Director Liability: Lessons from the Ports of Auckland Case
The Ports of Auckland case highlights the critical importance of health and safety for directors. Failures in duty of care and safety systems led to personal accountability under New Zealand’s Health and Safety at Work Act 2015, which imposes strict obligations on directors to manage risks and ensure workplace safety.
Amalgamation Could Be The Solution
As businesses expand, a common decision is whether to create new companies to accommodate new ventures, risks, products and/or acquisitions. A well-designed group structure enables a ‘parent’ company to create distinct entities that operate independently.
Trusts - The Big Picture
For some, the increase in the trust tax rate from 33% to 39% has prompted them to ask the question – should we wind up our trust?
FBT and Home to Work Travel
A common complaint made by employers is that the amount of time it takes to meet their FBT obligations is disproportionate to the amount of tax it actually generates. This frustration is arguably borne out in the number of mistakes that are often made when calculating the amount of FBT payable.
Protect Your Reputation
Over the last 18 months there have been a number of businesses fall over – which in and of itself has not been surprising given the recent economic climate. However, one element that serves as a warning for us all is the flow on effect of those failures. Not just in a tangible sense, where suppliers or ‘subbies’ are left out of pocket and can’t survive, but where acquaintance businesses can be tarred with the same brush.
The LTC Option
If a company sells a capital asset (e.g. commercial land) and derives a non-taxable capital gain, it’s reasonable to expect the shareholders to want access to the cash. However, the problem often arises that in order for a capital gain to be distributed tax-free, the company needs to be wound up. This is a result of the fact that if a capital gain is distributed in the absence of a wind-up, the distribution comprises a taxable dividend.
The Depreciable Asset
The depreciation rate for non-residential buildings has been reduced to 0%, effective from the 2024 / 25 income year. However, commercial fit-out remains depreciable. This makes the distinction between the two important because it is the difference between not being able to deduct any depreciation at all versus being able to claim a good proportion of a building’s cost as ‘fit-out’.
New Zealand: A Strategic Opportunity for APAC Investors
New Zealand, known for its natural beauty, also offers a robust and attractive environment for business, and can be particularly attractive to investors from the Asia-Pacific (APAC) region. The country’s top position in the World Bank’s Ease of Doing Business index highlights the streamlined nature of its regulatory framework.
Client Profile: Animal Medical Centre
Nestled in the heart of Johnsonville, Northern Wellington,
Animal Medical Centre has been a haven for pets and their owners for 19 years. Proudly independently owned, this veterinary practice embodies the belief that "pets are a beloved part of our lives."
The all-rounder finds her calling: Alix Dalzell’s Journey
Alix Dalzell’s career story provides reassurance to any high school student who does not have an answer when someone asks, ‘what do you want to do when you grow up?’
New Zealand's Growing Trade Ties with ASEAN
New Zealand's trade relationship with the Association of Southeast Asian Nations (ASEAN) has been significantly bolstered by the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA). Since its implementation in 2010, AANZFTA has paved the way for enhanced economic cooperation and mutual growth between New Zealand and ASEAN member states.
Impact of the Changes in Marginal Tax Thresholds
For the first time since 2010, personal tax rate thresholds will change from 31 July 2024. The change was announced as part of the 2024 budget. When personal tax thresholds are not regularly adjusted to take into account inflation or wage growth, individuals end up paying a higher percentage of their income in taxes over time. As such, adjusting these thresholds arguably reverses past tax increases.
New Product Lines
It is important to regularly ask whether you are providing the products that your customers want and whether there are any new products that you could provide to ensure you are evolving with changing times as you look for the next income stream.
Donating Trading Stock
What was a temporary tax concession relating to donated trading stock has now become a permanent one thanks to the enactment of the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Act 2024 on 1 April 2024.
Employee Share Schemes
For businesses that trade through a company, circumstances might arise in which the shareholders consider selling a minority stake in the company to a key employee or group of employees. This could be to ensure that key talent is ‘locked in’ for the long term, as a means of succession if the existing shareholders are looking to wind-down or simply as a means to link effort to reward.
Non-BAU Transactions
BAU is a phrase that is used to describe “business as usual”. It is a good barometer of whether anything strange or unusual has occurred or whether things have been BAU.
Inland Revenue Activity
After a relatively quiet few years through the Covid pandemic, Inland Revenue’s (IR) audit activity has slowly started to increase over the past few years.
Kaibosh Food Rescue
When you think of a logistics company, your mind might wander to trucks, warehouses, and a lot of paperwork. But Kaibosh isn’t your ordinary logistics operation.
