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.
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!
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.
Please click below to download your checklists:
Happy new tax year!
And you know what that means, don’t you? Time to get your books sorted and into us. Thanks to technology, the days of sending us paper are well and truly gone. And what a relief that is because one of the worst jobs of my career was having the most enormous box of paper bank statements dumped on me. It wasn’t the size that frightened me but the smell. It absolutely reeked. I spent the next week locked in my cubicle trying not to breathe in the toxic stench, while the other accountants treated me like I was contagious.
This was twenty-something years ago, in one of the big old prestigious firms and junior accountants were barely permitted to speak, let alone complain. There were more than sixty accountants crammed into my section of the office and I swear every single one of them passed by my desk (keeping a safe distance, mind you) giving their unwanted opinion on the origins of the aroma. To this day it remains a mystery but I suspect a pet (now potty-trained) is out there somewhere laughing at me still.
And on that note, we look forward to receiving your ‘smell-free’ records soon.
You’ll find a checklist, of everything you need to send, by clicking here.
Picture credit with thanks to Interior Design Magazine
If you like things to look nice, this one’s for you. It’s about adding your business logo to emails when you send them directly from your Xero accounting software. I don’t know about you but I was starting to get little jabs of jealously every time a business emailed me their invoice with their logo right there in the email itself (not just on the invoice). Being a busy business owner, I’d devoted all of two seconds to ‘making this happen’ before giving up in a huff but with a clearer head this morning I found a few options and this one’s the easiest: Continue reading How to add your logo to Xero emails
Yes, it’s true. The IRD has started giving away free all inclusive holidays with your room, meals, beverages and even some sports activities included. To be eligible, you’ll need to stop filing tax returns and start specialising in cash-jobs. The most recent “winners” were in the building sector but that doesn’t mean they won’t open this up to your industry too.
Continue reading IRD giving away holidays
Buying and selling residential property soon? You need to know about the upcoming changes because, with careful planning, you may still have a chance to take advantage of the old rules.
Continue reading Changes to property tax
Is the new tax option right for you? Probably not! Yes, I’m serious. This new pay-as-you-earn option of paying your provisional tax almost got it right, but not quite. The concept is good but it’s really not a whole lot different to the ‘Ratio’ method which crashed and burned a few years ago!
Continue reading Is the new tax option right for you?
Being an exacting accountant, with all those horribly strong type-A personality traits, it almost hurts me to say this but one of the biggest mistakes I made when starting out was not realising that business isn’t about doing a great job or working incredibly hard. Yes, those things are really important but not the most important.
What I’ve come to realise is that business is more about the stuff in between; the keeping everyone happy stuff! From explaining to customers why you’re worth it to tactfully dealing with incompetent staff and suppliers (because let’s face it, the good ones take care of themselves, don’t they). Communication skills and relationship building are huge. It’s almost as if you have to become a professional Happy-Maker!
Continue reading Rookie business mistakes