Articles

Take Note of These Handy Tips to Make Running your Business Easier!

We Answer your FAQs!

Stay Informed on the Tax Rules.

Understand the basics of ACC Levies.

8 Mistakes to Avoid as a Small Business!

The Latest on the Official Cash Rate

The Top Pros & Cons of being a Sole Trader

Understanding the basics of Income Tax.

Understanding the basics of Company Tax.

Understanding the basics of Depreciation.

Reminder that Xero Plans and Prices are changing this month. 

A review from one of our wonderful clients!

Be careful not to subject yourself to these common GST filing pitfalls.

Things to keep in mind when filing your GST this month.

Introducing the lovely winner of our Women's Lifestyle Expo Gift Basket.

The new thresholds have been confirmed. 

The rules have changed. Stay in the know.

Check out HubDoc for record keeping.

New plans and pricing are coming!

Tired of the Paperwork?

Wishing everyone a fantastic long weekend. 

Don't forget to claim your vehicle expenses!

Independent Earner Tax Credit

Stay up to date with the Brightline rule.

The Government Budget for 2024 dropped today. 

Be wary of Accounting Apps!

We're at the expo this weekend!

Discover the proposed changes to the individual tax brackets. 

We announce the winner of our 2024 Women's Lifestyle Expo tickets giveaway!

We celebrate another year achieving 100% filed by the IRD due date. 

Recognising our brave ANZAC troops. 

We announce our presence at the expo this year!

We summarise the changes to the minimum wage April 2024.

Don't forget terminal tax !

Important things to remember this Easter period. 

If you're part of the March Balance Date crew, get on top of your end of year now!

Are you on top of the changes to Trust taxation?

We focus on the upcoming changes to Minimum Wage. 

We dive into navigating this important change to your Business. 

We weigh up the options. 

Check out our latest edition!

There's still time to get your returns filed this year. 

Be sure to remember for your Home Office claim this year!

Facing challenges as a Small Business.

Let's talk about planning for a New Year. 

Learn the Story behind our Firm. 

Seasons Greetings from us at HBT. Keep track of our closure dates this year. 

Update on the Covid Small Business Loans. 

Don't forget these important steps in setting up your new venture!

The IRD have increased their review of GSTs.  

Be sure to stay on track with Xero!

Don't get caught out - top tips!

On top of Holiday Pay this season?

Changes to Trust Tax Rates are on the horizon - stay in the know!

A reminder to reach out to us if you're looking for Accounting Services with a difference!

Mark your Calendars - GST is due this Month!

Refresh on Working Capital.

Stay informed ahead of the elections this year. 

We take a look at the housing market in September 2023. 

Update on the latest rates charged at the IRD. 

  Learn about the funding available for your Business hot water system.

  Times are tough, but putting a focus on your cash flow is key to pushing through. 

Isolation requirements for employees have changed!

Scams are rampant and affecting a wide range of Kiwis this year. 

Keep track of these key dates this August. 

Make things easier come end-of-year. Sort those source docs as you go!

Xero will be increasing its prices starting September 13 2023.  

Worried about IRD Debt? It might be worth looking into an Instalment Arrangement. 

Discount to be lifted on RUCs 

The 2023 Budget has been announced. 

The way BNZ Bank Feeds connect to Xero is changing.

Deductibility of Interest 2023 Tax Year.

  Before you price your product it’s important to understand how sensitive your customers will be to price changes. This means getting an understanding of your market, your competitors and how price elastic it is. 

  Keep up with the tax concessions that are still in force from the pandemic. They may make a difference to your tax bill. 

 Strategic business partnerships are all about finding the common ground. If you share the same customer audience and create a complementary way of meeting their needs, you can significantly expand your target market. 

Don’t be caught out by a tax filing date that isn’t highlighted on your calendar. You could be up for additional costs in interest and penalties. Check out upcoming tax dates and catch up on some of the changes coming through in April. 

 As you work through your end of tax year to-do list, don't forget to review your fixed assets as well as any assets bought or sold during the year. 

Is your 2023 business plan getting the job done? We’ve highlighted 5 important elements that your 2023 strategy needs to focus on.

  As you come to the end of the tax year, consider whether you're in a position to repay the Small Business Cashflow Loan you took out or whether you might need to borrow further to support your cash flow. 

 Ticking items off your end-of-year tax checklist this month? Here are 6 things businesses should know before filing EOY tax. 

 Do you know what your business is spending on marketing? Or what ROI this money is delivering? We’ve got some top tips for controlling your marketing budget. 

The minimum wage is rising as of April 1, to $22.70. Need to review your pricing? Get in touch, we are here to help. 

Getting your financial end of year work done as early and efficiently as possible will give you accurate data to make informed business decisions. 

