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Your employees who choose to opt into KiwiSaver cannot opt out. Only new employees you are automatically enrolled in KiwiSaver can opt out. Requests to be opted out after 8 weeks (57 days) are LATE OPT OUT REQUESTS. How your employee requests a late opt-out Employees will need to send their KiwiSaver late opt-out request to Inland Revenue. Approving a late opt-out request Inland Revenue must approve the late opt-out…  Read more

When it comes to running a small business, maintaining a healthy cash flow is essential for sustainability and growth. Your business can be incredibly profitable but still ultimately fail because of improper cash flow management. To prevent that from happening, here are some best practices that can help you better manage your cash flow and maintain the financial health of your small business. Remember, the key to success is to…  Read more

With the end of the financial year approaching, it’s a good time to make sure everything is in order and ready for balance date. Here’s a few things to consider and/or action for the end of year the financial year. Write off Bad Debts Do you have debtors that you’ve taken all reasonable steps to recover a debt, yet your customer still hasn’t paid you? You might be able to…  Read more

You’ve likely heard the phrase “in the black” or “in the red”.   Your balance sheet is the tool that shows you whether your business is indeed “in the black”, or on the right side of the ledger, and is therefore the most important report to read and understand.   It is a snapshot in time of your business up to the point of the date of the report, where a profit…  Read more

ACC is one of the most confused topics we discuss in our client meetings.  So lets see if you can help clarify what its all about. When you are receiving wages and having PAYE deducted, there is a portion of this that relates to ACC Earner Levy cover – that is the cover for all non work related injuries, and everyone getting a wage pays this portion within their IR…  Read more

Applications for Cyclone Gabrielle business recovery grants are now open says David Templeton from Northland Inc. CYCLONE RECOVERY FOR BUSINESSES If you own a business in Taitokerau Northland and your cashflow has been affected as a result of Cyclone Gabrielle, you can apply for support to help you recover. Grants of between $5,000 – $40,000 are available to businesses in the Taitokerau Northland region who have been impacted by Cyclone…  Read more

During and after a disaster or emergency, employers and employees main concern is consideration of issues such as health and safety, emotional wellbeing and payment options for employees.  This comes before thinking about the interests of the business or organisation. Employers and employees should remember to keep in regular contact and deal with each other in good faith. If the workplace cannot be accessed, is closed, or is open but…  Read more

Annual inflation remains stubbornly high, at 7.2 percent. The main drivers are household costs, such as rent and maintenance, higher food prices, and building costs. Inflation has really ballooned worldwide, and there’s no question that small businesses are feeling the pinch. Supplies cost more, employees are hard to find, and your profits are shrinking. It’s undoubtedly challenging, but you can weather the storm with the following tips. 1. Study your…  Read more

Depending on the nature of your business, you may have workers who are employees or contractors, or you may have both. Each has their merits, but it’s important to review which are which in order to meet your tax obligations. When you have an employee, you must withhold income tax as well as report on additional benefits. Contractors generally look after their own tax obligations. It’s against the law to…  Read more

In a world with endless distractions, it’s no wonder that we find it difficult to complete tasks. Focus is hard to come by these days. This is especially true when you’re working from home. Household tasks that would otherwise be out of sight and out of mind are suddenly in your workspace. With that said, there are some proven methods to help you get things done. Time blocking and Time…  Read more

Christmas is a time of sun, sand, lots of food and family time here in the Southern Hemisphere.  Ensuring employees get paid right for the public holidays however can be a challenge for those employing staff.   We thought we would put together some examples to help you on with navigating the challenges of the Christmas payroll this year. PUBLIC HOLIDAYS THAT FALL ON A WEEKEND  How to work out pay…  Read more

The holiday season is without a doubt the busiest time of year for many retail businesses. It’s a great opportunity to showcase all that you have to offer and bring in new products to see how they do. But, the excitement probably wears off when you think about managing all that inventory. Don’t despair. With a bit of preparation you can manage your inventory during the holiday season, and glide…  Read more

The Fair Pay Agreements Act 2022 (FPA Act) has been passed, and will come into effect quickly, on 1 December 2022. The new Act is the biggest change to employment law since the Employment Relations Act 2000. What is a fair pay agreement? A fair pay agreement is an agreement that applies to all workers across entire industries or occupations. It will provide minimum terms and conditions of employment for…  Read more

The holidays are officially upon us, and chances are you’re starting to feel a bit spendy. It’s only natural. We want to spread that feeling of good cheer around by buying presents for those we love. There’s nothing wrong with that, but keep your pocketbook in mind. Nothing kills the joy of the season like a giant credit card bill come January. Keep your spending in check by following these…  Read more

The holiday season is typically busy, whether you run a retail business or a service-based one. If you’re not helping shoppers, you’re helping your clients fit in their appointments before year end. There’s a lot to do and the time passes quickly. Take this opportunity to show clients and customers how much you appreciate their business. After all, it’s less expensive to retain existing clients than it is to attract…  Read more

The end of the year tends to be a bit chaotic for business owners, but it’s actually a good time to get some extra housekeeping done for your business. Read on for some tips to help you finish the year neatly and feel prepared to face the new year. Review your goals and KPIs A lot has likely happened for your business over the course of the previous 12 months.…  Read more

Upgrading or changing your payroll system comes with a ton of wonderful benefits. Saving time and money, making everyone’s lives easier, and better integration are all good reasons to consider a change. But if the switch is mishandled, the results can be catastrophic and lead to long-lasting problems. Read on for some tips on how to avoid a disastrous payroll system migration. 1. Give the project the time it needs…  Read more

Happy Cyber Smart Week! 10-16 October 2022 As we continue to move more and more into a Digital day and age, the risks of cyber attacks also increase. So how do we keep safe online? We have partnered with Cert NZ this Cyber Smart Week to bring you the best tips and tricks to help keep yourselves, your families and your businesses protected! 1 – Strengthen your password game –…  Read more

The government have decreed that Monday 26th September 2022 will be a public holiday to mark the passing of Queen Elizabeth II.  But what does that mean for you as the employer? If your staff member normally works on a Monday, then this is an ‘otherwise working day’ for them and they will be entitled to be paid for that day off and paid at their relevant daily pay (RDP)…  Read more

Did you know there are over 27 Legislative Acts involved in payroll – insane right? So, isn’t it interesting to know that most small businesses have an untrained staff member processing payroll for their team? Payroll is not the back-office data entry job that a lot of people think it is.  In fact, when you start to understand the rules and regulations around payroll, you may be right in thinking…  Read more