Business Management

Earthquake Tax Relief Time Limits Running Out

March 1, 2018
Many building owners in Canterbury may have taken the opportunity to defer tax adjustments that result from earthquake tax concessions. This would have occurred when earthquake insurance proceeds were paid for the full value of a building, as the receipt of insurance proceeds would have been deemed to have been an asset sale. After an asset sale occurs a tax adjustment called “depreciation recovered” is often made, which increases income in the year of sale. Shortly after the Canterbury Earthquakes the...

Our Clients: Mainland Football Club

February 22, 2018
Mainland Football is the second largest Football Federation in New Zealand, boasting 51 member clubs and more than 21,000 registered players in Football and Futsal. While the game has come along leaps and bounds in recent years, the challenge is to keep it growing in a world in which people view community sports very differently to how they used to. Chief Executive Julian Bowden talked to NEXT about the challenges facing community football in NZ. In a market like New Zealand,...

Estate planning: Getting the basis right

February 22, 2018
It is an unfortunate fact that although most people understand the fundamental importance of estate planning, it is an area of financial management that is often neglected. Why? Is it because people don’t like talking about death? Are they a bit confronted by their own mortality? Do they not want to tempt fate? Or is it all “just too hard”? Whatever the reason, it is vitally important for everyone get the basics done right. Will Unless you want strangers involved in...

Tax tips, traps and troubles

February 21, 2018
Get organised for annual accounts. The 31st of March is rapidly approaching. Now is a good time to think about getting organised for your annual accounts to minimise hassles. The following comments are based on a 31 March balance date. If yours is different, please adjust accordingly. If you have bad debts, write them off before you get to 31 March or you'll have to include the amount owing to you in your sales for the year. If you have...

Strategic Planning for your Business

February 21, 2018
Some businesses have an uncanny ability to muddle their way to success. Most don’t. When was the last time you reflected with purpose on where you want your business to go? Don’t leave success to chance. A good Business Plan is a roadmap to success. It defines the destination and helps you get there. Developing one needn’t be a chore. Adopt the right mindset Schedule time; you will feel energized rather than squeezing this important task around everything else. It is...

Meet Our Talent

November 21, 2017
Andrew Kidd, Associate. Andrew has 8 years’ experience at Nexia Chartered Accountants, working with a variety of clients across multiple industries which include Medical Practitioners & Property Investors. His diverse client base allows him to apply his knowledge across varying client scenarios. He particularly enjoys working with clients to assist them in fully understanding not only their tax obligations, but also what the numbers mean.

NZ Trust Law to be Overhauled

November 13, 2017
Parliamentary plastic surgery is in store for the Trustee Act, to make trust law easier to access and understand. On 1 August, Justice Minister Amy Adams introduced the Trusts Bill to Parliament. This will be the first significant change since the introduction of the Trustee Act 1956. Although we have had a change of government, we do expect that this will still go through in current format and at this stage a date is yet to be set. The old Act...

Business Culture tied to Business Performance

November 10, 2017
While it’s easy to think of business culture as a bit soft compared with, say, achieving sales, in fact it’s anything but. A 2014 study reported that public companies named in a “Best Places to Work” list in 2009 outperformed the S&P 500 by 115 percent in the following five years. The Glassdoor study suggests that a culture that engages and motivates employees helps the bottom line. But the reverse isn’t true: A company’s success isn’t enough to produce a positive...

Inland Revenue Update

November 10, 2017
We have written recently to Inland Revenue (IRD), raising the issue of a number of occasions whereby IRD staff have contacted clients directly instead of contacting us as your agents in the first instance. We are reminded of a communication protocol issued six years ago that remains in place to this day. Please note some responses from IRD in italics. “In summary, specifically around debt and returns, the agent (that’s us) will receive a letter advising of the outstanding debt or...

Protecting your Business from Cybercrime

November 10, 2017
The internet has become the essential infrastructure for most businesses around the globe. But with increased connectivity comes unprecedented risk of fraud, theft and abuse. The digitised world is growing at a phenomenal pace, transforming the economic, political and social landscape around the world. The falling costs of technology have fuelled rapid digitisation of developing economies in Africa and other regions, bringing huge benefits to disadvantaged people, including to those without bank accounts or access to electricity. However, businesses and government...
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