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Don’t forget tax pooling as IRD targets residential property 1200 630 Lee Stace
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Don’t forget tax pooling as IRD targets residential property

Tax pooling can reduce the interest cost by up to 30 percent and eliminate late payment penalties if someone owes additional tax for failing to declare property transactions captured under the bright-line test. An approved provider of the service such as Tax Management NZ (TMNZ) can help with income tax that arises from residential property…

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Are these two common business traditions losing you money? 1200 630 Colin Kennedy
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Are these two common business traditions losing you money?

The practice of throwing coins into a fountain – to invoke the favour of the gods – is so widespread that in some places they have notices asking the public not to toss coins into the fountain because it’s terrible for the fish. There are some modern business practices that amount to the same thing.…

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Back to the office? Not as you know it 1200 630 Colin Kennedy
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Back to the office? Not as you know it

Fresh out of lockdown in 2020, a lot of New Zealand companies were talking ‘working from home as the new normal’, but it hasn’t exactly worked out that way, and a remote workforce is looking increasingly unlikely – or is it? In July 2020 there were reports that the Auckland CBD economy would collapse due…

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Is FOMO hurting your advisory business? 1200 630 Colin Kennedy
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Is FOMO hurting your advisory business?

Remember, when you were a kid, and you would gather with other kids for sport or play, and a couple of nominated children in the group would get to choose their teams? Do you recall the feeling of dread you had that you would get picked last or even not at all? That same insecurity…

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Solve your cashflow headache and get paid on your terms 1200 630 Colin Kennedy
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Solve your cashflow headache and get paid on your terms

When you leave your local Mitre10 store with your new BBQ in tow, do you tell the cashier to invoice you on the 20th of the month? Have you tried that with New World, or PB Tech lately? It begs the question: Why should your businesses be any different? The ‘practice’ of paying invoices on…

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Payment options for 15 January provisional tax 1200 630 Lee Stace
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Payment options for 15 January provisional tax

One of the challenges of paying provisional tax in times of economic uncertainty is making a payment that is both appropriate and does not negatively impact your cashflow. Tax is one of the largest expenditure lines for a business, so you want to get it right. You don’t want to overpay, because that’s money sitting…

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How to avoid singing the holiday cashflow blues 1200 630 Lee Stace
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How to avoid singing the holiday cashflow blues

Cash is king and having the necessary cashflow to see you through the Christmas-early New Year holiday period is important. We say that because the most challenging payment date on the tax calendar – 15 January – is drawing near. And if your cashflow is a bit of a dog’s breakie, then you would be…

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How to grow your tax advisory through thought leadership 1200 630 Colin Kennedy
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How to grow your tax advisory through thought leadership

There’s a so-called old piece of wisdom that says: “Absence makes the heart grow fonder.” In reality, it is an old wives’ tale because it isn’t true – not for relationships and not for tax advisory businesses. If you want more business, if you want more referrals and more growth, you need to up your ‘visibility’…

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How to overcome the pain of tax procrastination 1200 630 Colin Kennedy
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How to overcome the pain of tax procrastination

With Inland Revenue (IRD) currently charging a penalty of seven percent interest, you would think that every single business owner in New Zealand would be highly motivated to get their tax issues sorted. Why then, is tax procrastination a problem? Tax is an obligation. We have no choice but to get on top of it.…

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Image: Tax refund
Accessing overpaid tax faster in uncertain times 1200 630 Lee Stace
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Accessing overpaid tax faster in uncertain times

Cash is king and being able to get your mitts on it quickly in an unpredictable world where circumstances can – and do – change in an instance is priceless. Just ask the taxpayers who were able to access the provisional tax payments they had deposited in the tax pooling account of Tax Management NZ…

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