Latest News

Banks introduce New Mortgage Lending Restrictions Nov 14, 2021

In June this year, the Reserve Bank received approval for a new tool to rein in house prices and control debt levels: debt-to-income (DTI) ratios.

Now, some of the banks have decided to move first. BNZ has introduced a DTI for all its borrowers, and ASB has confirmed that it, too, is now applying...

Continue Reading...
Contractor vs Employee Nov 11, 2021

Getting it wrong could be costly!

Is that team member an employee or a contractor? It’s important to know the difference, because getting it wrong could be an expensive mistake.

The Employment Court has recently issued three warnings to employers who have tried to label their employees...

Continue Reading...
Getting a Tax Break on your Insurance Nov 07, 2021

One of the advantages of owning a business is the many tax deductions that aren’t available to employees.

Most of these deductibles are well known, like vehicle and home office costs and other basic business expenses.

But recently we’ve been able to help out our clients with one...

Continue Reading...
Does your business have a disaster recovery plan? Sep 25, 2021

With extreme weather events on the rise and climate change becoming an increasing threat, it’s never been more important for your business to have a disaster recovery plan in place.

Weather is becoming more severe, more unpredictable and more destructive over time. With shops and offices in...

Continue Reading...
Can companies claim home office expenses? Sep 22, 2021

Sole traders using home offices for business have long been able to claim deductions for home office expenses.

Now, through lockdowns and increased accommodations for work-life balance, many businesses have employees working full or part-time from home. This raises questions about whether...

Continue Reading...
Could a 4-day week be a good fit for your team? Sep 20, 2021

The pandemic has acted as an impetus for reflection, with many workers and business people reassessing the hours they work and the priority that work has in their lives.

A survey from Slack showed that 72% of respondents would prefer a hybrid approach to work – i.e. a mix of remote and...

Continue Reading...
How are cryptocurrencies taxed in New Zealand? Sep 13, 2021

Around one in five Kiwis is either invested in cryptocurrency or plans to invest, according to a survey by the Financial Services Council.

With so many of us jumping into cryptoassets, it’s helpful to understand what our tax obligations are.

Last year Inland Revenue updated its guidance on...

Continue Reading...
Worried about your Provisional Tax Payment? Aug 26, 2021

A reminder about Provisional Tax due 28 August for many clients.

We understand that New Zealand’s move to Alert Level 4 may have put some additional pressure on your cashflow and you may be worried about how you are going to meet this payment obligation.

Here are some payment options...

Continue Reading...
Wage Subsidy Scheme (WSS) Aug 26, 2021

The Wage Subsidy Schemes (WSS) ensure employers can keep paying their employees, and workers continue to receive income, and stay connected to their employer, even if unable to work their normal hours.

Eligible employers and self-employed anywhere in New Zealand may apply for the WSS if they...

Continue Reading...
Eligibility for the Resurgence Support Payment Aug 25, 2021

As we cope with another lockdown in New Zealand, the Government are updating support measures for businesses and workers.

The Resurgence Support Payment assists small businesses to cover expenses such as wages and fixed costs, when there is a move to Alert Level 2 or higher for a week or more.

...

Continue Reading...
What are the rules for NZ businesses at different Alert Levels? Aug 25, 2021

Although we have been here before, it can be hard to remember the rules on operating businesses at the different alert levels.

The Ministry of Business, Innovation and Employment’s website has a useful guidance table for businesses at Alert levels 2, 3 and 4. Familiarise yourself with the...

Continue Reading...
Back in Lockdown: Covid Support for Businesses Aug 22, 2021

We hope you are safe as New Zealanders deal with this latest community outbreak and lockdown measures. We know many of you will be losing income over this time and the ongoing uncertainty only adds to the stress.

We’re writing to let you know about the financial assistance that might be...

Continue Reading...