Hello to all our clients,
We hope you enjoyed a restful break over the Christmas and New Year period and are returning refreshed, energised, and ready for everything 2026 has in store.
Welcome to the February 2026 update and the beginning of a new year of business.
How We Roll Out Updates
We normally provide KTS updates on a regular two‑month cycle, to ensure you receive meaningful information without an overwhelming volume of messages.
If an important development arises between scheduled updates, we may send a special notice so you have timely access to anything that could affect you.
The KTS updates are usually divided into two sections:
Firstly “Information from the KTS Office” which contains important updates and reminders all clients should be aware of.
Secondly “Other updates of interest to clients”. – This section highlights items that may be useful for your business, trust, or personal affairs. Feel free to scroll through the topics, and if something catches your attention, simply click on the link provided to learn more.
We hope our updates are both helpful and informative.
Information from the KTS office
We welcome two new Accountants to the team at KTS
Michelle Stucki
Michelle is a senior BAS accountant with over 20 years’ experience.
Her primary passion is the preparation of annual financial statements, where she brings a high level of accuracy and insight.
She values strong client relationships and believes that regular, clear communication—especially during peak periods is key to delivering great service.
Elize Potgieter
Elize is a senior accountant with over 18 years’ experience.
She began her accounting career in South Africa, where she obtained a Bachelor of Accounting Science from the University of South Africa, followed by 8 years of experience as a senior accountant..
Since relocating to New Zealand, Elize has gained 4 years of experience as a senior accountant working closely with clients, across a wide range of accounting functions.
A further addition to our team at KTS
Sarah Houchen
Sarah is an independent bookkeeper who works with KTS on a contractual basis, preparing clients’ GST returns.
In addition to bookkeeping, Sarah assists with the transition of KTS clients to Xero, ensuring a smooth setup and system migration.
She is also experienced in providing Xero training and support.
If you need additional training or assistance with using Xero, Sarah is available to help.
You can contact her at sarah@kts.co.nz
Work in progress
We wanted to provide an update regarding the recent delays in completing financial statements.
This has mostly been caused by a significant influx of work earlier in the year, plus the transition of our operating system to Xero, which has taken longer and been more complex than initially anticipated. This process required significant time and attention to ensure accuracy and continuity.
The good news
The good news is that we are now nearing the completion of this transition.
In addition, we have welcomed two experienced accountants and an independent bookkeeper to our team, which will further strengthen our capacity and efficiency.
With these improvements in place, we expect a substantial acceleration in our turnaround times moving forward.
We genuinely appreciate your patience and understanding throughout this period of change. We look forward to delivering a much faster and smoother service experience as we move ahead.
Tax Due on the 28th February 2026
GST is due on the 28th February for the period ended 31st January 2026.
Its a good idea to schedule this payment to avoid late payment.
Other updates of interest to clients
Claim your business expenses
Is your business ready to claim expenses and save money?
As we are nearing the end of the financial year in March 2026, it’s a good idea to look at your business expenses and work out what you can claim.
To help reduce your tax bill, you can offset many of your business expenses against your business income.
The more business expenses you claim, the less tax you must pay. You’ll need to keep good records and hold on to your receipts.
Don’t ignore your tax debt
If you’ve got GST or Employer Tax debt, Inland Revenue wants you to start repaying it now.
Expect a call from Inland Revenue.
Ignoring your debt will not make it go away.
What IRD will do if you have tax debt:
- IRD will call you first.
- They’ll leave a message if you don’t answer their call.
- If you don’t respond to their message, they’ll make one more attempt to contact you, but won’t leave a message.
- If you still haven’t responded, they may visit you in person.
What renovating a new rental could cost you
Often, when a property is bought for rental, the owner will do it up shortly after purchase and before it is tenanted.
IRD’s view is this cost should generally be added to the amount paid for the property.
Why?
Because if it is work which the previous owner might have done, it is assumed, if that had happened, you would have paid more for the property.
It is better to plan your maintenance and delay to a point where some wear and tear has occurred while you own it. Don’t rush in at the beginning.
Discounting could cost you more than you think
It’s not surprising many businesses drop their prices to compete with a rival.
Especially one who’s started discounting to get more sales.
If you’re tempted, consider where you want to sit in the market, not just how your prices compare.
A bit of thought could save your business from making a costly mistake
Upcoming KiwiSaver Changes
If you are an employer, you need to be aware that from 1 February 2026 your employees who are KiwiSaver members can apply for a temporary rate reduction.
This is in advance of the default rate increases coming in April 2026.
