On 22 May 2025 the Coalition Government released its second budget, dubbed the fiscally conservative “no BS budget”. Below are the key takeaways: Investment boost A new tax incentive which allows businesses acquiring productive assets to immediately deduct 20% of the cost of a depreciable asset in the year of acquisition, in addition to normal depreciation. This means businesses will face a lower tax bill in the year of… Read more
Business confidence is a key economic indicator, and right now in New Zealand, the latest data paint a mixed picture: Signs of recovery – After a slow period, economic activity has started to pick up with early signs of renewed business momentum. Cautious optimism – Business confidence is improving, but caution lingers as companies navigate costs, demand, and future economic uncertainty. Global uncertainty – While domestic trends are improving, global trade tensions and… Read more
A new tax year is a chance to strengthen your financial foundation and optimise cash flow. Smart planning now can set your business up for long-term success. 1. Get Tax-Ready Assess your tax situation. Check for upcoming tax liabilities and savings — review deductible expenses, tax bills, and opportunities to defer or prepay costs. Keep your records in order. Well-organised invoices, expenses, and payroll records prevent last-minute headaches. If your… Read more
Is your team a cohesive unit? Enthusiastic, efficient, trained to deliver the best outcomes for your business and your customers? The cost of getting recruitment wrong may not be immediately apparent. It’s more likely to show as a slow burn for the business: High turnover burns up resources for advertising and the time taken for recruitment, induction and training. Dealing with unreliable employees is challenging. If not handled well it… Read more
To ensure you and your business are in the best possible tax health by 31 March, check out our guide for year-end tax planning strategies and compliance matters Now’s the time to get organised for year end. Acting early saves time, reduces stress, and ensures your business is set up for success in 2025. If you’d like a checklist, ask us where to start. If you would like to discuss… Read more
What’s the main thing that holds you and your business back? Chances are it’s the unavoidable manual tasks and low-level administrative responsibilities that eat into your time. But in 2025, these are tasks that artificial intelligence (AI) is more than capable of taking on. With a growing number of AI agents and assistants out there in the market, the smart business owners are the ones investing in, and learning, the… Read more
Artificial intelligence (AI) has been a catalyst for a huge amount of change in the small business arena. AI apps, tools and solutions are everywhere, offering increasingly sophisticated ways to automate your processes and add value for your customers. On average, over a third (38%) of small businesses in Australia, New Zealand and the UK have used, or are considering using, AI according to new research from the global hiring platform… Read more
The beginning of a new financial year is an excellent time to review last year and reflect on what worked, what didn’t, what you’d like to change and new things you want to implement. Take the time to review the year and acknowledge all that has happened, good, bad or indifferent. Examining the year with an objective perspective can provide valuable insights to prepare for the coming business year. Planning… Read more
Your business’ Terms of Trade tell your customers the conditions of doing business with you. They detail goods and/or services to be provided, how long quotes are valid for, price, and when payment is due. For any business where payment is not immediate cash across the counter, clear terms of trade can help minimise and prevent bad debts. Make sure your terms of trade are geared to your business: whether… Read more
Implementing new software can feel like stepping into a world of opportunity. Done well, it can make your business run smoother, faster, and better. But without the right approach, it can also lead to headaches, wasted money, and frustrated teams. Let’s explore some common software implementation mistakes and how to avoid them—with some simple examples to help make it clear. At Tax and Trust we’re passionate about embracing innovative software… Read more
Keeping on top of your finances is a critical part of keeping your business on track. But are you doing everything you can to optimise your financial management? In this series, we’ll look at some key ways to optimise your business, exploring different avenues to evolve your enterprise and create a legacy you can be proud of. Let’s see how you can better control over your financial numbers. Having the… Read more
Your IT systems and software are the backbone of your business. With so many parts of your operations now in the digital domain, it’s vital to protect your cybersecurity. Malicious hackers will always be looking for an opportunity to access your systems or steal your sensitive customer information. So, it’s vital to do everything you can to boost your security. New cybersecurity resources from the NZ government Small businesses are… Read more
What are the key performance indicators (KPIs) for your business? Your KPIs relate closely to your goals. To track performance against your business goals, you need to be able to measure them. KPIs need to mean something to you and your team. What about the conversion rate from quotes to sales? The average sale to new customers? The number of stock outages or complaint rate? Many businesses will monitor liquidity… Read more
Your people are one of the most critical elements in your business. But are you doing everything possible to provide a caring, supportive workplace that also drives the success of your business? In this series, we’ll look at some key ways to optimise your business, exploring different avenues to evolve your enterprise and create a legacy you can be proud of. Let’s look at ways to improve your employee experience… Read more
Tech-savvy businesses are taking big strides in making software, AI and automation work for their enterprise. Going digital could be one of the smartest moves you make. In this series, we’ll look at some key ways to optimise your business, exploring different avenues to evolve your enterprise and create a legacy you can be proud of. Let’s explore how embracing the latest software tools helps you optimise your business. Going… Read more
Our success in life depends largely on our mindset. Those who wait until conditions are perfect are unlikely to achieve their goals as they’re always waiting for the right time and never take that first step. There are three small words whose order can heavily influence the outcomes we achieve: be, do, and have. After deciding on your goals, the next step is to consider who you need to… Read more
Productivity is a term associated with strong economies, robust businesses and the efficiency gains of clever staff. If only businesses were efficient, then we would have fewer of them failing, more employment and better incomes for owners and workers alike. In New Zealand, according to The Xero Small Business Insights Special Report, Small Business Productivity: Industry and Regional Trends 2023, Kiwi business productivity fell by 6.1% in 2023. Unfortunately, not… Read more
The holiday season is a great time to highlight the year’s achievements. But with every Christmas party comes great responsibility for employers. Four top tips for ensuring a Christmas party is remembered for all the right reasons: Remind staff about drink-driving laws. Ensure that staff have a transport plan travelling to and from Christmas work events. Reiterate the rules about alcohol and company vehicles. Staff are under your watch. As an employer,… Read more
A Bank reconciliation involves a comparison of your sales and expense records against the record your bank has. It is a critical financial process to identify and rectify any discrepancies or errors between your internal financial records with the transactions recorded in your bank statement. Bank reconciliations keep your bookkeeping accurate and can help lower your tax, alert you to fraud, and allow you to track costs. They are essential… Read more
When you started in business, what did you imagine your lifestyle would be? How does your current lifestyle compare? Many business owners assume that after a few years in business they should be able to achieve another financial milestone such as buying a house, upgrading the car or taking the family on an epic holiday. Reality may be different. Is financial stress common in your business? You invested a significant… Read more