Hi to all our Clients,
Can you believe it’s November already?
This update contains important messages from our office and other articles which we hope you will find both interesting and informative.
Please let us know if you require any further information or would like clarification on any subject mentioned in this update.
News from our office
Increase in costs for GST returns
KTS has been preparing and filing GST returns for a lot of our clients for many years.
After 10 years of no increases in the price, we are unfortunately forced to introduce new charges for GST preparation and filing.
These are the new charges:
1 Monthly gst returns – $200 plus gst
2 Monthly gst returns – $250 plus gst
6 Monthly gst returns – $350 plus gst
Filing a nil gst return – $100 plus gst
Checking client coding and filing any gst return – $150 plus gst
These new charges come into effect in the current GST period ending 30th November, which is due on the 15th January 2023.
We are sorry to have to announce these price increases, however we wish to assure our clients of our best level of attention and service with GST.
GST returns and the Christmas break
The monthly end period for the current GST is the 30th November.
We would appreciate it if Clients could please get your records to us as soon after the end of November as possible.
This will give us the time to prepare your GST returns before our office closes on the 22nd December.
This GST return is due on the 15th January 2023.
Other news
Modernising GST
Inland Revenue is changing the GST rules for invoicing and record keeping.
This means GST registered businesses may need to update some of their business processes and systems.
The changes are designed to support e-invoicing and electronic record keeping.
Most of the changes come into effect on 1 April 2023.
Non taxable costs for travel allowances
Some employers provide a non-taxable allowance for their employees who incur additional transport costs.
Inland Revenue is planning to clarify its existing rules for providing a tax-exempt allowance for these costs.
To ensure you pay an allowance, which would be acceptable to Inland Revenue, you need to follow their rules.
Dealing with bad payers
The best thing to do with bad payers is to stop dealing with them.
All the time you put into collecting money you are entitled to could be better used to generate income.
You could consider sending your bad payers to a debt collection agency.
However, if you do need to deal with bad payers – here are some tips:
Get with the zoom generation
Zoom became a by-word for communication during the 2020 Covid lockdown.
Since then, the platform has had huge growth as remote work becomes the new normal.
The number of daily users shot from 10 million in 2019 to more than 300 million today.
The Government’s Digital Boost asks: Are you using it to its full potential?
The Government suggests three top tips to make online communication easier:
If you have any queries or require any further information as a result of this update, please do not hesitate to contact us.
