The old Traditional bookkeeping once involved tedious, manual, data entry, stuck behind the computer. Transactions were typed in one digit at a time, and bank reconciliations typically only happened once the paper statement was received or downloaded from an online banking platform. Paperwork needs to be filed and stored for seven years, and physical copies […]
Depreciation on commercial buildings The passing of the Covid-19 Response (Taxation and Social Assistance Urgent Measures) Act 2020 (the Amendment Act) re-introduced the entitlement for owners of commercial buildings to claim depreciation on the building itself. Apparently, however, there has been some confusion as to the effective date of the legislative change, and in case […]
Our relationship with Gilligan Sheppard began 20 years ago, when my brother Paul and I had a very successful business called Ballantyne Directories. Ballantyne Directories was a Yellow Pages advertising agency with a multi-million-dollar turnover, designing and placing ads for over 500 clients throughout New Zealand. So, what led us to engage with Gilligan Sheppard? […]
For those of you who attended our recent event on business growth, you would have heard Liam Forde from ‘The Zone’ talk about the role of human engagement in successful business execution, and the tools essential to optimise that. I was introduced to Liam by a mutual friend over 20 years ago, that’s two decades of conversations with […]
Commercial accommodation expense apportionment With last week’s AWIR solely focussed on residential accommodation (interest limitation proposals), let’s begin this week’s AWIR looking in the other direction – accommodation more of the commercial type – hotel, motel or boarding houses – and apportioning expenditure when the operator of the accommodation also lives on site. The topic is […]
Registering for GST under section 54B This week’s AWIR is dedicated solely to GST, as well as two interpretation statements, one finalised and one released in draft form, the latter of which covers a critical element of the former. The finalised interpretation statement is IS 21/03 GST – Registration of non-residents under section 54B. Section […]
Pay slips are an important component of any payroll services. Also known as wage slips, paystubs or pay advice. Before the birth of the internet, emails, and the old wire transfer systems, pay slips were often provided to employees in a paper form along with their pay cheque. The pay slip was an acknowledgement of the […]
As we roll into a new financial year and start to wrap up the data for the 2021 financial year, it is prudent to look at the changes to compliance that may affect your financial reporting. The Covid pandemic has created extraordinary economic circumstances, and there is still uncertainty around the future and the impact […]
Are you sick and tired of spending hours upon hours, scrolling through your accounts, wondering where all your hard-earned money has disappeared to? Perhaps it was that dress you bought on the company card, or that pesky subscription you never meant to sign up for? Or was it neither? Had you fallen into a fraudulent […]
Revisiting the dynamics of raising capital for start-ups and growth companies over this series of articles, has reminded me of the low statistics of women led businesses able to obtain venture capital (VC) funding. Less than 5% of VC funding worldwide are to women led businesses, and even less for women of colour. On the […]
Limited partnership an ‘overseas person’? The Overseas Investment Amendment Act 2021 (No 17 of 2021) received the Royal assent on 24 May 2021. It is the second of two omnibus bills introduced in 2020 to amend the Overseas Investment Act 2005. The bills have come from the Government’s Phase Two Reform of the Overseas Investment […]
ESS employer deductions – were you confused? Just in case you were a little confused, IR has issued QB 21/04 to provide an answer to the question – when an employer is party to an employee share scheme, when does an employer’s expenditure or loss under section DV 27(6) or income under section DV 27(9) […]