+64 9 520 9200      enquiries@alliott.co.nz

The Business Advisory Blog

Welcome to our blog

Insight, news and updates from Alliott NZ Chartered Accountants, Auckland New Zealand. The views expressed here are the views of the author and should be discussed in further detail should an article be relevant to your individual circumstances.

While every effort has been made to provide valuable, useful information in this publication, this firm and any related suppliers or associated companies accept no responsibility or any form of liability from reliance upon or use of its contents.  Any suggestions should be considered carefully within your own particular circumstances, as they are intended as general information only.

Email me when new posts are made to this blog

Managing cash flow Pt 1

Written by Vanessa Williams on September 14th, 2017.      0 comments

nz money 100s 50s generic n2-451Anyone running a business knows the story: one day, there is a pile of cash in the bank, then it appears to disappear overnight.

Here are some tips to help you manage your cash flow if you ever find yourself in this situation.

 

Get ready for changes to how you file GST online

Written by Greg Millar on November 3rd, 2016.      0 comments

folders filing-655NZ Inland Revenue is improving services in myIR for managing your GST, with new services available in early 2017.

 

File GST returns straight from Xero

Written by Anthony McIlroy on August 2nd, 2016.      0 comments

GST-274With eGST submit your return straight from Xero, making your life easier and reducing the risk of incorrectly copying numbers from Xero to the old GST forms
Topics: Gst , Xero
 

NZ Budget 2016: PM announces proposals to simplify business tax

Written by Anthony McIlroy on April 14th, 2016.      0 comments

budget-789Alliott NZ welcomes the simplification of business tax changes announced by the government this week, it will be a boon for small businesses to be able to manage taxes on a pay as you go manner or, where they choose not to, use that particular method and not be exposed to the use of money interest charges that applied on miscalculating your payments.
 

Got GST to claim for a period you've already filed a return for?

Written by Vanessa Williams on March 7th, 2016.      0 comments

GST-274 The Inland Revenue have recently reiterated their communication on this topic and recommended any GST input claims be processed in the next GST return to be filed.
Topics: deductions , Gst, tax
 

Resigning as a NZ trustee

Written by Anthony McIlroy on February 11th, 2016.      0 comments

trust-599If you are a trustee of a trust this information applies to you.

IRD stated that it would continue to hold a resigned trustee responsible for a trust’s taxes until it receives written advice of the resignation. This liability continues until any debt is paid.
 

How’s your business cash flow leading into Christmas?

Written by Anthony McIlroy on October 23rd, 2015.      0 comments

nz money 100s 50s generic n2-451The age old saying, “Cash is King” certainly holds true throughout Christmas! Not only do you want to have enough money to enjoy the summer break, you also need enough to cover GST, payroll taxes, provisional tax and staff holiday leave.
 

Purchased secondhand goods for your business?

Written by Vanessa Williams on September 11th, 2015.      0 comments

second hand-322In some situations you may have purchased secondhand goods to use in your business but didn't pay GST on the purchase because the seller wasn't GST registered.

The good news is you can still claim a GST credit as long as the goods were located in New Zealand at the time of purchase and the details of your purchase have been recorded. 

 

All I want for Christmas is a car: should I lease or purchase

Written by Emma Clare on November 24th, 2014.      0 comments

Introduction

If you're looking to buy a new vehicle and require finance, the salesperson will offer you two options: lease or purchase. Great. So which one is right for you and your business?
 
The most important thing to remember at this point is that over the normal period (usually 3 years) for lease or hire purchase:
 
The overall cost of owning or leasing a vehicle works out to be approximately the same over the three years when all cost factors are taken into account.
 
Leases and hire purchase (HP) or loans are simply two different methods of vehicle financing:
 
  • Leases finance the use of a vehicle,
  • Hire Purchase finances the purchase of a vehicle.
 Each has its own benefits and drawbacks depending on the vehicle user’s own circumstances and tax situation.