Blog

Turning a profit is at the heart of running any successful company But should profits be the only financial focus if you’re looking to create a stable, long-term business?  Cashflow is the beating heart of your business. Without an even and predictable flow of cash into the company, you can’t cover your overheads, you can’t […]

On April 1, we move into a new financial year for most Kiwi businesses – and the new top personal tax rate comes into effect. For individuals earning over $180,000, that top chunk of income will now be taxed at 39% instead of 33%. This will only affect you if you personally earn more than […]

When someone has just bought from you, that’s a golden opportunity to start building a customer relationship. Take advantage of being top-of-mind and see where it can take you – and ensure you’re offering the best after-sales service to this brand-new customer. Thanking someone for a purchase is usually the start of a cadence of aftersales […]

Applying for funding is tough. Ensure you have all the data to prove the viability of your business, in order to secure the support. We have the experience and tools to help with your funding drive. #smallbizfunding Top tips for successfully securing funding for your business The key enabler for success for many startups and […]

New legislation in NZ tenancy law brings in a number of changes for landlords and tenants. Below are some of the changes: Increasing rent – From 12 August 2020, rent increases are limited to once every 12 months. This is a change from once every 180 days (six months). Required notice periods are changing – If the […]

Should you buy or lease your new equipment? We’ll review your current financial position, cashflow and cost base to decide whether buying or leasing is the right thing for the business. #businessadvice #SmallBusiness But when a critical business asset is required, should you buy this item outright, or should you lease the item and pay […]

The Resurgence Support Payment was launched to assist small businesses to cover expenses as wages and fixed costs, when there is move to Alert Level 2 or above for a week or more. For the 14 February Alert Level Escalation, the last day to apply through myIR is 22 March 2021. For the Alert Level Escalation on […]

From April 1 2021, the adult mimimum wage will increase from the current rate of $18.90 per hour to $20 per hour. There are 3 types of minimum wage — adult, starting-out and training.  The adult minimum wage – applies to employees aged 16 years or older. The starting out minimum wage – applies to workers who […]

At Balance Chartered Accountants ‘better business’ means a sustainable business that thrives now and well into the future, while also looking out for others – profit, people, & the planet.  This applies to the business advice we provide to customers as well as to our own operations. We are set to move to a four and […]

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 […]