 What expenses are tax deductible for your small business? Meals with clients, mortgage interest payments, and work uniforms could all be claimable 

 As your startup grows, how do you make sure your employees share your core values? We’ve got some top tips for building a team that can demonstrate your core vision for the business. 

 Review the year that's been and plan for the year ahead 

The new rules on GST invoicing applying from 1 April 2023 may change your practice for GST invoices, including what records you keep. 

 Staying competitive puts your business ahead of the pack. We’ve shared some top advice on how to remain competitive and maintain your leading edge over the competition. 

 Giving is good! Donations not only help the charities that receive them, but they can boost your happiness and provide you with tax credits. 

 2023 is just around the corner. Are you ready for your year-end? We’ll help you tidy up the loose ends and get your business plan ready for the new year. 

An employee gets an alternative holiday for working on a public holiday that is an otherwise working day. Be sure to have your ducks in a row when it comes to Holiday Pay this season. 

Holiday breaks are a time to re-charge for the year ahead. However, for some business owners, holidays can be a stressful time for cash-flow. Have you got the strategies in place to ensure you are in the best financial position this year? 

 ‘Tis the season to have a thousand and one things to think of. Are you planning events? Are you shopping for gifts? 

 Do we need to get used to 6% mortgage interest rates again? And what can you do if you’re coming off a fixed term and facing higher repayments? 

If you receive income from overseas sources, sometimes working out the tax can be tricky. Here are five points to consider. 

When economic times are tough, it helps to be in control of your cashflow. We explain how to improve your cashflow – and how this helps you run your business through tough times. 

 What are the key reports to focus on in your business? We'll show you how to track performance, take action and prepare your company for surviving the new business normal. 

With all the shops open, have Kiwis switched away from online shopping? We look at the latest insights into ecommerce in New Zealand – who’s shopping online and what are they buying? 

There’s a one-off public holiday on Monday to celebrate the life of Queen Elizabeth II – what restrictions apply and what are employees entitled to? 

 The supply chain crisis might create opportunities for your business to fill a supply shortage when your competitors can't. Become the supplier that saves the day. 

 Build-to-rent developers will get a tax break – is this unfair to private landlords? We look at what makes this new asset class quite different from the everyday rental property. 

Many people haven’t yet claimed their Cost of Living payment. Could you or someone in your household be eligible? 

Planning for upcoming tax deadlines in August 

Do you have a return and payment due? GST returns and payment are due on the 28th. 

 If you provide non-cash benefits to your staff, you need to understand fringe benefit rules. 

The Inland Revenue spent 2020 and 2021 being much more relaxed about outstanding tax – but that grace period is coming to an end as they start cracking down. 

Exporting is more complex than selling domestically, but the returns can be worth it. Every business is different and every industry is different. Don't shy away from it but get the right advice. 

Knowing who your competitors are, how they compare, and what their competitive advantages are is vital business intelligence. Do your research, talk to customers, and find your point of difference. 

Have you achieved the goal you set out to achieve as a new startup? We’ve posed 5 important questions for you to ask yourself – before you take the next step in your business journey. 

It’s expensive to invest in a new website, payment platform, project management software or automation. Should you take the plunge? We can help you weigh up the costs and benefits. 

Your customers are vital to your journey. So, what are you doing to nurture them? We suggest some top tips for building your customer relationships 

How much tax do Kiwi employees pay compared to employees in other countries? We take a look at the latest OECD report – and it turns out New Zealand is close to the bottom of the list. 

Some taxpayers are subject to Use of Money Interest (UOMI) when they don’t pay their tax, pay late or underpay.
Make sure you have a broad idea of your likely tax commitments in advance. 

Thinking of attending a trade show? Do your preparation so you maximise the marketing opportunity and get the very best return on your investment. 

With New Zealand experiencing a critical labour shortage, could you employ overseas workers to fill critical shortages at your business? 

With house prices predicted to fall by 15%, what will this mean for you? Is this prediction likely to be accurate, and what will it mean for homeowners?

The new Budget will impact Kiwi Households, Small Businesses and First Home Buyers. We take a quick look at the highlightsand what funding you might be eligible for. 

Contracting, or employing contractors? Contractors working at certain activities or services, or contractors working in certain industries may be able to choose their own tax rate. 

Would your business fall apart without you? What’s your Plan B in case of accident, illness, or just so you can take an occasional holiday? If you were thinking of selling it, what’s your exit strategy? 

Scammers are sending fake Inland Revenue correspondence to con Kiwis. We’ve got tips on what to look for and how to avoid being scammed this tax season. 

As the workforce undergoes digital transformation, what impact do the new ways of working have on your business? 

