Accounting and Tax

New GST Rules for Offshore Suppliers

The number of non-resident businesses selling products and services via the internet is increasing. Recently introduced legislation seeks to preserve a sense of fair play for Kiwi retailers. Kiwi retailers have suffered because many New Zealanders have bought goods and services from offshore suppliers free of GST. The “GST Offshore Supplier Registration and Remedial Matters” […]
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Understanding Small Business Accounting

Accounting doesn’t have to be a chore

Chances are that you’ll not perform cart-wheels if I mention the words virtual accountant or accounting! Unless you enjoy working with numbers or you’re either a bookkeeper, accountant or virtual accountant, you’ll probably turn your nose up at the very sound of the word. That’s okay.  You’re not alone.  A high percentage of small-business owners […]
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Business partners

Considering Bringing On A New Business Partner?

There are myriad reasons why you might want to introduce a new business partner.  Among these reasons are: You may be planning to retire; They’d provide additional funds to expand the business; They may bring skills and experience that you don’t have; You want to share the workload. It’s a big step, particularly if you […]
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Accounting

9 Questions to Ask A Small Business Accountant

This article will discuss the difference between bookkeepers, chartered accountants and small business accountants and how to recognise when you need one. It will also suggest nine questions you should ask them when you’re interviewing them. Do you want to run your business properly but small business accounting scares the living daylights out of you? […]
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Tax Implications on Short-Term Accommodation Rentals

The rapid increase in internet holiday bookings using sites like Book-a-Bach and Airbnb, offers fast and viable opportunities to make some additional cash. Renting out your spare room or holiday bach has never been easier. These websites have significantly changed the accommodation. Much of the pain and time-consuming administration associated with advertising properties, screening potential […]
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The Importance of Properly Recording Director’s Drawings

If you’re a company director, you may be tempted to use the company’s funds to pay your own personal expenses.  For example, you might be tempted to withdraw money to pay for your new boat, holiday, pay your mortgage or simply pay yourself a regular “salary”. These type of transactions are typically called “drawings” but […]
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