Wet weather Our thoughts are with everyone who has been affected by the recent flooding, its scale was both dramatic and terrifying. At the time of writing, it appears that it may not be over as more rain is forecast. If you or your business has been affected by the flooding, the first priority is […]
Financial Stress during the Festive Season & IRD talking tough
Ahhhh the festive season is upon us again! A time for family, too much eating and drinking and hopefully getting to ‘unplug’ for a few days. But it is also a time for added financial stress – Consumer NZ has found that 2 out of 5 Kiwis feel added financial stress during the holiday season. […]
Preparing for tough economic times
Sick of gloomy economic news? Me too. Inflation, fuel prices, interest rates, currency fluctuations, it all sounds a bit grim. It can be a bit like hearing about a winter storm barreling toward us. But just like a bad weather forecast, this grim news can provide us with some forewarning of choppy economic times ahead. […]
Hard work
Kiwis are well known for our good work ethic. According to the Productivity Commission we work more hours per week than the OECD average. But, alas, our output is lower. Or put another way, it takes us more time to produce the same amount as the average OECD country. Not ideal. In simple terms, poor […]
Want a tax break? Take the bus!
It’s not often that tax news gets so many attention-grabbing headlines. While the proposed – and then quickly scrapped – GST on Kiwisaver fees was hogging the limelight, the introduction of another tax measure has received much less fanfare; the removal of Fringe Benefit Tax on public transport. Read about it here. Why’s this important? […]
August tax payment time and Economic Outlook
August tax payment time If you pay tax provisionally, good news! The 28th of August is just around the corner and this is a payment date for many people and businesses that pay tax provisionally. If you have provisional tax to pay, keep an eye out as we will be sending tax reminder notices out […]
The Dirty ‘R’ Word
There has been plenty of talk about whether or not NZ is headed for recession. BNZ says the risk is increasing but Treasury says we will probably avoid one. Many an armchair economists has waded in, and an assortment of pop-culture indicators are pointed to as evidence that we are or aren’t in for a […]
Cyber Security and 7 May Tax Date
Interesting fact… According to The World Bank, the average net income per capita for the whole world was $9,434.42 (USD) per year in 2019. That translates to $13,585.56 NZD. The world is quite a disparate place. Switzerland had an average net income per capita of $65,600 USD ($94,464 NZD), while Malawi had income per capita […]
Happy new financial year!
Today marks the first day of the 2023 financial year, so happy New Year! With the advent of modern accounting software, the ‘end of the financial year’ isn’t the palaver that it once was and now tends to pass relatively uneventfully. But one of the downsides of this is that some of the beneficial disciplines […]
New financial support available for business and End of Year
New financial support available for business The government has announced further financial support for businesses affected by Covid-19. Covid-19 Support Payment The first is the Covid-19 Support Payment. This is a fortnightly payment of $4,000 + $400 per employee. There are a number of criteria, but the key financial metric is a 40% drop in […]