Balancing the Benefits and Risks of the Government’s Fast-Track Policy
The recent modifications to the government’s fast-track policy have sparked significant debate among business leaders, policymakers, and the broader public. As these changes attempt to strike a balance between accelerating infrastructure development and maintaining stringent environmental and community safeguards, it is crucial to consider the implications for medium to large enterprises across various sectors.
Stay Ahead: Don't Miss Your AML Audit Deadline!
Finalising your Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) audit before the due date is crucial for all New Zealand reporting entities. The importance of meeting this deadline extends beyond mere compliance. Don’t let it affect the integrity, reputation, and operational efficiency of your organisation.
Government Reverses Interest Deductibility Limitations
With the new Government now firmly settled in, legislation has been passed which reverses the interest deductibility limitation rules that were introduced by the previous government in 2021.
Charities Deregistration Tax on Assets
A recent law change has been passed by Parliament impacting charity deregistration tax rules.
When a charity is removed from the Charities Register, they may need to pay de-registration tax.
GenAI – A Leap Forward
Artificial intelligence (AI) is the new buzzword at the moment, with business leaders touting its importance and the significant impact it will have on the way we conduct business. The reality is that AI has been around for a while, but in the past few years has taken a great leap in terms of its usefulness and accessibility for the general public.
Incorporated Societies Webinar Recap
Jackson Russell was pleased to host a free short webinar to help you understand how the new Act will affect incorporated societies and what needs to be done to re-register by 5 April 2026.
Discover Moore: Secondment adventure to Moore Japan
Travelling the world or adventure might not be the first things that come to mind when choosing a career in professional services. However, for Jonathan Naysmith, Assistant Audit Manager at Moore Markhams, it was front of mind when he started looking for the right start to his audit career.
Make Waste History - Client Profile
We recently caught up with our client Vinnie Callister, the founder of event waste management company
Waste Wizards, who has recently embarked on a new venture with the launch of his charity
Make Waste History. This initiative aims to address the various costs associated with waste in New Zealand, beyond just the financial aspect.
Changes to the Residential Property Bright-line Rules
Along with changes to the interest deductibility rules, legislation has been passed which repeals the current bright-line tests, replacing them with a new (or old) 2-year test.
Automation and Accounting
All too often we get into a routine without stepping back and considering why we are doing things. The same goes with our accounting systems and processes. Your finance team is probably busy keeping on top of their day-to-day workloads but has consideration been given to how productivity can be improved through the use of readily available software?
Changes to GST for the Platform Economy
In March 2023, legislation in relation to the platform economy was passed, affecting the GST treatment of services made through an electronic marketplace from 1 April 2024. We saw something similar back in 2019, where the GST rules on imported goods were amended to treat operators of online marketplaces as liable for returning GST, as opposed to individual sellers. Now the rules are being expanded to include listed services, such as accommodation, ride-sharing services and food delivery services.
Budget 2024 - Our View
The New Zealand 2024 Budget was handed down on 30 May at 2pm.
The Budget for 2024 demonstrates fiscal responsibility, provides long-awaited tax relief for 83% of New Zealanders, and allocates funds towards enhancing frontline public services for improved outcomes.
Rollover Relief or Grief?
The main change is that the bright-line period will now decrease from 10 years for existing properties or 5 years for a new build, to 2 years which applies to disposals on or after the 1 July. Rollover relief rules applying to bright-line transfers of residential land have also had a complete makeover, with the new criteria applying from 1 July.
De Facto Relationship or Not?
The Working for Families Tax Credit (WFFTC) is a notoriously complex scheme when it comes to determining eligibility and quantifying entitlement. This leads you to wonder how well the scheme is policed by Inland Revenue, and whether fraud is able to ‘fly under the radar’.
Beware of Deemed Dividends
The concept of what is a “dividend” is very broad and starts with the default proposition that any transfer of value from a company to a shareholder is a dividend. That concept includes the simple scenario of an interest free loan to a shareholder or a person associated to a shareholder; which can also include loans between companies.
A Flexible and Supportive Work Environment
Stevie Mark’s journey with Moore Markhams is a testament to the flexibility of the network, giving individuals the opportunity to work abroad, whilst pursuing their travel dreams.
Scott's Journey with Moore Walker Davey Searells
Having worked in accounting for 15 years and for the largest privately owned travel group in New Zealand, Scott returned to public practice accounting in 2020. “I missed the people side of public practice accounting, being able to help clients directly, having a real impact on their businesses and their lives.
