October Tip Bits

Covid 19 Business Support Wage subsidy no 5 is now available for those businesses that qualify.   The 40% drop in revenue to qualify is your expectations for income over the period 15 Oct – 28 Oct compared to what it would have been without the present lockdown in Auckland. We can help you with the application. This offer is only for businesses with 3 or less employees if you have…  Read more

Resurgence Support and 3 Essential Tools for Business Success

3 Essential Tools for Business Success For us, business success means owners achieving financial, time and mind freedom. Whether you want more money to enjoy your desired lifestyle, more time for your family and friends, or less stress, there are three business tools that can help you achieve freedom. On Wednesday 20th October at 12pm, join us for our complimentary webinar, The 3 Essential Tools for Business Success, where you’ll: Discover the three most…  Read more

GST payment due date extension and Round 4 of Wage Subsidy

Round 4 of Wage Subsidy The Wage Subsidy is open for a fourth round – if you have a drop of 40% or expect to it, there is support of $600 per week per full time employee and $359 per week per part time employee. Available until 14th October. The Resurgence Support Subsidy is also still open until mid-October. This is a one-off application We can help any of you…  Read more

Why is Purpose Important in running a business?

As a business grows, more team members are added and each team member brings their own thoughts about how they believe they should behave and what the business should do for customers.   Having a purpose that is shared and lived by the team means the business is going in one agreed direction.   What you do is not the same as why you do it. A purpose statement if it’s…  Read more

Vision, Purpose and Values webinar and support accessing free business growth

Vision, purpose, and values are the cornerstones of a strong workplace culture. They help to align thinking throughout the business and can provide a solid foundation for growth. At our complimentary webinar, we’ll teach you how to develop your vision, purpose, and values to maximise your results. On Wednesday 29th September at 12pm, join us for our complimentary webinar, Vision, Purpose, and Values, where you’ll: Demystify the three cornerstones of…  Read more

Leveraging Your Technology Webinar and Xero Offers

Leveraging Your Technology Complimentary Webinar Leveraging technology is the easiest way for businesses to streamline their processes, increase their efficiency, and ultimately achieve time, mind, and financial freedom. A systemised business is more sustainable, scalable, and ultimately saleable. It can operate without a heavy reliance on its owners and can grow without the wheels coming off. On Wednesday September 15th at 12pm, join us for our complimentary webinar, Leveraging Your…  Read more

Lockdown leave, pay cuts, reduced hours: what’s allowed?

We’ve been getting quite a few questions from our clients during Level 4 lockdown about the responsibilities of employers. We’re not HR specialists or employment lawyers, so we don’t have all the answers. Luckily, the Ministry for Business Innovation and Employment (MBIE) has been busy setting out all the information you need. Three of the most commonly asked questions are: 1. Can I make employees take annual leave during lockdown?…  Read more

Reclaim Your Time and Wage Subsidy

Reclaim Your Time Webinar We all have the same number of hours in a day, but some people achieve so much more than others. You’ll always be busy, so you need to take steps to reclaim control of the time you have. The business and personal cost of not doing so is too great. Join us for our complimentary webinar, Reclaiming Your Time, where you’ll: Understand why we’ll always be…  Read more

Personal budget and tax to pay

Everyone should have a budget As a business owner, it’s essential you prepare a Personal Budget each year. Instead of being confining, a Personal Budget should be liberating as you can spend guilt-free, knowing other money has been allocated to your expenses. Think of it as a spending plan rather than a budget. By knowing how you’ll spend and save money and setting personal finance goals, you’ll know exactly what…  Read more

Running your business at alert level 4

COVID-19 resurgence support payments Here are the following Covid support payments available: 1. Wage Subsidy – drop of 40%, $600 per week per full time employee and $359 per week per part time employee. 2. Resurgence Support Payment – drop of 30%, being a RSP of $1500 plus $400 per full time equivalent. 3. Leave Support Scheme – for workers who must self-isolate while awaiting a test. $585.50 per full time…  Read more

Covid -19 and Exciting Events at Tax and Trust

Alert Level 4 – again You will be well aware that we have gone into another level 4 lockdown. What does that mean in terms of our service to you? We are still hard at work on your accounts. All appointments will now be held by phone or Zoom – rest assured all Zoom appointments are secure using a password to log in. COVID-19 resurgence support payments In relation to…  Read more

August Tip Bits

Upcoming Events We run events monthly to keep you up to date on important issues and improvements you can make to your business. Find out about our business coaching seminars and don’t miss out on our next FREE webinar. Click here to find out what’s happening this month.   Provisional Tax We have begun sending out Provisional Tax reminders to our clients. If you have received one and think it…  Read more

Upcoming Events

Wage Subsidy and Resurgence Support Applications   The Wage Subsidy is open for another round  to be applied for the next 2 weeks – if you have a drop of 40% or expect to it, there is support of $600 per week per full time employee and $359 per week per part time employee.   The Resurgence Support Subsidy is also still open for another 2-3 weeks. This is a one-off application.   We…  Read more

Brightline Rules and Property Tax Update

Do you know how the new rules on the Brightline test for property investment affects you? Are you wanting a short update with some case studies examples and real life stories to help you understand this new proposed legislation and how much extra tax you may have to pay if you have a residential investment? Join us for our FREE webinar to find out about this and more. We will cover:…  Read more

July Tip Bits

Inflation is coming: should you increase your prices? Inflation is currently running at 1.5%, but experts are forecasting that it’s likely to increase over the next year or two. The rising cost of goods and services has been driven by local labour shortages as well as higher shipping costs and product scarcity worldwide. The result of all these higher prices is that it is becoming more expensive to run your…  Read more

June Tip Bits

Portfolio Investment Entity Income PIE Income now needs to be included in an individuals tax return.    Do you have questions about how this works? See our example below or contact with us with any questions you have. The IR3 should include the following: • Total PIE deductions/PIE tax • Total PIE income/loss • PIE calculation outcome Example: Lets say your PIR is 17.5% and your marginal tax rate is…  Read more

Budget Update

  Working for Families Urgent legislation passed last night increasing working for families – so that low income families (including the self employed) are still better off working and receiving the minimum family tax credit rather than staying on the benefit.    More details here. Free Online Digital Training and Support Tool The Ministry of Business, Innovation and Enterprise, in partnership with The Mind Lab and Indigo, has launched a free…  Read more

May Tip Bits

Do you know your own numbers? Have you measured the impact of the recent business legislation on your figures? Recent legislation (proposed)   – Interest deductiblity – for property investors – New annual statutory holiday – for employers – New sick leave entitlement – for employers   These measures and others yet to be announced will be increasing the cost of being in business for you this year.   Have you…  Read more

February Tip Bits

Message from Michelle for how to spend this next lockdown View the video here at Youtube Short-Term Absence Payment Launched Starting 9 February 2021, the Short-Term Absence Payment has become available for businesses and self-employed individuals to help them pay their employees who can’t work from home while they wait for their COVID-19 test result. The Short-Term Absence Payment is available for businesses, including self-employed people, to help pay their…  Read more

January 2021 Tip Bits

TAX EDITS ANTICIPATED IN 2021 Tax is constantly changing and 2020 was unprecedented in terms of tax edits to usual rules. What can you and I expect in 2021 ? New Tax and new rules: New 39% personal income tax on income above $180000 comes into effect from April 1st Changes to company ownership of greater than 51% may not affect carry forward of tax losses under new continuity rules…  Read more

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