News
Fringe benefit tax and work-related vehicles
Fringe benefit tax (FBT) doesn’t apply on days where a motor vehicle qualifies to be a work-related vehicle. To qualify, all of the following conditions must be met: the principal design of the vehicle isn’t for carrying passengers the exterior of the vehicle permanently and prominently displays business signage employees are notified in writing that the vehicle is available only for travel between ...
Entertainment expenditure - gifts of food and drink
The entertainment expenditure rules in subpart DD of the Income Tax Act 2007 limit tax deductions for certain types of expenditure to half the deduction normally available. One type of expenditure covered (with exemptions) is expenditure on providing food and drink off business premises. This means that spending on things like chocolates or a bottle of wine to give as gifts to ...
4 steps to get your growth moving
Helping New Zealand’s small businesses grow would benefit our economy — but many lack the time, confidence or both to set their sights higher. Andrew Hamilton, chief executive of The Icehouse, offers his tips. Kiwi business owners are the heroes of our economy. We know small business owners and operators tend not to sit back and relax — running a small ...
Keeping track of key metrics
Monitoring your key performance indicators, numbers and metrics are an important part of running a successful business. It’s not all about measuring profit and loss either. You don’t need to get caught up in the figures, but knowing which metrics to follow, and why, will help you spot problems and keep track of how you’re growing. There isn’t a “one size fits ...
Owed money? Tips for chasing debtors
Good cash flow is essential for the success of your business. To get paid on time, don’t let unpaid invoices and debts build up. In an ideal world, you’d get paid as soon as you sold your goods and services or sent an invoice. But in the real world, sometimes you have to chase payment. Check out our guide to getting paid ...