TMNZ Blog

News & resources for business flexibility, cashflow and capital expenditure

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Self-reliance key to surviving rolling snap lockdowns 1200 630 Colin Kennedy

Self-reliance key to surviving rolling snap lockdowns

The prospect of COVID-19 continuing to flare up around New Zealand and of alert levels being raised, even for between three and seven days, implies business owners could face a smattering of these disruptive, short-lived lockdowns for much of 2021. For any businesses reliant on foot traffic and person-to-person services these short, but still brutish,…

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How to design a business process 1200 630 Colin Kennedy

How to design a business process

Dan Robbins died last year, aged 93, and you’ve probably never heard of him. You will, however, understand his relevance to business processes when you learn that Robbins invented the famous paint-by-numbers kits during the 1940s. Dan himself took inspiration from Leonardo da Vinci, who used number patterns to train his apprentices. If da Vinci…

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IRD payment allocation rules explained 1200 630 Lee Stace

IRD payment allocation rules explained

Provisional tax payments made on or before the date of the final instalment for the year are applied to the oldest overdue tax amount first while payments made after the date of the final instalment are applied to the interest owing on any overdue tax first, then the overdue tax amount. The IRD payment allocation…

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

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

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

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

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

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

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

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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