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 of $363 USD ($522.72 NZD) per year. Some believe that the World Bank estimates are on the low side, and they put the per capita income of Malawi at more like $500 (USD). Again, that’s per year…
So, aside from highlighting that a) despite it’s many shortcomings, NZ is a rather good place to live and b) many parts of the world are devastatingly poor, why do we point this out? Because of cyber security. You see, when we raise the importance of cyber security, one of the common excuses we hear is “we’re only small/I don’t earn very much money, no one is going to bother targeting me”. To which we respond: “poppycock, compared to the majority of people in the world you/your business is incredibly wealthy.”
Think of it this way, if you come from a country where the average income is less than $1,000 per year, how good would the contents of a bank account with a few thousand sitting in it look? Small businesses and individuals look like soft targets in comparison to big business, and because of this, are being increasingly targeted. This is a great example of someone getting fleeced.
If your approach to cyber security is less advanced than it should be, a great place to start is CERT, they have resources for businesses and individuals.
Big Tax Day
The 7th of May is a big day for tax. Many business/people who are registered for GST and/or are provisional taxpayers have tax to pay on this date. We sent tax notices out a few weeks back and have been sending GST returns out over the last month. As the 7th falls on a Saturday, payments received by the end of the 9th of May will be treated as being received on time.