sometimes feel like your work is your life. It doesn’t need to be like that. Read on for tips to help you feel more connected.   Support when you want it   There’s a lot to be said for being your own boss. Going it alone means you control your business – and all ...

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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 an employer, you keep ...

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Family business planning over summer

The summer holidays offer a good opportunity to get together and discuss plans for your family business. But there are some rules you should follow to make sure it’s only the barbeque that gets heated! Dinner discussions: Why they're important Working in any family business – where two or more family members work in a business owned by the family – has ...

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