We’ve blogged on this before: now we have more detail, we’d like to share with you our analysis of how it will work in practice.
The AIM system comes into effect on April 1st 2018 and if you want to use it, you must register no later than the filing date of your first GST return of the new year. Once in, you must stay in for a full tax year. But it is important to stress at this stage that the new system is not compulsory – yet.
Most small business owners are confronted by a huge array of responsibilities: sales, customer management, recruitment, admin, cash flow and more.
Sometimes it’s hard to focus on the bottom line – making money!
You know what’s in your bank and what’s coming in and going out – but is that enough? Continue reading “3 Tips for Making More Money in your Business”
On April 1 2018 the PAYE system is changing. For the first year these changes will be voluntary, then on April 1 2019 they will be mandatory. Continue reading “Changes to the PAYE system”
The new government are bringing in a series of measures designed at increasing wages in New Zealand.
The new government are bringing in a raft of measures aimed at increasing wages in New Zealand. Some of the new measures are already announced and some are in the pipeline, but all look like they will have the effect of increasing labour costs in New Zealand. This is not bad news as it will also positively affect the lives and incomes of many New Zealanders but small business owners need to be preparing for this now. Beany will be commenting on each new change as it comes up so this is the first of a series – let’s look first at the likely increases to the minimum wage.
From 1st April 2018, business owners will have the option to enter the AIM regime (accounting income method). This is a new proposal from the IRD regarding the payment of provisional tax. Continue reading “Changes to the Provisional Tax System – Accounting Income Method”