New Zealand tax residents selling residential property (including overseas property) that they have owned for less than 5 years may be subject to income tax. To determine whether you will have to pay income tax, you will need to use the bright-line rule. The bright-line rule only applies to property bought on or after 1…
Maximising returns on investments is the primary goal for every business owner who invests in a marketing campaign for their brand. Learning how to properly test and troubleshoot your budget according to your business needs can help you save a failing campaign from costing you money. ObjectivesThe first step to budget optimisation is being clear…
When business is going well, it can be easy to procrastinate planning for the bad times. However, preparing for disaster before it strikes by having a contingency plan can be the key to business survival. A contingency plan can help businesses prepare for possible circumstances such as natural disasters, employee theft, negative publicity or staff…
A successful sales strategy plan will provide your business with clear priorities, goals, and outcomes that can help you increase sales. Outline your mission and goalsWhat’s your business’ mission statement? What are the goals and objectives that will help you achieve this? Your mission statement should define what your business stands for and what it…
Employees are paid their KiwiSaver contributions through their employers, however self-employed individuals have to do things a little differently. If you are self-employed, you agree to your contribution level with your provider instead of contributing a percentage of your pay. Self-employed individuals who do not receive PAYE income will not be required to make any…
‘Word-of-mouth’ referrals may seem like an outdated concept in today’s digital age of online reviews, but a few credible and positive opinions can still go a long way when it comes to attracting new clients. Customer referrals are never guaranteed, but here are a few methods you can use to increase the number of people…
Self-employed individuals (contractors, sole traders, partnerships, or company owners) running a business from their home can claim the parts of their home used for business as an expense. Any space in your home that is primarily used for the purpose of running your business can be claimed. This may include certain rooms such as a…