The end of fringe benefit tax on company cars?

Yes, it’s true.  Sort of, kind of anyway!  Some of you are now eligible to have a company car without the sting of paying Fringe benefit tax (FBT) on it.  Nothing’s quite that simple though especially when it comes to the intricacies of tax legislation and there are, of course, a whole string of eligibility requirements.  We’ll cover a few of them below but this type of thing is complex and riddled with fish hooks so it’s well worth having your Chartered Accountant review your situation properly before you do anything rash.

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How to download RWT tax certificates for your accountant

Rosauro Pradilla Bayog riley table sam mcmorran naughtoneGot a grouchy Auckland Accountant chasing you for tax certificates?  Not quite sure what your accountant actually wants?  Normally the bank sends you a paper copy but if you’ve misplaced yours don’t worry.  You can normally download your Interest Withholding Certificate easily from internet banking.  Simply follow these super easy steps if you’re an ANZ customer (and those other banks should have a pretty similar system).

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IRD audits on the rise

18917885_sYou’d be hard pressed finding someone who enjoys an IRD audit but with the risks some people take you’ve got to wonder! One of the riskiest things we see, is business people thinking they (or someone they love) has the knowledge, skill and experience needed to calculate their GST Returns correctly. Very rarely do we find someone getting it right and some accountants are even taking early retirement because the tax laws are now too complex, even for them.  Continue reading IRD audits on the rise

New way to file GST Returns with the IRD

BoConcept NZ Sticks wall clockOnce upon a time it was easy to file your GST return online but things are a-changin.  The IRD is set to add a little more aggravation to business owners lives by hiding the online GST return form that we’ve all come to love.  Instead there’s a new (and I’d like to say improved) system.  This kicks off on 10 September 2013 so it’s worth getting ready now … unless you actually want to endure several painful hours on IRD’s phonelines the night your return is due.  Continue reading New way to file GST Returns with the IRD

Seven second business plan

17755125_sBusiness plan. Business model.  All sound a bit complex?  Tried asking your good friend Google for help but it was still too overwhelming?  The trick is keeping it simple because, as we all know, failing to plan is planning to fail.  It’s usually easier to start by deciding what you don’t want to do and then your business plan will become clear.  What you don’t want to do is have no plan at all and follow one of these deadly paths which, in our experience, are common occurances within Aucklands business community:

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