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Tax Talk Newsletter Autumn 2020

Working solo: Tips to stay mentally well  If you work alone or in a small team, it can be easy to neglect your own wellbeing. Here are some ways to keep you feeling well and connected. Working on your own Working for yourself can have its advantages. It can offer the flexibility to choose where and when you work, and the ability to ...

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Tax Talk Newsletter Summer 2020

Government Improving Protections for Consumers and Workers when businesses fail On Monday 4 November 2019, Minister Kris Faafoi released a statement announcing changes that will favourably affect consumers and workers of failed businesses. Changes to insolvency law announced by the Government on 4 November will include requirements to honour up to 50 per cent of the value of gift cards or vouchers ...

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TaxTalk Newsletter Spring 2019

Provisional tax changes   Safe harbour from use-of-money interest (UOMI) A law change for provisional tax modifying the existing safe harbour from UOMI came into effect from the 2018 income tax year. It may be affecting some clients provisional tax calculations. The changes increase the safe harbour from $50,000 to $60,000 of residual income tax (RIT) and extend the safe harbour to non-individual taxpayers. When ...

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Tax Talk Newsletter Winter 2019

Help Your Accountant, and Yourself   - Here are some of the problems we strike when preparing your annual accounts and what you can do to help us: Avoid supplying too much information – our questionnaire will list what we need. Too much information means we have to wade through it, in case there is something you intend us to see. Respond to our ...

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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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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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TaxTalk Newsletter Spring 2018

  AML Law Changes   - Justice Minister Andrew Little has launched a public information campaign to raise awareness about the problem of money laundering by domestic and foreign criminals here in in New Zealand. “The Keep Our Money Clean campaign is about keeping our international corruption-free reputation and making sure Kiwi businesses are informed and prepared,” says Andrew Little. “The campaign starts today and uses print ...

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Tax Talk Newsletter Winter 2018

  The Families Package:  what does it mean for you?   - The Families Package is a collection of changes aimed at assisting New Zealand families and helping children get the best start in life. They come into effect on 1 July 2018. Best Start tax credit Best Start is a new weekly payment of $60 per child, available to eligible parents who have a ...

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Tax Talk Newsletter Autumn 2018

  Get organised for annual accounts   - The 31st of March is rapidly approaching. Now is a good time to think about getting organised for your annual accounts to minimise hassles. The following comments are based on a 31 March balance date. If yours is different, please adjust accordingly. If you have bad debts, write them off before you get to 31 March or ...

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Tax Talk Newsletter Dec 17/Jan 18

  Smile:  it's good for business   - What do Jacinda Ardern, Winston Peters, and Bill English (and John Key before him) have in common? When they see a camera, they almost always smile. Smiling is most important when selling. And like all good sales people, politicians are constantly promoting their product. Here's an example of a winning smile. Jane’s father was dropping her off at ...

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