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Business Perspective: National Jazz Festival Tauranga
The 53rd National Jazz Festival is back in Tauranga over the easter weekend and we are proud to be sponsoring this amazing event. There will be familiar faces and events as well as an array of exciting new musicians and performers. The community and visitors alike will find entertainment and memorial experiences over the five days of the festival. The festival kicks off with the first of the convert series, a star-studded gala event – Divas with a Twist – at Baycourt. The popular community events return: the Downtown Carnival, the New Orleans...
read moreBusiness Perspective: Podium Podiatry and Footwear
Podium Podiatry and Footwear in the Bayfair Shopping Centre, Mount Maunganui has been operating for just under two years and it is all ready respected as the leading retail provider of podiatry and footwear solutions. And, in March, they have reached another milestone. The founders of Podium, Matthew Fraser and Erin Beeler, the husband and wife team at Eastern Bay Podiatry, have rebranded and relocated their Whakatane practice to open another Podium at 164 The Strand, Whakatane – although the Opotiki and Kawerau branches still operate...
read moreGetting paid 101
Produce, sell, invoice, collect. What a simple process business trading can be. Many businesses have excellent systems in place for the first three aspects of trading, but fall down badly when it comes to getting paid by their debtors. Here are some helpful hints for getting debtors’ money into your bank account. Remember ‘Cash is King!’ Prior to making the sale: Engage your customers and ensure they are familiar with and sign your terms of trade, which for larger transactions should include a personal guarantee and an...
read moreBusiness Structures – Options and Features
We often get asked by clients what sort of structure they should use… and with all things business it depends. There are four main structures used to operate a business. These are:- Sole Trader Partnership Company Trust The type of business structure you choose will affect your taxation position, your personal legal liability, the life of your business, and the availability of capital to establish and operate your business. It is therefore important to make the right choice. Here is a brief overview of the pros and cons of each. Before...
read moreI can’t file my tax return, my goldfish died!
I read an interesting article last week. The UK version of Inland Revenue released a list of the top 10 weirdest excuses taxpayers gave for filing their tax returns late… In New Zealand we are coming up to that time of year where your 2014 tax returns must be filed. Penalties for filing your tax return late range from $50 to $500 plus additional penalties, and interest should you underpay your tax. Have your filed your 2014 income tax returns? The following bizarre, exotic and flimsy excuses have all been used by tardy taxpayers: (2014...
read moreHelp – I am a Trustee… What does that mean?
Often when a trust is set up the trustees who are chosen are close friends or family members, which is understandable, as settlors want someone they know and trust to get the job done. The role of being a trustee can be very confusing for those who are unfamiliar with trusts. Because of this there is a real risk that some decisions made by novice trustees will inadvertently not be in the best interests of the trust or the beneficiaries. One of the benefits a trust confers is asset protection. However this protection can be lost if the trust...
read moreMore Customers Please!
Maybe you have a successful business operating in a highly skilled or niche market, attracting plenty of customers and enjoying good profits. If not, chances are you’ll be constantly looking for ways to grow your business. But how can you do this? Ideally you want a steady stream of customers through your door but that’s a struggle if you operate in a competitive market. You need to instigate strategies to grow your business – either increasing the total number of customers or increasing the number of sales from your existing customers. A...
read moreBusiness Perspective: Gourmet Night Market in Mount Maunganui
The Gourmet Night Market in Mt Maunganui is a community hotspot all summer long on Friday nights in idyllic Coronation Park. With weekly live music and more than 50 gourmet food stalls, a boutique farmers market and dessert aisle, there’s enough variety to satisfy even the most discerning taste buds. This year 14 local businesses have joined the line-up including restaurants Elizabeth Café & Larder and Satori Lounge as well as local roastery Excelso coffee and the newly opened Farm Gate Deli. The gourmet food includes classic kiwi...
read moreEmployee entitlements over the holiday season
The holiday season is often hectic enough without having to determine employee entitlements so we’ve put together some commonly asked questions and answers to assist you during the silly season. Q: What are the public holidays? A: Christmas Day – Thursday 25 December 2014 Boxing Day – Friday 26 December 2014 New Year’s Day – Thursday 1 January 2015 2 January Holiday – Friday 2 January 2015 Q: Who’s entitled to a paid public holiday? A: All employees for whom the day is otherwise a working day will be entitled to a paid public...
read moreAvoiding The Festive Season’s Tax Hangover
At this time of year we often sit back and look at the year that has been – where did it go? A lot of businesses also take this time to thank the staff with gifts and/or a Christmas function, without thinking about the tax implications. Not getting this right could see you face a hangover from late payment penalties, interest and questions from Inland Revenue on other parts of your business. It makes sense to know the rules around entertainment expenditure otherwise the taxman may get upset – and we don’t want that to happen, do we! Let’s see...
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