Digital cryptocurrency could be an investment option to consider for your KiwiSaver fund in the future if NZ Funds Management’s new approach to investing super pays off. As it stands, KiwiSaver isn’t a saving’s account – it’s an investment of your money on your behalf by your KiwiSaver provider. Each provider may have a different…
A new personal income tax rate is to come into effect on 1 April 2021, which increases the amount of gross income that the government deems subject to tax. This outcome will impact current Fringe Benefit Tax rates for all employers. FBT rules have been designed and structured to ensure that any of these fringe…
Every little bit of money counts in today’s economic climate, and for many, it’s about making what they have, work for what it is that they need. Money management is an important skill to learn as it helps boost finances with very simple steps. Money management can ease the stress and financial worries of people…
Business ethics are the system of moral and ethical beliefs that guides the values, behaviours and decisions of a business organisation and the individuals involved within that business. These ethics are important to business as many of them are tied directly into the law, and breaches of these can be punishable as an offence Though…
KiwiSaver contributions come from before-tax pay, at a set rate. The KiwiSaver scheme invests these contributions made by individuals so that those contributions can earn money straight away. This means that the profits that those contributions make may need to be taxed. To use the right tax rate, it’s important to know what kind of…
An income equalisation scheme is offered to businesses in the farming, fishing, forestry, testing, construction, and mining industry. It operates as a method for businesses to even out income fluctuations by distributing their gross income from year to year. A special account is created for businesses where they can pay their income and earn an…
Buying an existing business can be a great entryway into being a business owner – but it does come with challenges. Following these steps might make it easier for you to make sure that the business you buy is right for you. Understanding if you are ready for business: This doesn’t just involve the financial…
When checking through your transactions, you might come across a transaction that doesn’t look right. If this is the case, you should get into contact with your bank as soon as possible. An unauthorised transaction: Money transferred from your account without your permission A mistaken transaction: Paying the wrong person by using the wrong details…
The business management style you adopt will depend on the needs of your business, what motivates your employees, and your style of work. Therefore, you do have some flexibility when it comes to the choices you make and how you manage your business. However, there are some which you should always avoid due to the…
Individuals should regularly check whether their Kiwisaver fund is right for them and not shy away from switching funds to a more suitable one if they are not appropriate. The following points are what you should focus on when reviewing your fund: Is the fund suited to your situation – depending on which stage of…