What’s your money story?

What you believe about money and how you relate and interact with it affects every aspect of your life and business. A belief is simply a story that you have told yourself so many times that you think it’s the truth. So, for us all to live a vital, vibrant, and thriving life, the story we’re telling ourselves and choosing to believe about money needs to be uncovered, understood, and…  Read more

Achieving your goals with the rocks, pebbles and sand mindset

Have you ever found yourself struggling to achieve your goals because you just don’t have enough time to commit to them? Chances are, you’re doing things back to front. Rocks, Pebbles and Sand is a simple, yet crucial, planning concept depicting that we’ll achieve more if we set our annual goals (or ‘rocks’) first, then our 90-day goals (‘pebbles’) and actions (‘sand’). If we had a jar and first put…  Read more

Want more money, more time or less stress?

We believe our clients all deserve the three freedoms: Financial Freedom; Time Freedom; and Mind Freedom. In other words, more money and time to spend on important things outside of their business, along with less stress. Is your business stifling your freedom? Being in business is tough. At times, you might be worried about whether you’ll have enough cash in the bank to pay your team and suppliers. Perhaps you’re…  Read more

Governance Review

        The importance of good governance is not disputed, what is less clear is how to achieve good governance. In the charity sector the requirement of Trusts to have independent trustees is to lesson the risk of a charity failing to deliver on their strategic purpose.   A governance review can identify areas for improvement to help an organisation meet it’s compliance and reporting requirements while also driving…  Read more

The Achiever Matrix

The Achiever Matrix is made up of four quadrants and helps you prioritise tasks based on their importance; allowing you to manage your time better and achieve more.   Quadrant 1 is The Quadrant of Urgency: This quadrant represents tasks which are both urgent and important. These tasks might be handling an unhappy customer, meeting a deadline, dealing with a crisis, or undertaking urgent re-work. While we must all spend…  Read more

How deep financial data helps you make better business decisions

As a business owner, you want to make the best possible decisions for your business. The choices you make regarding strategy, spending, revenue generation and cashflow management can all have a major impact on the long-term future of the company. So, how do you give yourself that competitive edge when it comes to decision-making? The answer is to make the most of your financial data and to use the outputs…  Read more

Rental property bright-line rule changes

There are three key changes to the bright-line rules which are the rules that tax gains on the sale of residential property. From 1 July 2024, the bright-line period returns to its original form of 2-years. This means, if you sign an agreement on or after 1 July 2024 to sell a residential property, and the sale does not occur within 2 years from when you acquired the property, then…  Read more

GST and the new Airbnb/Uber Tax

If you offer accommodation or ride share services in New Zealand via an electronic marketplace (e.g., Airbnb or Uber), new GST rules apply to you from 1 April 2024. Previously, if your turnover did not exceed the $60,000 GST registration threshold, your services were not subject to GST. Now, however, the electronic marketplace is required to charge GST to the customer on the provision of your services, regardless or the…  Read more

Removal of commercial building depreciation

The depreciation rate for commercial and industrial buildings will revert back to 0% from the 2024-25 income year. Commercial and industrial buildings are buildings with an estimated useful life of 50 years or more, based on their whole-of-life basis rather than end-of-life basis. These buildings will remain ‘depreciable property’ which means historical depreciation deductions remain recoverable when the building is sold. Commercial and industrial building fit-out will remain depreciable, but…  Read more

Your Business Plan

An ever-changing business landscape can present unforeseen challenges for any business at any time. Identifying risks and opportunities in your business model and creating a Business Plan will help you prepare for difficulties or adversities and provide clarity in the event of a crisis in the future. Now is an ideal time to document a clear Business Plan: Defining what you, as business owners, want from the business; this includes…  Read more

DON’T FORGET: Documents for your accountant

Remember to provide all the relevant documents we will need to put together your financial statements for the year. Have you got yours ready? Here is our checklist for information we need – most of which is automatically available for us if you use Xero. Income: Sales Commission received Interest received (if the investment is under the business name) Professional fees Rent received (business) Expenses: ACC Accounting fees Advertising Cellphone…  Read more

Embracing humour in your marketing and brand identity

As a brand, you want to be seen as professional, trustworthy and capable. But there’s also a strong argument for letting down the professional facade occasionally to use a little humour in your marketing, your communications and the company’s brand personality. Are we joking? Making gags in professional marketing? We’re totally sincere about this. In fact, humour is actually what your customers want, according to the latest consumer research. So,…  Read more

Your 12-point checklist to stay ahead on tax

Where has the time all gone to? The end of the financial year is almost on us. How’s it looking for you? Know what you need to do? To help make the information-gathering process hassle-free, we’ve put together an end of tax year checklist. So, to avoid scrambling this time next month – take a breath, take note, and take action. Being prepared is the key to avoiding end-of-year financial…  Read more

Digital snapshot: the Xero app store

2tppwx1fagfgf1iflsdltw Marc Olivier Jodoin Nqoinj Ttqm Unsplash In a tough business environment, the right digital tools can give your business the edge over your rivals and take you to the next level. Innovative apps in nearly every industry have emerged over the past few years to help companies save time and become more resilient. Six reasons to jump onto the Xero App Store Xero customers can access more than 1,000…  Read more

Interest deductibility on property investments is now being phased in with 80% allowable from 1 April 2024

As of 10 March, 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. As a result, legislation is expected to be passed allowing you to deduct 80% of your interest expenses on property investments in the year to 31 March 2025 (ie from 1 April 2024). Note that the previously proposed 60% allowance for the…  Read more

How to move your online business to a bricks and mortar retail space

Running an online business has become a reality for a huge number of business owners in recent years. There are an estimated 12 million-24 million eCommerce sites across the globe and those numbers have risen sharply since the pandemic. But although online shopping may be convenient, there’s still a real desire for physical shops and in-person retail. So, if you’ve been running a successful eCommerce business or online side hustle,…  Read more

What Property Investors Need to Know

At this stage, there are still many unknowns as ministers assess new legislation and review existing policies. One key area to watch is the tax treatment of property investors. It’s been widely discussed that National plans to shorten the bright-line test for property investors to two years from 10 years, returning the law to its 2015 setting from 1 July 2024. New builds will not be exempt from the two-year…  Read more

More policy changes that may affect your business

Here are some of the major changes businesses should watch out for: 1. Reintroduction of 90-day employment trial periods The government has extended the availability of 90-day employment trial periods for all businesses, reversing changes made in 2018, which scrapped 90-day trials for businesses with more than 20 employees. 2. Clean car discount and ‘ute tax’ to end The clean car discount, allowing people to claim back up to $8,625…  Read more

What’s the difference between financial accounting and management accounting?

You’re running a business, so you know the legal requirements around producing accounts and submitting tax returns. But do you truly know WHY you’ve engaged an accountant? And do you understand the value that a good accountant and business adviser can add to your company?   As a business owner, managing director or CEO, there are three main areas of the accounting proposition that you’re probably most interested in: –…  Read more

GST and your Business

Goods and services tax (GST) is a tax on most goods and services in New Zealand, at a rate of 15%. As a business owner, you’re likely familiar with how this works. Your customers pay it when buying your goods and services and you collect GST on behalf of the government. Your business is a ‘taxable activity’. The goods and services you supply to consumers are taxable and the government…  Read more

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