Covid care package

You might’ve noticed we always try and add a little light-heartedness and hopefully a smile to our mailers but right now that doesn’t seem appropriate.  We know many of you are dreading the upcoming tax bills (due 7-Apr-20 and 7-May-20) so we wanted to give you a care-package of sorts, which summarises all your options in one place. Hopefully, you’ll find an option below which works for you (click page 2 below).

2020 Checklist

What a way to end the financial year!  It feels more like the 89th of March, rather than the 31st.  We’re sorry if you haven’t heard from us already but we’ve been overwhelmed with some clients struggling to keep up with booming sales while others are facing the very real pain of not surviving this.  If isolation boredom has kicked in, you might actually be “looking forward to” getting your end-of-year tax records sorted and, if that’s the case, you’ll find a list of what to send us below.  Another boredom buster you should be doing today is writing off your bad debts and doing your stocktake.  If your inventory software isn’t reliable then a physical stocktake should be your first priority when lockdown ends.

Take care & stick together but obviously at a distance!  ❤  [Checklist on Page 2]

Funner tax reminders

Okay, so you probably realise by now “funner” isn’t a word often used by Chartered Accountants (or anyone really) and that the IRD forces us to send you those dreadfully formal tax reminders before each tax bill.  Thankfully, once those are out of the way, we’re free to revert to our usual friendly style which is why today’s tax reminder includes a quick comedy video about tax phobia.  Hopefully, it gives you a little chuckle to take the sting out paying your tax today.

Ouch it’s tax day

You’ve got to hand it to the tax department … welcoming you back to work by taking a nasty bite out of your bank account.  And they’ll be back for even more if you don’t pay on time so please don’t forget to pay your IRD bills today.




















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Boutique Financial Chartered Accountants & Business Commentators

Copyright © 2019 Boutique Financial Limited Chartered Accountants Auckland All Rights Reserved. This publication must be read in accordance with the attached disclaimer and does not provide an exhaustive statement of tax law.


Making tax reminders less scary

If there’s one thing in business that really takes a painful chunk out of your bank account, it’s tax.  Yes, it hurts but I can assure you not paying hurts even more. Choose your ‘hurt’ wisely and don’t forget to pay today!

Xero prices and plans

Bad news folks!  I guess Xero needs to pay for that flashy new building because we’ve just received word that both standard and premium plans will increase in price by $5 per month, from 28 September 2018.  Standard subscriptions will go up to $60 a month, while premium pricing increases to $75 a month (excluding GST). This pricing includes one active Xero Expenses user with subscribers paying an additional $5 per additional active user. To help keep your price down, we’d discourage you from using Expense claims.




Remember, many of you are still eligible for our 30% discount on Business Edition plans.  This requires us to act as the subscriber with you maintaining your own billing account, only available if payment is on direct debit or credit card, and is subject to a positive credit history with us.  Alternatively, rather than having the Partner act as Subscriber to the subscription, you may act as the Subscriber for Xero Business Edition subscriptions and invite the Partner into that subscription as an invited user (although our discount will not be available to you in this scenario).  The Subscriber to the subscription has the ability to control access rights and may be required to retain ownership of the file for insurance purposes.


Angry accountants making headlines

It’s not often angry accountants are newsworthy but they’re certainly het up and hitting the headlines this week!  Why do they care so much, you say?  Well most accountants work on hourly rates and aim to keep their fees to the absolute minimum so spending forever fighting the IRD computer is the last thing they want their lovely clients paying for.  It’s all a bit of a ‘hoot’ really unless you’re the one footing the bill.

Airbnb giving IRD your details?

There’s an old Frank Sinatra song that says “if you can make it here, you can make it anywhere”.   As a Chartered Accountant, I like to change this up a bit and turn it into “if they do it there, they can do it here”.  Something they’re currently doing over there (Denmark, in this case) and which I strongly suspect will soon start happening here, is Airbnb giving the IRD full details of your Airbnb earnings. 

The platforms are already in place here and the banks have been doing it for ‘yonks’.  Banks readily give the IRD full details of your interest and RWT deductions without you even knowing it.  Typically the information sharing goes the other way with the IRD having the ability to give your details to some government agencies including Statistics New Zealand.  On top of this, there’s been an incredible amount of activity in the area of overseas reporting obligations lately which is basically a way of sharing your information between countries.  America is particularly hot on this right now with the Common Reporting Standard coming into effect and although this may seem like something that couldn’t possibly effect you, you may well get caught if you’re an unsuspecting beneficiary of a family trust (even a discretionary one).

Thankfully, the IRD gives relatively clear direction on how to return your Airbnb income so it shouldn’t hurt too much unless you’ve somehow fallen into something incredibly complex like the GST regime or if you need to ‘fess up’ to the IRD through the Voluntary Disclosure process.

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Boutique Financial Chartered Accountants & Business Commentators

Copyright © 2018 Boutique Financial Limited Chartered Accountants Auckland All Rights Reserved. This publication must be read in accordance with the attached disclaimer and does not provide an exhaustive statement of tax law.