‘Business continuity’ is the process of planning out how your company can continue trading – when disaster hits. In essence, it’s your Plan B for how to set up a means of trading, when you don’t have access to your usual offices, workspaces or equipment.

What do the latest changes mean for small business owners with trusts in New Zealand? Starting from the 2024/25 income year (1 April 2024), the tax rate for trustee income has increased from 33% to 39% to match the top personal tax rate.

Have you had a chance yet to take stock of your business incomings and outgoings for the last year? If you monitor business profits and your likely taxation commitments regularly, you’re in the best position to plan properly for upcoming tax payments and minimise any potential Inland Revenue interest charges.

The New Zealand government has unveiled its 2024 Budget with a core election promise delivered regarding tax relief of $2.57b through bracket adjustments. With an adjustment to income brackets, tax rates remain the same but the thresholds are raised.

Landlords and Investors – listen up! I’m sure you’ve already heard but…. The coalition government has confirmed the return of interest deductibility for property investors, with the phased-in changes taking effect from the next financial year. 

Setting goals is an essential part of personal and professional growth. These could be lofty goals, or even setting out a plan to achieve some more mundane (but equally important) projects. Whether that is getting paid faster, reassessing expenses or bigger things like automation of processes and new markets.

The Workplace Relations and Safety Minister has announced that the adult minimum wage will be rising to $23.15 per hour from 1 April 2024. – a 2% increase from the current hourly rate of $22.70. Brooke van Velden had initially proposed a 1.3% increase, while the Ministry of Business, Innovation and Employment recommended 4%.

You need to file your GST return at the end of every taxable period (this may be monthly, 2 monthly or 6 monthly depending on the frequency you have chosen for your business – you can check this with us).

The beginning of a new calendar year is an excellent time to review the year just finished and reflect on what worked, what didn’t, what you’d like to change and new things you’d like to implement.

Setting goals is an essential part of personal and professional growth. These could be lofty goals, or even setting out a plan to achieve some more mundane (but equally important) projects. Here are some tips to get you started.

Many New Zealand businesses temporarily close down at some point during the year, commonly over the Christmas-New Year period. With a bit of preparation and know-how, employers can handle the annual close-down seamlessly and lawfully.

We don’t yet know exactly how the new National-led coalition government will be formed. But we do know that National pledged to make some major changes to tax if it came into power. Here are some of the changes that could affect you.

The change aims to make the tax system fairer – since the top personal tax rate increased to 39% there has been a 50% increase in the amount of money going through trusts. Which trusts will be affected?

We have summarised tax deadlines coming up in April, to prevent you from missing any deadlines and facing a penalty.

The beginning of a new calendar year is an excellent time to review the year just finished and reflect on what worked, what didn’t, what you’d like to change and new things you’d like to implement.

Maybe it’s been an extremely busy month. Maybe you’ve just run out of time. Whatever the reason, if you need to arrange a last-minute festive party for your business, we’ve got the tips you need.

With a global slowdown on the cards, energy prices soaring and supply chain still challenges, cash is likely to be tight over the coming year and beyond. Cloud technology and fintech apps, can give your business the best possible control over its cash.

Remembering the filing and payment deadlines for your business can be challenging. We have summarised these for you to prevent you from missing any deadlines and facing a penalty.

The statement of cash flows, (also known as the cash flow statement), shows how your business has generated and used cash (and cash equivalents) within a specific time period.

Keeping your business operational is a full-time job. It’s a balancing act that requires you to keep a multitude of plates spinning, while your executive team and employees support you at every stage of the operational journey. But what happens if these plates stop spinning?