We have officially entered a recession, with the Gross domestic product (GDP) falling by 0.1 per cent in the first quarter of 2023, and the RBNZ is ready to raise interest rates again if necessary. As we navigate through these challenging times, there are predictions that our country may emerge from this recession. However, […]
Imagine issuing a payment on a Sunday or public holiday and seeing it processed on the same day. That is no longer wishful thinking, for the banking world has undergone a radical upgrade. As of the 26th of May 2023, banks are now processing payments to and from other banks every day, 365 days […]
With the incorporation of new roles and responsibilities, skill requirements, and tasks, change is inevitable in any profession. In an ever-changing economy and as new technologies emerge, many professions are undergoing profound restructuring. The financial industry, for instance, has undergone a significant transformation over the past decade with the rise of online banking and […]
As a business owner, whether you are just starting out or have been in business for a while, you know that running a successful business requires more than just passion for your product or service. It also requires a solid understanding of financial reporting. Running a business without financial reporting is like a ship without […]
As we bear witness to the aftermath of Cyclone Gabrielle, our hearts are heavy with the knowledge of the immense pain and suffering that many of our fellow citizens are enduring, and we want to extend our deepest empathy and support to each and everyone who has been affected by this historic weather event, and […]
Are you a success-oriented business owner? Then this article is for you, it’s time to pay attention to the often overlooked but oh-so-important world of HR. Sure, you may think of HR as just “managing people” but let us tell you, it’s so much more than that. HR is the backbone of any successful business, […]
Starting your own business is a huge accomplishment. You have the power to be your own boss, set your own hours, and make your own decisions. But with this power comes great responsibility – namely, the responsibility to choose the correct business entity. Business structures can be complex, and there are a few different structures […]
As a business owner you are bound to make mistakes. It is part of the process, just as it is part of life. However, it is imperative to understand that how failures are dealt with determines whether they lead to success or failure, and whether unnecessary mistakes can be prevented from being made. Even the […]
As the economy has reached the peak of the cycle, businesses have had to adjust their strategies to stay afloat. However, Kiwi small businesses have managed well so far to readjust to this shifting economic climate, navigating accordingly. Those that have been able to adapt and change with the times have been the ones that […]
On 21 March 2022, the Small Business Cashflow Scheme (SBCS) loan amount increased to $20,000 (from $10,000). The scheme was originally introduced to support small to medium businesses and organisations struggling with a loss of revenue due to COVID-19. The eligibility criteria have not changed. Your business must have: no more than 50 full-time equivalent […]
Following a comprehensive review of the Charities Act, the Government is moving ahead with changes to modernise the legislation that will increase transparency for the public, improve access to justice services and reduce the burden on smaller charities. The review of the Charities Act commissioned by the Government was led by the Department of Internal […]
Press Release: Inland Revenue Department Inland Revenue has released its compliance focus on offshore tax transparency, together with guidance to assist tax agents in complying with the international rules. The compliance focus highlights the extensive international exchanges of information taking place as well as the new intelligence tools being used in tracking down people who […]
Started in July 2007, KiwiSaver is a voluntary retirement savings scheme to help you save for your future. Available for all New Zealand citizens and permanent residents living in NZ, it is run by independent providers who you choose to manage your savings. These providers invest their members’ KiwiSaver funds to make a greater return […]
As a small business owner, you know the importance of having someone take care of your finances, especially when doing taxes. Let’s face it, you started your own business to do what you love, not be bogged down with figures and numbers. So, have you ever wondered what the difference is between a bookkeeper […]
We’ve all heard the old adage ‘there are only two things certain in life: death and taxes, and while trying to understand your taxes might feel like it’s sending you to an early grave, fear not, we here at Accountants Plus are taxation specialists. To help you in the first step of understanding taxes, […]
We’ve been hearing the word inflation used a lot over the past few months, but what does it actually mean and how does it affect you and me? You might think that inflation just means things cost more, and in simple terms that is correct. The problem arises when your income doesn’t rise in […]
Tax time is just around the corner and this last year hasn’t exactly been an easy one for most NZ businesses. What with lockdowns, supply chain issues, and inflation, it’s nice to know that the Government understands the effect that COVID-19 has had on small businesses and is providing tax relief and income assistance […]
Everybody loves a deal, don’t they? We’ve made it through Christmas and the Boxing Day sales, next up is the New Year sales, followed by Waitangi Day deals, then Valentines Sales, the list goes on. It almost seems like consumers would be crazy to pay full price for items when they can just wait […]
Unless you’ve got a business that caters to the holiday herds, chances are you’re going to notice a slowdown of activity from Christmas through to as late as the end of February. So how do you protect yourself against the inevitable summer slowdown? Read on to discover some useful tips and strategies on planning, […]
So what is cloud accounting? Simply put, cloud computing is the delivery or availability of computing services via the internet. It could be for such things as storage services, software, analytics tools, or accountancy services. It gives users access to accounting technology on a subscription basis – you pay a monthly or annual fee, […]