Rebecca Skevington

Budgeting is a crucial aspect of running a business, whether it’s a small startup or a large corporation. Here’s why budgeting is so important: 1. Financial Control and Discipline 2. Planning and Strategy 3. Performance Measurement 4. Cash Flow Management 5. Risk Management 6. Investor Confidence 7. Growth and Expansion 8. Long-term Sustainability In summary, […]

In New Zealand, businesses are required to register for Goods and Services Tax (GST) if they meet certain criteria. GST is a value-added tax applied to most goods and services in New Zealand. Here’s why you might need to register for GST in New Zealand: 1. Annual Turnover Threshold 2. Collecting GST on Sales 3.

When it comes to determining whether an expense is tax-deductible, context is everything. What might seem like a straightforward deduction can quickly become confusing when you consider the specific circumstances under which the expense was incurred. This is particularly true when it comes to food and drink expenses. Is Lunch Deductible? Consider a self-employed individual—perhaps

When it comes to managing finances, whether for a business or personal wealth, the stakes are high. Accurate accounting can make the difference between success and failure. While a general accountant can handle basic financial tasks, hiring a specialised accountant offers distinct advantages tailored to your specific needs. Here’s why you should consider bringing a

Starting a content creation business has its own unique set of challenges and opportunities. Here are some key things you should consider: 1. Niche and Audience 2. Content Strategy 3. Branding and Online Presence 4. Content Creation Tools and Equipment 5. Monetisation Strategies 6. Community Building 7. Legal and Administrative Considerations 8. Growth and Scaling

In New Zealand, businesses can claim various expenses to reduce their taxable income. One such category that often causes confusion is clothing. Understanding the rules around claiming clothing as a business expense is essential for ensuring compliance with Inland Revenue Department (IRD) regulations and optimising your tax deductions. General Principles The IRD allows deductions for

Cryptoassets are digital representations of value commonly known as cryptocurrency. These virtual assets function as a medium of exchange and operate independently of banks or other financial institutions. Bitcoin is a well-known example of a cryptoasset. The growing popularity of cryptoassets means taxpayers may engage with them in various ways, including: For tax purposes in

Navigating the repayment of student loans can seem daunting, but New Zealand’s system is designed to be straightforward and manageable. Understanding how repayments work, knowing your obligations, and exploring strategies for efficient repayment can help alleviate any concerns and set you on a path to financial stability. New Zealand’s student loan repayment system is income-contingent,

Have regular clients dropped off the face of the earth? Struggling to gain new business online? Your website could be the cause of your problems. The worst thing you can do with your website is to set and forget. Your site should be regularly updated to ensure it features prominently in search engine rankings. If

During the budget there were some new tax announcements made, the key announcement that impacts almost all Kiwis is the change in personal income tax rates. This change comes into effect from 31 July. The changes to the thresholds are as follows: Personal Income Tax Rates: There were also some other updates made that you