Elevate CA Blog

  As usual at Elevate CA on budget day it’s all ears on the live stream as Bill English reads Budget 2013.  Here are our first impressions and some initial comment around the tax and business related aspects of Budget … [Read more...]

  There is no sense in paying $1 to save 28 cents, right?  At this time of year, we always get a number of calls from business owners exploring the idea of spending money on expenses their business doesn’t necessarily need in order to get a … [Read more...]

New Zealand tax residents pay tax in this county on their worldwide income.  This is a straightforward rule on the face of it – but what is a New Zealand tax resident? Kiwis remain tax residents until they have been outside New Zealand for 325 … [Read more...]

Would you pay $1,000 today rather than paying $1,667 later?  That’s a question many companies must answer before 31 March. We have a window of opportunity until 31 March 2013 to declare dividends with Imputation Credits (ICs) attached at up to … [Read more...]

  There are a few payroll changes that will affect almost all employers from 1 April.  You will need to be aware of these when you complete your Employer Monthly Schedules (EMS) for pay periods starting on or after that … [Read more...]

Are New Zealand bricks and mortar retailers becoming show rooms for online retailers? Who among us hasn’t browsed around a store doing homework and picking the brains of the sales staff – then gone home and searched out the best price … [Read more...]

The IRD have always used industry benchmarking as a tool to identify businesses that may warrant further attention by their investigation team. But this has previously been a dark art where those outside the IRD have little idea of what the … [Read more...]

The Oxford Dictionary defines “nexus” as “a connection or series of connections linking two or more things.” This is a rarely used word outside smartphone or tax circles.  But it is an important concept for business owners when determining … [Read more...]

Are you a user of an old version of the Accomplish Cash Manager accounting software?  By old, I mean version CM2009 or earlier. If so, you may or may not know that Accomplish’s policy is not to support only the current and three prior versions of … [Read more...]

We are growing fast - and are looking for just the right accountant to join our team.  Who we're looking for? We're looking for a person who is up to speed in the industry right now.  You'll need to have at least two years recent … [Read more...]

  We would be honoured if our clients, professional contacts, BOF members and friends would join us at 4:00pm on 5 December for the "Elevate CA Christmas Party - 2012". If the idea of an accountant's party leaves you searching for excuses like a … [Read more...]

  A:  If you’re negotiating to lease commercial premises for your business, you are now subject to an as-yet-unwritten change in tax legislation.  Read on. Times are tough for many a commercial landlord.  Many buildings are less than … [Read more...]

  Q: When can tax be a positive thing?  A: When it encourages behaviour that makes the world a better place for us all.  In my humble opinion, that is. Tobacco excise falls into this category – it provides a disincentive to smoking, … [Read more...]

  A $100 credit on your next Elevate CA accounting invoice for the first person to correctly answer this question!                   … [Read more...]

  A big Congratulations to Gemma and her husband John!  Gemma and John are expecting a baby boy on 6 October - and they have already named him Charlie. Gemma will be on maternity leave from 14 September.  And the good news is she'll be … [Read more...]

  As usual at Elevate CA on budget day it’s all ears on the live stream as Bill English reads Budget 2012.  Here are our first impressions and some initial comment around the tax related aspects of Budget 2012 …    2:05pm Bill … [Read more...]

We are very grateful to the fantastic clients who we are fortunate to serve.  Without your continued support, there would be no Elevate CA.  We don't take your support for granted - so we'd very much like to know what you really think about your … [Read more...]

The end of the financial year is fast approaching for the majority of businesses. Here are a few areas you may wish to look at now which will help us minimise your tax bill. 1. Trading stock We’re not talking about livestock here, but the … [Read more...]

For a week or so back in July, we figured it might be time for those with floating business or residential borrowing to fix the rates on say half of their debt.  At that time we were seeing June 2011 quarter annual inflation figures well above … [Read more...]

Would a "fat tax" be a step too far?  Could the tax system perhaps encourage Kiwis to be healthier? It already does.  Imagine how many more Kiwis would die prematurely from smoking related conditions if not for the fact that cigarettes are … [Read more...]

What a difference one word makes:   From 1 April 2011, the Employment Relations Act was amended to change the test of whether a particular action by an employer was justified – for example a dismissal.  Before 1 April, the key question was what … [Read more...]

  "What doesn't kill you makes you stronger".  Friedrich Nietzsche famously said that in 1886.  And Kelly Clarkson said it again this year, so it must be true.   The last few years have been tough, but almost without exception our … [Read more...]

  This is a story of a bank and a careless email. Since Alan Bollard reduced the OCR in response to the Christchurch earthquake, three year fixed interest rates on residential mortgages have been somewhere just under 7%pa.  With floating … [Read more...]

