Getting my brave pants on

It seems the speaking circuit is calling lately with invitations to speak at a few different events coming forward. I feel very honored to be asked and extremely nervous at the same time. Hearing stories of peoples business journey is always really interesting and hopefully I can inspire a few people along the way.  I wrote a post on our journey in March. I have been invited to speak at…  Read more

Wage increases April 2018

Minimum Wage Increases as at 1st April. The minimum wage increases by 75c on 1 April 2018. The new rates are: Adult $16.50 per hour Starting out $13.20 per hour Training $13.20 per hour You and your staff can agree to any wage above the minimum rate. If your employment agreements are a few years old, you can use this as a chance to update them. Please note that it is…  Read more

Payday reporting

The payroll landscape is constantly changing, and not just for businesses and staff, but those of us who have responsibility of ensuring employees pay is correct.  The Payday Reporting legislation is currently before parliament and proposes to change the way payroll information is reported to the IR. Currently reporting is done on a monthly basis by way of filing our PAYE returns (EMS and EDF schedules along with Kiwisaver forms).…  Read more

Paye as you earn – AIM

Pay-as-you-earn tax (AIM) – what does that mean for you? From April 2018, small businesses, sole traders and contractors can choose a new pay-as-you-earn option, rather than paying provisional tax in instalments several times a year. The IR are introducing the Accounting Income Method (AIM) so you can pay tax based on the profit in your business during the year.  This aligns with the GST monthly or two monthly periods…  Read more

NZ Bookkeeping Partner of the Year Award 2017

The last couple of months have seen me on a plane (or a bus….) more often than not, so it has been lovely to spend the last two weeks at home with my family. Sometimes work seems to take over and the ever elusive ‘work/life balance’ goes out the window. Are you ensuring you are looking after yourself and have balance in your life? September saw me attend Xerocon in…  Read more

Payroll – how do I work out leave entitlements..

Talking about payroll and leave entitlements causes people to run and hide and brings on headaches of gigantic proportions. How on earth is the average business owner meant to understand what their obligations are?  Confused?  I am not surprised! Let me try and explain… 1. Annual leave accrues in weeks not hours The Act provides two dimensions for annual leave – time and money. The time dimension, 4 weeks, accrues at the end…  Read more

How do I get it right? New Contractor Tax Changes

Contractor tax changes (Information courtesy of Business.govt) All contractors can have tax deducted from their pay at a rate of their choosing, and some MUST now do this. If you get it wrong, you might find your pay packet is 45% lighter than you expect. If their payer agrees, all contractors can now have tax deducted from their pay at a flat rate of their choosing.  All Contractors hired by…  Read more

CHANGE IS COMING WITH APRIL 1st 2017

1 April 2017 brings some important changes for taxpayers. Most of the changes are business friendly and are designed to reduce compliance costs. New Minimum Wage Rates The adult minimum wage rate will increase from $15.25 to $15.75 (before tax) an hour. The starting-out wage and training minimum wage will also increase from $12.20 to $12.60 (before tax) an hour. PLEASE NOTE, WE WILL CHANGE THE RATE FOR ANY EMPLOYEES CONCERNED FOR THOSE OF YOU WE PROCESS PAYROLL…  Read more

Where has the year gone? EOFY is coming.. fast!

The end of financial year (EOFY) is zooming up so fast, its hard to get your head around how time just disappears. Now is the time to be thinking about the end of year requirements.   Preparation and some thinking around this now will ensure a smooth process for you.  Here are a few of the things you may need to consider:- Are you changing or implementing software come 31st March?  Are…  Read more

I have a small business… do I really need to file a tax return now?

Generally speaking if you are charging others for goods and/or services with a view to making a profit (your aim does not need to be the result) you are usually operating a business and liable to file a tax return and pay tax on any profit (or claim the loss against any other income if you made a loss). When you have a business you have a range of responsibilities…  Read more

Common bookkeeping mistakes Small Businesses make

Bookkeeping is a significant part of any business endeavor. While it is typically not one of the more glamorous jobs, bookkeeping is at the heart of a businesses success and errors can cost the company significantly. You may be doing your own bookkeeping for your business or are just starting out on the own your own business journey. Here are some common bookkeeping mistakes that business’s make with some practical advice: Not reconciling…  Read more

Want to grow your business? Our Free Resources will Help