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Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act)

Posted by on 4:11 pm in Latest News | 0 comments

Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act)

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) came into effect for Accountants on 1 October 2018. The aim of the Act is maintain and enhance New Zealand’s international reputation by the adoption of policies and regulations designed to detect and deter money laundering and the financing of criminal activity, thus contributing to increased public confidence in the financial system both at home and abroad. As part of Legacys commitment to the Act, we must now adopt policies that enable us to assess the...

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CHANGES TO FAMILIES PACKAGE

Posted by on 11:50 am in Latest News | 0 comments

CHANGES TO FAMILIES PACKAGE

If you receive the Families Package (formerly the Family Incomes Package), you may be affected by three changes coming on 1 July. They include:  A Winter Energy Payment to help older people and low income families heat their homes  A Best Start tax credit for families with young children  Increases to Working for Families tax credits Because the changes will be made automatically, you don’t need to do anything. Anyone who isn’t a Work and Income client may need to apply for the Best Start tax credit through Inland Revenue. Boosting Working...

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MINIMUM WAGE INCREASE: 1 APRIL 2018

Posted by on 11:47 am in Latest News | 0 comments

MINIMUM WAGE INCREASE:  1 APRIL 2018

By the time you read this, the minimum wage in New Zealand will have increased from $15.75 to $16.50 per hour. Minister for Workplace Relations and Safety, Iain Lees-Galloway, says the $0.75 rise will benefit around 164,000 workers and their families, and will increase total wages by $129 million per year. “Raising the minimum wage was one of the Government’s top priorities for the first 100 days,” he says, “and we are committed to increasing the minimum wage to $20 by 2021.” The Minister also advised that within the first...

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PRICE HIKE HACKS: . HOW TO MANAGE AN INCREASE WITHOUT LOSING CUSTOMERS

Posted by on 11:38 am in Latest News | 0 comments

The decision to raise your rates is a tricky one. But in the end it’s not the hike itself that’s important, it’s how you implement it. Netflix, for example, put its prices up recently. And while their customers didn’t like it, after a few rumblings, the majority stayed on. So what did this entertainment giant do to make the pill easier to swallow? THEY TIMED IT They were about to release the new season of hit series House of Cards, Stranger Things, and The Crown, so were able to say to their customers: ‘for the extra money, you’ll get brand...

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FBT… SO, WHAT CAN YOU DO

Posted by on 11:37 am in Latest News | 0 comments

FBT…   SO, WHAT CAN YOU DO

For an SME owner, that’s quite a daunting list, and a good reason to talk to your accountant. An expert, independent set of eyes will help you determine what you need to do in all cases, what you don’t need to do, and also how to go about doing it (including creating proper documentation). The value of expert advice is heightened by some of the finer points of FBT legislation. For example, did you know that if an employee takes a vehicle home one evening and returns to work with it the next morning, the laws says it’s been available for...

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CLIENT PERSPECTIVE – Heather Dawson – STORIED

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CLIENT PERSPECTIVE – Heather Dawson – STORIED

Your content, be it website copy, promotional collateral, or social media posts, says a lot about who you are as a business. It’s your chance to demonstrate your values, showcase your personality and establish your point of difference. Your written communications should be engaging, clear and relevant to your audience. In the age of ‘content shock’ where we are bombarded with messaging at every turn, your business needs to invest in producing content which tells a story; something which helps your customers and resonates with them. Poorly...

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THE FRINGE ISSUE

Posted by on 4:05 pm in Latest News | 0 comments

THE FRINGE ISSUE

Given the importance of keeping your PAYE and GST record-keeping and payments in order, it might be tempting to think that Fringe Benefit Tax, or FBT, is a relatively minor thing. But don’t be fooled. In 2017, Inland Revenue created a dedicated audit team to focus on this issue. One of the team’s aims is to ensure employers have the right business structures and documentation in place. And it turns out that many don’t. If this sounds like you, now’s a good time to put things right. Regardless of whether you’re acting correctly or not around...

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FEEL THE LOVE: HOW RAVING FANS CAN ROCK YOUR BUSINESS

Posted by on 4:03 pm in Latest News | 0 comments

FEEL THE LOVE: HOW RAVING FANS CAN ROCK YOUR BUSINESS

You may have heard the term ‘raving fans’. It’s a passionate subset, usually about 10 to 15% of your customer base, who are so in love with your business that they shout it out from the rooftops. They keep coming back, not because it’s convenient, but because they want to. And even if you’ve had a bad moment, they’ll stick with you while others shoot out the door. These people are GOLD, and the very best ambassadors for your brand. So how do you go about reciprocating their loyalty and growing their number? According to global leaders like...

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CLIENT PERSPECTIVE – DAN LACEY CREATIVE

Posted by on 9:51 am in Latest News | 0 comments

CLIENT PERSPECTIVE – DAN LACEY CREATIVE

WHERE SHOULD YOU BE HANGING OUT ON SOCIAL MEDIA? Are you using social media effectively for your business? It’s one of those things that we know we should be doing, but are enough of us using social media effectively? It can be a bit of a minefield due to constantly changing algorithms and fads. Here I take a look at the top four platforms and how to use them in 2018. Facebook The most popular social media platform there is, and the one that is most difficult to keep up with due to constantly changing algorithms. • Business pages no longer...

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NZ TRUST LAW TO BE OVERHAULED

Posted by on 9:49 am in Latest News | 0 comments

NZ TRUST LAW TO BE OVERHAULED

On 1 August 2017, Justice Minister Amy Adams introduced the Trusts Bill to Parliament. This will be the first significant change since the introduction of the Trustee Act 1956. The old Act has been viewed as being narrow in scope, with trust administration being complicated and expensive. Most trusts, like family trusts, business trusts and protective trusts, are set up with a trust deed or other document, like a will. These are known as express trusts. In the new Bill, it expressly states that trustees will have to: Know the terms of the...

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