Hello to all our Clients,
The budget has come and gone, good news for some, and not so good for others.
For business owners, and small business’s, it’s a time to consolidate, dig in and make the most of this coming financial year.
Here are some ideas and updates from our Office.
Investment property – tips for maximising returns after the tax changes
Recent tax changes will impact many of our KTS Clients who are residential property investors.
Get some good ideas and tips on how to best manage your investment properties
When is a gift really a gift?
A gift is not really a gift if you get a benefit as a result of it.
Inland Revenue says the payment must be voluntary and there must be no “identifiable direct valuable benefit” arising or may arise as a result of the payment.
Pay the experts and avoid the DIY disaster’s.
Are you a ‘Do it yourselfer’? – a lot of New Zealander’s are exactly that.
However, do-it-yourselfer’s can be a menace, especially in the field of accountancy. If you’re tempted to try something yourself in an effort to save money, think twice.
Contractor or Employee
Sometimes there can be a fine line between whether someone who works for you is a contactor or an employee, and it can be difficult to get it right.
Inland Revenue has produced legal tests to determine whether someone working for you is an independent contractor or an employee.
If you get it wrong, the penalties can hurt. Employers can be made to pay the PAYE and the employee can be denied expense deductions, not to mention penalties.
Protect your on-line privacy
On-Line privacy has become a huge issue in recent years, as more and more is being revealed about how big companies analyse our behaviour.
From our browsing history data is sold on to other companies who want to sell to us, and we’re then targeted with ads and promotions.
Can we do anything about that? – you bet we can.
Factor sick leave into your pricing
Sick leave needs to be factored into your pricing, especially as unfortunately, some staff will abuse sick leave.
Also sick days are increasing as a result of the doubling of the sick leave entitlement to 10 days, changes like this can cut into your profit margins before you realise it.