Tax reminder

One of our clients recently admitted to letting out a panicked scream when they open our tax reminders. As amusing as that may be, it’s not our intention to scare you. We just want to keep you safe so if being disembowelled by the IRD doesn’t sound like something you’d be into, it’s best you pay 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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

______________________________    www.boutiquefinancial.com   _______________________________

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.

 

IRD giving away holidays

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

How to get tax back on clothes

One of the best things about being an accountant (yes there are some) is the ability to get up close and personal with some of the best businesses on the planet.  What’s not so great is being a messenger for the IRD.  Early in my career, I had an incredibly uncomfortable meeting with an elderly gent who just wouldn’t believe it was illegal to claim his glasses and hearing aid, even though he needed them to do his job.  It was quite the battle, I can tell you, so instead of boring him with legislation I told him about the court case where a personal trainer was sentenced, to home detention, for claiming running shoes and that even plain clothes police were taxed on their clothing allowance.

Now, I’m not saying it’s fair. Personally, I’m on your side but is there a way around these laws?  The answer is advertising.   I don’t know how you feel about having your business branding plastered all over your designer jeans but it’s one way to make them tax deductible.  Without advertising, most clothes fail under the scrutiny of a ‘brown-trousered’ tax investigator (unless they’re uniforms or health and safety wear).  We’d hate you to get caught out so why not quizz yourself to see if you can pick what’s deductible below?

“Life, as a business owner, isn’t perfect but your outfit can be”

______________________________    www.boutiquefinancial.com   _______________________________

Boutique Financial Chartered Accountants & Business Commentators

Copyright © 2017 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.

Odd but true tax claims

We almost didn’t release this article because of the effect it’ll have on Gareth Morgan’s blood pressure when he finds out that fostering a cat is tax deductible in some countries.  Similarly, it’s probably best, for Auckland roads, if Len Brown remains unaware that biking to work is a legitimate tax claim in parts of Europe.  Why all this talk of international tax law when New Zealands legislation is complex enough?  Simply because it’s a slightly more interesting way of introducing todays topic which is your tax return. Yes, it’s time to email us your 2016 tax records.

What to send?
You’ll find our checklist (showing exactly what to send) on our website:  CLICK HERE.

When?
The sooner the better, and smarter too.

Why?
Because of the statutory time bar.  Never heard of it?  Essentially section 108, of the Tax Administration Act, gives the IRD four years to audit you. The four years doesn’t start ticking until your tax return is assessed so filing late (even by one day) means you’ll have to wait an entire extra year before you’re safe.

Odd tax claims accountants auckland

newspaper article

_______________________________   www.boutiquefinancial.co.nz   _______________________________

Boutique Financial Chartered Accountants & Business Commentators

Copyright © 2016 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.

What’s the smartest question in business

vectorstock_1055262 bra xsmlI’m no mentalist, that’s for sure, but there’s one question that every so often someone, new to business, asks which fills me with hope. Why? Because that one question is generally a reliable sign they’re going to do well in business. So what is that question?

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Continue reading What’s the smartest question in business

Will you be wealthy?

mon man no catThis month we’re discussing wealth because locally there’s a lot of talk about a pensioner who just inherited numerous properties in a very prestigious street.  With no desire to be a geriatric landlord, the properties went on the market only to find they can’t be sold until the will-makers cat dies!

Apart from dreaming about cat-free-inheritances and lottery wins, how much mental time do YOU actually invest in planning your wealth?  If you don’t give it a lot of thought, then I’m sure you have some brilliant excuses  Continue reading Will you be wealthy?

How to save accounting costs

LuxDeco z-prince-comic-armchair_2As a chartered accountant I’m often asked how to save on accounting costs and these are my top ten suggestions:

 
1. Use Xero and ensure your bookkeeping is done well. For example:

  • Finalise GST returns when you file them with the IRD
  • Reconcile bank accounts by checking they match online banking
  • Lock periods after every GST return

Continue reading How to save accounting costs

Nosey neighbour newsletter

28639284_s (2)Recently we stumbled upon Remuera’s nosey neighbour website and realised that it’s not just house prices people get curious about.  As chartered accountants, we’re constantly asked what people are earning and given our strict confidentiality we’ve mastered the art of answering without answering …. but today we’re giving you some specifics.

Continue reading Nosey neighbour newsletter

Death by flexi mortgage

13544486_s (2)Flexi loans – they’re a dangerous thing. Banks can’t wait to give them to you all wrapped up in glossy paperwork and touted as the best thing ever. And yes, they are the best thing; the best thing for the bank, not you … unless you’re one of the chosen few with inordinate amounts of willpower and discipline (a financially savvy superstar).

Continue reading Death by flexi mortgage