The challenges of running a business are often all-consuming, but if there’s one thing you can’t afford to let out of your sight, it’s taxes. Here’s why.
Getting to grips with the admin commonly associated with the ‘back office’ side of a business isn’t for eve...
8 common ways to trigger an IRD audit
September 30, 2021
There are many things to avoid in business, and one of the most unpleasant is triggering an IRD audit. Here’s how it commonly happens.
Having been involved in many tax investigations (on behalf of clients of course), I can confirm they are not very pleasant and can result ...
5 more small business GST mistakes to avoid
July 27, 2021
Many small business owners are rightly concerned about making errors with Goods and Services Tax (GST), so here are some of the more common and costly to avoid.
As I wrote in my last piece on this topic, if you expect your business to bring in revenue of over $60,000 ov...
5 common mistakes small businesses make with GST
June 18, 2021
The Goods and Services Tax (GST) is a tricky tax to come to grips with for those who don’t deal with it on a day-to-day basis, so here are a few items to make certain you get right.
As a financial advisor and accountant, there are a few errors I see frequently made by busi...
I’m bound to upset someone with this picture - pale, stale and male - but such is life! Is it only old white boffin-like old guys that carry out research and development these days? No, most certainly not, there’s more around than you might think, and the New Zeala...
10 Things to Do Before the Tax Year End
January 13, 2020
What should we be doing as business owners before our Balance Dates or tax year-end, depending on what type of business we are in? There's no point in paying any more tax than necessary.
If you have trading stock (unless it’s clearly not going to exceed...
The Joy of Tax in New Zealand
November 4, 2019
Did you know that the amount you can earn in Australia before you pay tax is now $18,200? Yes, an amazing $18,200 - that’s $350 per week, $700 a fortnight or $1,517 a month. Yes, the rates for higher levels of income may be more, but that's pretty damn good for the lo...
How to avoid a painful tax audit
March 4, 2019
Even the NZX can be caught out by a tax audit. The sharemarket business paid $1.2 million extra tax after the Inland Revenue Department checked its books.
For the average small business owner, the thought of a visit from tax inspectors is enough to make them shiver. We asked...
How to avoid an IRD audit
October 9, 2018
Whilst statistically speaking the chances of being selected for an audit are slim, it nevertheless features way up the rankings as being one of life’s most stressful and unpleasant experiences, and as such, like all nasty things in life, best avoided at all costs!The...
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