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Chartered Accountants

Trusted advisers of all tax compliance and annual accounting issues facing both individuals and small businesses.

Developing a Communication Plan

Posted on Jun 29, 2016 by editor

People in business find it hard to stay in touch. There’s always work to be done, so why spend the time just talking? But that’s where problems arise. Frustrated employees don’t know what’s happening in their business, customers can’t get calls returned, suppliers don’t understand why a payment is late. When people in business want to know how to communicate better, what they mean is they want to persuade others better to see and do things their way. They focus on what they’re going to say. What you say is important, but don’t underestimate the importance of listening. First, make […]

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Finding your target market

Posted on Jun 29, 2016 by editor

Who’s your customer? That’s one of the most important questions any business can answer, but it’s particularly important for small businesses. Why? Because only by having a clear definition of the exact type of customer you’re trying to reach can you make the most of your limited marketing dollars and have the biggest impact on your bottom line. You need to know your “target market.” Narrowing the type of customers you’d most like to reach — and the kind that are most likely to be willing, eager and able to buy from you — is a key building block to […]

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Building your customer base on a budget

Posted on Jun 22, 2016 by editor

Businesses starting out will often be challenged by the need to generate brand awareness but with a limited marketing budget. Minimising costs will often be at the forefront of business owners minds with uncertain revenue and copious amounts of capital expenditure; marketing is unlikely to be a top priority. However, new businesses need brand exposure in the early stages as potential customers or clients are unlikely to just appear. Here are some ways business owners can cost-effectively create awareness: Social media Many small businesses are reluctant to use social media. Whether they are “time-poor” or “confused” by social media, there […]

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Planning your exit

Posted on Jun 22, 2016 by editor

When you’re busy trying to build your business, you don’t spend much time thinking about how you’ll eventually end it. Sure, you might think that one day you’d like to retire. But while you can envision yourself golfing or gardening, what’s happened to your business? You need an “exit plan.” An exit plan is the long-term strategy you have for transferring ownership of your business to others. Your thoughts about an exit help shape decisions you make now and give you a clearer direction on how to grow your business.  Why bother developing an exit strategy? First of all, you […]

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Getting rebranding right

Posted on Jun 22, 2016 by editor

Rebranding can be one of the most rewarding decisions a business owner can make but it is risky business. Businesses looking to rebrand need to ensure they are rebranding for the right reasons. Whether you decide to rebrand due to competition or evolving customer needs, ensure you have a clear strategic vision. A successful rebrand requires planning and consideration of the risks involved. Here are some things to consider before your brand rollout: Market research Before embarking on rebranding, understand how your customers perceive your brand compared to how you would like your brand to be positioned. Conduct research into […]

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The art of effective negotiation

Posted on Jun 15, 2016 by editor

Daily existence is made up of a continuous series of negotiations. From teenagers who want to borrow the car to the employee who seeks a pay increase, negotiation is a fact of life. The key to success is remembering that everything is negotiable, and that to get a deal you must ask for one. Many people stop right there because negotiating makes them uncomfortable. They view the process as a contest of wills in which power determines outcome, each party seeks to best the other, and the little guy doesn’t stand a chance. That kind of positional bargaining may produce […]

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Choosing the right office space

Posted on Jun 15, 2016 by editor

Choosing an office space for a business is a big decision; not only do owners have to consider what size space they require, but they also have to factor in things like the budget for rent and office proximity to public transport. Remaining focused on the essentials is key to finding the perfect office space. Here are three factors to consider: Travel and access for your workers A top priority when finding an office space should be proximity to public transportation or roads and parking spaces that will allow your staff to commute to the office. Offices spaces that are […]

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FBT on the private use of vehicles

Posted on Jun 15, 2016 by editor

Employers who provide a vehicle to an employee, their associated persons or shareholder-employees to use privately must pay fringe benefit tax (FBT), even if the vehicle is not used. Travelling between work and home is generally classified as private use. However, the IRS has provided an interpretation statement that contains guidelines for determining whether travel between home is deductible and whether it will be treated as work-related use for FBT purposes. Employers are required to keep records for any motor vehicle they make available to employees for private use. When a private use restriction is in place, employers must maintain […]

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Changes to KiwiSaver will benefit home buyers

Posted on Jun 15, 2016 by editor

Plans have been announced to change the KiwiSaver HomeStart grant to make it easier for second-chance homeowners to use their KiwiSaver funds to purchase a new home. The current scheme is only available to first home buyers and those who have previously owned property but have low earnings and assets. The asset limit is 20 per cent of the house price caps of $350,000, $450,000 and $550,000. The income limit is $120,000 for a couple and $80,000 for an individual. From 1 July 2016, the income limits will be dropped so second-chance homeowners will be able to access their KiwiSaver […]

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Establishing your salary as a business owner

Posted on Jun 8, 2016 by editor

Although business owners and entrepreneurs get to decide on their own salary, determining the amount can be one of the hardest decisions to make. Striking the right balance between paying yourself too much or too little is an age-old conundrum that faces every business owner. Importantly, owners shouldn’t make the mistake of paying themselves from the profits their business makes. Before paying yourself with the money coming into your business, owners need to take things like tax, payroll and fixed costs into account. There is also no point paying yourself a little amount if it is going to cause financial […]

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Latest news

Business tax bill is now law

Posted on April 12, 2017 by BDS Hughes

The Taxation (Business Tax, Exchange of information, and Remedial Matters) Act 2017 received Royal assent on 21 February 2017. The new legislation focuses on changes to business taxation to make tax simpler. From 1 April 2017, the threshold for self-correction of errors under section 113A of the Tax Administration Act 1994 has increased from $500 to $1000; the use-of-money interest will be reduced or removed for the vast majority of business taxpayers; and most RWT exemption certificates can now be issued for more than one year. For the 2017-18 and later income years: The 63-day rule for employee remuneration has […]

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