#cashflow

Paying income tax when it suits business cashflow

Paying income tax when it suits business cashflow Lee Stace

Job done! John Dale (left) working with Xpress Trailers of Silverdale on its revolutionary electro-hydraulic tip trailer. Photo: Supplied. We speak to Battery Technology New Zealand to find out how TMNZ provides it with the flexibility to align provisional tax payments to its cashflow cycles. Seasonal cashflow can make income tax payments difficult for businesses, but…

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Provisional tax reminder letters

Provisional tax reminder letters Lee Stace

We have a provisional tax reminder template which you may find useful, as it references the ability for your clients to use tax pooling to defer upcoming provisional tax payments to a time which suits them. This might be of interest to those clients who are experiencing cashflow constraints ahead of their first instalment of…

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Avoid a cashflow problem in the New Year

Avoid a cashflow problem in the New Year Lee Stace

Here’s how you can delay paying 15 January provisional tax to free up working capital at a time of year when businesses are likely to need it most. The early part of the New Year can be a challenging time for small and medium sized businesses. Results from a poll conducted by the Employers and…

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A way to solve Christmas cashflow issues

A way to solve Christmas cashflow issues Lee Stace

The period after Christmas can be tough for many small and medium sized businesses. According to more than half the respondents to a poll conducted by the Employers and Manufacturers Association, January to March is when they tend to experience cashflow constraints. It’s hardly surprising, really. The period after Christmas is traditionally slow business-wise. Consumers…

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Expand your business using provisional tax

Expand your business using provisional tax Lee Stace

Provisional tax payments are inevitable and can force any small or medium sized business owners to place plans to expand or reinvest on the backburner. However, Tax Management NZ (TMNZ) has a solution that enables them to manage cashflow better by making an arrangement to pay their tax later. Any owner with cashflow issues should…

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A smarter way to manage cashflow

A smarter way to manage cashflow Lee Stace

A number of you will pay your first instalment of provisional tax for the 2015 income year on 28 August. However, there may be myriad reasons why it may not suit them to make this payment: • You are still getting their 2014 accounts in order. • You might want to take advantage of the…

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Provisional tax doesn’t have to cause cashflow problems

Provisional tax doesn’t have to cause cashflow problems Lee Stace

Small and medium-sized businesses acknowledge there are times of the year when it is difficult for them to make provisional tax payments due to cashflow issues. Tax pooling can help them manage their provisional tax liabilities without breaking the bank. A recent poll on tax payment practices and tax pooling, conducted by the Employers and…

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Why tax pooling was implemented

Why tax pooling was implemented Lloyd Evaroa

When you consider the fees the IRD loses out on by allowing tax pooling, it’s hard to comprehend why it exists. What’s in it for them? There are several reasons why tax pooling is advantageous to IRD. To understand them you need to look back to when the use of money interest regime was introduced…

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Creative tax solution to fast growth

Creative tax solution to fast growth Lloyd Evaroa

Fast growth can impose hefty pressure on a business’s financial situation, especially at tax time. If a company has trouble finding the cash to pay and they’re late, the IRD hits them with high use of money interest on their tax bill at 8.4% plus there are late penalties as well. Smart companies plan ahead…

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The growing prevalence of tax pooling

The growing prevalence of tax pooling Lloyd Evaroa

Just as Xero changed the way most businesses approach their accounting, Tax Management NZ (TMNZ) is transforming New Zealand’s tax landscape with tax pooling. More and more companies are taking ownership of their tax through this innovative service. Most of New Zealand’s top 200 companies use tax pooling and in the past 10 years, TMNZ…

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