Household living costs are skyrocketing and seem set to keep rising throughout the year. Here are our 12 top tips for coping with the rapidly increasing cost of living – ways to earn more, spend less, and invest in your future. 

Have you updated your payroll systems and processes for the new minimum wage? 

The CCCFA has been tweaked so the banks don’t need to ask for quite so much information - but this is still a tough time to get your home loan approved. Here are our three top tips for getting that ‘Yes!’ in 2022. 

Should you buy or lease your new equipment? We’ll review your current financial position, cashflow and cost base to decide whether buying or leasing is the right thing for the business. 

Struggling with seasonal dips and poor cashflow? We’ll help you identify the timing of your seasonal downtime, and create a strategy for stabilising your income across the year. 

Ticking items off your end-of-year tax checklist this month?
Make sure you consider the business support and tax relief measures introduced because of COVID-19. 

Changes to the Small Business Cashflow Loans Scheme increase the amount of funding available to eligible businesses through the introduction of a “top-up” loan. We also discuss the updates to other support payments available. 

Ready to start promoting your startup? Here are the key sales and marketing elements to think about as you start your marketing journey. 

Did you just have a great business idea? We’ll help you define the business purpose of your idea – and whether it can deliver a viable and profitable model. 

Getting access to funding is vital for any startup. We’ll help you work out your startup costs so you can find the right capital and kickstart your operations. 

 Getting paid for your work is key to business. So it makes sense to communicate clearly and regularly with customers about how much they owe and when payment is due. Sounds so simple, right? 

We’ve got 5 key ways to improve your procurement processes and cut down on the costs.

Is your business using e-invoicing? It’s a fantastic way to protect yourself and your customers from invoice scams, and it can help you get paid faster. 

Wouldn’t it be great to have your best year ever, this year? Whether you want to grow your business or take more time for yourself, these goal-setting tips can help you achieve your long-term plans. 

With a New Year just around the corner it can be the perfect time to think about the future of your business and how you're going to make your plans a reality. One option we'll explore here, is hiring a Business Coach or Mentor.  

Taking time out over summer? Or getting employees to work through public holidays? A bit of planning will ensure you avoid paperwork mishaps and breaches of the Holidays Act 2003. 

Are you planning Christmas treats for your customers or team? Have a quick catch-up with us on what you can claim as business expenses. 

New Zealand’s rules around dividing property after a separation aren’t always well understood – know where you stand and protect yourself in a new relationship. 

Is your income protection insurance bundled up with other premiums in a personal payment? You might be missing the opportunity to claim it on your tax return. 

BNZ and ASB have introduced debt-to-income (DTI) restrictions – how do they work and how will they impact first-home buyers and investors? 

New trust disclosure rules – financial statements and details of all transactions are now required. Make sure you’re collecting the information you need to keep your trust compliant. 

The Government's new COVID-19 response plan introduces a new framework of measures plus more support for businesses. 

Create a business culture where people are more likely to want to work for you. 

Keeping your data safe can be a big worry for today’s digital businesses. Now’s the ideal time to get your cyber security reviewed, updated and tightened – before there's a breach! 

There’s an extra selling point for new builds, thanks to the Government’s latest announcement of a 20-year tax-deductibility exemption. Could a new build be right for you? 

 Tax pooling can make it easier to manage unpredictable provisional tax payments. It can help smooth out business cashflow in uncertain times. Talk to us about how it works. 

Does being a great place to work improve business performance? Core values and culture can have significant impact on an organisation’s long-term economic performance. Here are four things to think about. 

What should you do in the face of rising interest rates? Restructure, refinance or just hold tight? It’s time to think about your home loan and how to tailor it to suit your situation.

There are many benefits to hiring a young staff member. However are you aware of the rights and responsibilities of yourself as an employer and your new staff member as an employee? 

With Business operations scaled back and meetings off the agenda at present, it could be the perfect time to do some planning,  

There is financial support for businesses at level 4 – find out what you’re eligible for and how to apply.  

Provisional tax is like paying progress payments on next year’s income tax. Some of the rules have changed since Covid 19 to lower compliance costs for small businesses. 

EV feebates will hit utes the hardest – three things you should know if you’re in the market for a new ute for your business. 

This year there have been a number of law changes that may affect your business or investment property 

It’s becoming more expensive to own rentals, so is property still a good investment? 

As a business owner, it is essential that you clearly understand the financial health of your business and can take swift action if needed. 

The Holidays Act is under going some changes, many of which are said to make things easier from 2022. In the mean-time, ensure to keep accurate and up-to-date records. 

Did you, or someone you know, get a tax bill they weren’t expecting? Inland Revenue has released a list of five possible reasons.