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Are you in business? Do you have rental properties? Increasing your business borrowings by restructuring your finances can have its advantages. This video will show you how to maximise your tax deductions on interest on borrowed funds and steps you can take to achieve this.

Watch the maximise your tax deductions on interest on borrowed funds video here.

KiwiSaver Questions in New Zealand Answered

Watch this video on KiwiSaver as we answer some of your more common questions: 
  • Why is it important to make my contributions by 30 June each year? 
  • Should I have a KiwiSaver account if I have a mortgage to pay? 
  • What if I don't start my KiwiSaver until I am older?

Are you looking forward too or dreading retirement? 

Back in the heady days of the booming eighties it was not untypical to hear people talking about retiring in their fifties. What with the global recession, easy credit and uncertainty in the property and share markets it's more a case of whether we can ever retire, especially with us all living longer these days. So how might you survive in retirement?

Read more

Watch this short video on why it is important to pay your IRD bill on time and ways to avoid nasty penalties.

Click below.

Income Tax – Getting it Right

"There are only two certainties in life – death and taxes!".  Although it is difficult to tamper with the sand flowing though the hour-glass of life, good habits can slow its pace.  Good taxation planning can ensure that taxes can be managed so there are no nasty surprises resulting in urgent phone calls to the bank manager a few days before due date or suffering unpleasant IRD penalties.

What processes should business owners adopt to plan their regular income tax commitments?  Here's a few ideas

How to avoid an IRD audit

Whilst statistically speaking the chances of being selected for an audit are slim, it nevertheless features way up the rankings as being one of life's most stressful and unpleasant experiences, and as such, like all nasty things in life, best avoided at all costs! 

 These are the most common ways you can be selected for an audit and what you can do about it (or not as the case may be!).

We all have an Achilles heel. Sadly, negativity can take us unawares. Negativity is productivity cancer. Heavy words but, in truth, it can hugely hinder success. 

It saps your energy and the team's. It's deadweight in all your dealings with customers. And if you never want to have a great idea again, negativity's the way to do it. But by being mindful of negative thoughts, we can change our thinking and prevent the effect it has on how we operate.

Here are some of the biggest hindrances to our thought patterns.

5 benefits of cloud accounting

Cloud accounting has been around for quite a while now, but even still, the idea of taking our data to the cloud can be a little confronting for some. With these technological enhancements, there's never been a better time to understand the opportunities to optimise and grow your business. If you've been meaning to brush up on the great benefits, this one's for you. Read more…

How to cope with business competition

In the area of business competition, there's one thing I've learnt over the 32 years I've been at the coalface of advising SMEs and that is, no matter how many other competitors there are in your line of business, you can still be successful if you get your core business activities working the right way.

The best example for that locally are cafés, which are springing up all over the place. Some are busy all the time, some are deserted. Yes, location and being on the sunny side of the street are both important, but there's a lot more to it than that, especially when the deserted ones are in good locations!

So does that mean that you can ignore the competition and carry on? A lucky, super-successful few can - maybe - but not the majority of us. Not only can we learn many things from our competitors, but in addition, nothing stays the same in business for very long so it's vital to know what's happening out there.  Read some great tips here for coping with the competition.

When it comes to running your own business, keeping your accounting in-order must be an achievable goal. That said, there are times where a little lack of discipline can cause some headaches down the track. Rather than getting yourself in a bind later, let's have a look at some simple steps you can take to help keep your accounting organised.

1. Structure your bank accounts

Mixing up business and private transactions in your bank accounts is a recipe for disaster. Always use separate business bank accounts for your business transactions; your private bank accounts should be kept wholly for private transactions. The cost of business bank accounts these days is very low, and there is no excuse for not having a business bank account or accounts. Get in the habit of making regular transfers of drawings from your business to your private bank account.

2. Avoid cash, where possible

It's best not to use cash for your business transactions, but if you use it in an emergency, then reimburse yourself using a suitable expense claim (which analyses the expenses between expense categories) so that again, all business transactions are recorded and the GST is safely captured.

Click here for 5 more tips to get on top of your accounting.