Blog

Emerging from lockdown will allow a sense of normality. Bring on the simple pleasures of takeaway coffee, McDonald’s drive through and online shopping for non-essential items; things we never dreamed could be on hold. Restarting the economy, albeit in a risk managed way, comes with pressure to not stuff this up and force a return […]

It’s not easy to request payment right now, but it is important to keep cash flowing into your business so you can cover expenses and meet your obligations to others. As with all business dealings right now, a little empathy and a lot of open communication can go a long way.  The following tips might […]

The Government has announced new relief measures to boost confidence and help small and medium-sized businesses get through the COVID-19 crisis. The package includes:  a tax loss carry-back scheme changes to the tax loss continuity rules greater flexibility for taxpayers in respect of statutory tax deadlines measures to support commercial tenants and landlords, and  further […]

A new financial year is upon us and that means that it’s time to check the accuracy of your financial information in your accounting software for the past financial year, and to gather the documentation that we will need to finalise your accounts and file your tax returns. Whilst it’s not exactly business as usual […]

Urgent law changes to the Companies Act seek to give company directors temporary relief from potential personal liability when the business faces significant liquidity problems. The measures aim to keep businesses trading and New Zealanders in jobs by preventing businesses being prematurely placed in administration or liquidation.  The temporary changes include: giving directors of companies […]

Without the 360 degree feedback and annual reviews, that employees get in a corporate business, entrepreneurs can be left out in the cold, not understanding what they’re doing wrong or why their team is not able to achieve targets or success under their leadership. If this is you, you might be asking what you can […]

During the ongoing coronavirus crisis, many sectors are seeing income either disappear completely or drop to dangerous levels. To be able to navigate the future path of your cashflow, you need to start forecasting – so you can map out your financial position over the coming months and can take the appropriate action to safeguard […]

As you will be aware, the Covid-19 pandemic is causing major disruption around the world and is hugely challenging for all of us.  On Monday our Prime Minister Jacinda Ardern announced that New Zealand would move by 11.59pm Wednesday to COVID-19 ‘Level 4’. At Balance we fully understand and agree with the measures to curtail […]

We understand how new this scenario is and the confusion that has arisen for some in relation to the assistance offerings from the Government. Below is a Work and Income factsheet regarding the wage subsidy and leave payments introduced by the Government. If you have any questions please don’t hesitate to ask, we are more than […]

You need to file your GST return at the end of every taxable period (this may be monthly, 2 monthly or 6 monthly depending on the frequency you have chosen for your business – you can check this with us). We can help you file your return and pay by the due date to avoid late […]

In a crisis, the ability for your staff to work remotely could, quite literally, be a lifesaver. But how do you set up your team to become remote workers? And what are the key considerations to think about when working remotely in the cloud? Key considerations of remote working 61% of global companies currently have […]

Whatever your business, it’s likely that Covid-19 will be impacting you. You may be dealing with stock shortages, exporting issues, disrupted travel plans or a sales downturn due to tourist drop off. The government’s business site has useful information on all areas of business: imports, exports, travel and how to develop a workplace response to […]

Small businesses are particularly vulnerable in tough economic times. When sales are slow, there are still overheads and salaries that need to be sorted. Pre-planning and being proactive can help you weather tighter economic periods and allow you to continue to thrive. Make sure you have a clear picture of your payroll, and any other […]

Your income tax return for the 2019 financial year is due on 31 March. (unless your industry has a recognised balance date). Preparing for your return You’ll need to ensure that your business accounts for the 2019 tax year have been settled before you file your return. See our short guide on ‘Preparing for your […]

Growth doesn’t need to mean more risk, more hours and more headaches. It may be as simple as identifying where the opportunities for growth are in your business and industry. Once you’ve done this you can establish what you and your team are going to have to do in order to maximise these opportunities, and […]

Scaling up isn’t just a case of letting organic growth take its course – genuine hypergrowth means achieving accelerated 20% growth over a 3-year period. A big ask for any company! So if you’re planning to make the transition from established startup to ambitious scaleup, what are the foundational elements you need to get right? […]

Once your business gets to a certain size and turnover, there’s real value in assessing the company structure and how to make things more tax-efficient. Setting up a holding company is one way to start creating an ordered and effective group structure. And by moving any surplus cash up from your trading company to your […]

You need to file your GST return at the end of every taxable period (this may be monthly, 2 monthly or 6 monthly depending on the frequency you have chosen for your business – you can check this with us). We can help you file your return and pay by the due date to avoid late […]

For centuries, accounting was all about reviewing historic information – but that only told you about the past, not what was going to happen in the future. If you’re only looking back at past periods and historic numbers, that limits the insights you can achieve into your business. With a backward-looking ideology, it becomes difficult […]

Running your own business takes up most of your time, as an owner – and finding a window in your diary to take a break can be tricky. But having a proper holiday away from the stresses and worries of the business can be incredibly beneficial – helping you to come back refreshed, rejuvenated and […]