  Quickbooks are encouraging users with older versions to upgrade by offering a carrot.  We're not in the business of necessarily pushing Quickbooks in preference to other packages like Xero, MYOB, Cash Manager, Bank Link or the many … [Read more...]

  Employers have until 1 July 2011 to bring personnel files up to date for each employee.  The majority of employers already maintain personnel files for each employee – but many do not meet the new standard under the recent amendments to the … [Read more...]

  As usual on budget day, it's all ears on the live stream at Elevate CA. Here are our first impressions and some initial comment as Bill English reads Budget 2011 ...   2:05pm Bill English is explaining the theme of Budget 2011. This will be … [Read more...]

  Many people have asked how Hayley is getting on - and whether her baby has arrived safely.  Well now we can answer that question.  Maia Lucy Lenihan was born on 7 April weighing in at a whopping 7 pounds 15 ounces.  Mother and baby are … [Read more...]

Business owners will be aware that from 1 April, the 90 day trial provisions have been extended to cover all workplaces.  Previously this provision was available only in workplaces with fewer than 20 employees. But many business owners may not … [Read more...]

  For most of our clients, 31 March is the end of the financial year – and time to start organising your records for the year.  Here is the process for getting your financial statements compiled this year:  Traditionally, accountants … [Read more...]

We'll be completing our review of all QC and LAQC clients over the next few weeks.  From the start of the next financial year, LAQCs will no longer be able to attribute their losses to shareholders. The Government's strategy behind these changes … [Read more...]

  Elevate CA are growing, and we're looking for just the right accountant to join our team.        Who are Elevate CA?  We are new, we are different and we are growing fast.   We are small enough to be nimble - and we are willing … [Read more...]

  If you’re a commercial or residential property investor the stakes are about to get higher in the distinction between repairs and maintenance and capital expenditure.  Repairs and maintenance costs are typically tax deductible.  But from … [Read more...]

  We now know that LAQCs will no longer be able to attribute their losses to shareholders from 1 April 2011.  Now that the draft legislation has been released, we have a much clearer view of how the new rules announced in the budget will look.  … [Read more...]

  The phrase “new normal” has been circulating for a while now to describe the current state of affairs featuring a tougher banking environment and retrenchment of debt laden businesses and households.  The new normal envisages a future … [Read more...]

  A big thank you to the 40 or so business owners and managers in the construction trades who attended the “Building a Better Business in the Construction Trades” conference hosted by Webb Ross >>> on the past two Thursdays.  David … [Read more...]

  The upcoming increase in GST rate means some action for most businesses on the software front.  Typically if you’re using the latest version of your software, any upgrade to manage the change in GST will be reasonably painless.  But where … [Read more...]

  “Advisory boards – What are they and do you need one?”  That was the question posed to the panel at yesterday's Business Owners Forum - and here are some of the points emerging from yesterday’s event: An advisory board is a forum to … [Read more...]

    Foursquare is a mobile application that allows users to connect with friends and update their location.  Users can post 140 character twitter-style tips or comments about the locations or venues they check into.  Users can choose to have … [Read more...]

The rate of GST goes up to 15% on 1 October.  Are you ready?  Here is a quick summary of what you need to know. The IRD will send you the relevant GST 101 form and calculation sheet for your business.  For most businesses, this return is likely … [Read more...]

  There has been welcome clarification of the rules regarding the depreciation of commercial building fit-out this week.  The Revenue Minister released a joint Treasury and IRD discussion paper on Wednesday that said a commercial building … [Read more...]

  Hoax emails have been doing the rounds claiming that the recipient is due a tax refund.  Some of these claim to be from a company calling themselves “NZ Tax Refunds” and others claim to be from the IRD. These emails contain links to a … [Read more...]

  Not so long ago, before the digital era, the printed word was expensive to create.  Back in the day, it may have taken 1,000 journalists, editors, typesetters, printers and the like to publish a daily newspaper.  A dedicated army of … [Read more...]

The 2010 budget signalled an overhaul of the QC regime – and although these changes have not yet been confirmed, they will likely take effect from 1 April 2011. While we have yet to see the proposed legislation, there have been clear signals of … [Read more...]

Only a few days until WordCamp New Zealand on the 7th and 8th of August.  WordCamp is two day conference focusing on anything and everything on and around the WordPress platform. This is a global event that has been held 66 times since the … [Read more...]

Here’s a story that demonstrates how easy it is to get communications wrong - and to produce an unintended and counterproductive emotional reaction. There's a social venture called BrightMind LABS I'm involved with, which released its first … [Read more...]

This is about sustained creativity and innovation.  But first let me contextualise.  A big thank you to the almost 40 business owners who braved the mid winter chill to come along to Thursday’s Business Owners Forum.  As always, there was … [Read more...]