The IRD is in the slow process of transferring its software from one platform to another – the end goal is the automation of large parts of their business and (by inference) our business. Continue reading “Will Robots take over Tax and Accounting?”
What’s Coming Up in 2017
As we know, any predictions are fraught with peril but here’s a roundup of some of the current thinking about what’s happening here and abroad over the next 12 months (with a few random thoughts thrown in for good measure!) Continue reading “What’s New in 2017”
Take AIM (accounting income method)
It’s sometimes rare for the public and private sector views on business (and tax!) to align.
However, Beany, Xero and the NZ government acknowledge the importance of small business to the NZ economy and also the technology changes that small business is adopting. Here’s an excerpt from the recent IRD discussion document:
“The AIM measure announced by the Government proposes that, accounting information prepared by a taxpayer for a period, be used as a basis for calculating the tax liability of the business for that period. The resulting amount would be payable by the taxpayer as a provisional tax instalment.
AIM payments will be generated by the accounting software and authorised by the user, whether a business or its advisors. The user will confirm the amount to pay and then activate the payment for both GST and provisional tax. The calculation and payment of provisional tax will become part of running the business instead of an extra process.” Continue reading “Take AIM”
What’s happening out on the farm?
And how is it affecting everyone else?
Like it or not, New Zealand depends heavily on its farming sector for export earnings and to keep the flow of money passing through our economy. Unlike many other industries, the money earnt on the farm passes out quickly into the regional economy and flows like water from farmer to contractor or service provider to shops.
When the dairy sector is in the dumps, rural spend declines massively and the regions suffer disproportionately. It’s not just about the money either. Farmers go from being saviours of the nation to near bankruptcy depending on factors entirely outside of their control. World commodity prices and the weather are not easily influenced by the farmer on the land. Continue reading “What’s happening out on the farm?”
How to make your mind up about Xero
(in 5 quick questions)
Everyone is talking about Xero and you’ve heard a bit about it. The question is, would it help you and your business? Here’s the Beany questionnaire about whether it would be a good idea for you. Continue reading “How to make up your mind about Xero? 5 quick questions to help you decide”