Lucan’s journey to success
Meet Lucan Bartlett, our recently promoted Associate. Lucan’s journey to success in the field of accounting is nothing short of inspiring.
Professional Evolution: A Journey to Partnership at Moore Markhams
On the eve of his promotion from Associate Partner to Audit partner, Stuart Hansen reflects of the importance of Shared Common Humanity and Business Acumen to thrive in professional services.
1st April 2024 Payroll Changes
With several payroll changes coming 1st April 2024, it’s important to understand the changes and how they will affect your business.
Disappointing News for Property Investors
The Government has chosen to delay the phasing out of the interest limitation rule for residential property investors, as outlined in the coalition agreement between National and Act parties.
Clarity Around Over-Taxation of Low-Earning Trusts
The Hon Nicola Willis, Minister of Finance, has recently unveiled proposed amendments to tax legislation aimed at rectifying the over-taxation of low-earning trusts.
Freeze Dried Foods (FDF)
The story of Freeze Dried Foods (FDF) stands out as a testament to hard work, dedication, and strategic partnerships.
End of Year Write-Offs
As increasing interest rates have bitten and with industry sectors such as retail and construction not performing as strongly, some businesses are struggling. As the end of the financial year approaches, now is a good time to assess whether any of your accounts receivable need to be written off as ‘bad’.
Extracting Cash Tax-Free from a Company
For 99.9% of the time, New Zealand companies are incorporated to operate a business and derive income.
Trust Disclosure Regime
After the introduction of the Trust Disclosure rules in March 2022, in November 2023 Inland Revenue released a high-level summary (in the form of a 40-page report) of insights from the first year of reporting. While tax advisors and clients alike may have begrudgingly completed the disclosures initially, the statistics may prove to be interesting.
Laura Fergusson Trust
The Laura Fergusson Trust is an independent charity providing residential, rehabilitation, respite and recreational services for adults with physical or neurological impairments.
New Wayz Consulting
In the dynamic landscape of the pharmaceutical manufacturing industry, New Wayz Consulting has emerged as a trusted boutique consultancy.
Dividends – Get the Basics Right
When the top personal tax rate for individuals increased to 39% from 1 April 2021, it was not surprising to see an increase in the number and quantum of dividends declared by companies (owned by individuals) in the lead up to the change.
Covid Fraud
Given the necessity of providing fast relief, the wage subsidy scheme provided during COVID in NZ was largely based on trust. Today, MSD operates a Wage Subsidy Integrity and Fraud Programme aimed at ensuring the integrity of the payments and who received them.
Research & Development Regimes
New Zealand currently has two different tax concessions aimed at encouraging research and development (R&D). Namely, the Research and Development Loss Tax Credit (RDLTC) and the Research and Development Tax Incentive (RDTI).
Tax Pooling & Provisional Tax
For a standard 12-month year, provisional tax is due in three instalments. The instalments generally fall on the 28th day of the fifth, ninth and thirteenth months. However, this is varied in certain situations.
Australia’s Tax System Compared
With the recent inflation driven surge in the cost of living, apparent increase in crime and seemingly constant complaints about the education and health systems, some New Zealanders are considering packing up shop and moving across the ditch to Australia.
New Business Payment Disclosure Regime
The Business Payment Practices Act 2023 (‘the Act’) was enacted on 26 July 2023. It will require certain entities (‘reporting entities’) to publicly disclose specific information about their payment practices.
Succession Planning for Legal Firms
Succession planning is an often underestimated yet critical component of a legal firm's long-term success. While legal professionals are primarily focused on providing exceptional legal services and growing their client base, it is equally essential to have a well-crafted succession plan in place.
Valuing Interests in Law Firms
As Chartered Accountants, we are often tasked with the responsibility of evaluating and appraising various businesses and assets.
New Chairman Announcement
We are pleased to announce Sam Bassett has taken over as Chair of Moore Markhams New Zealand.
Getting in Control of Your Inventory
As a manufacturing or product-based business, efficient stock management is a big part of running a smooth operation. But the way we manage stock and inventory has changed radically in the past decade, in no small part due to the evolution of inventory technology.
Plain English Guide to Cashflow
Why is cashflow so central to good financial management? Here's our plain English guide.
What Makes You a Good Entrepreneur?
Do you dream about starting your own business? And, can anyone become an entrepreneur? Let's take a look at what makes a good entrepreneur.
Understanding Your Profit and Loss Statement
Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure.
Are you paying too much tax on interest earned from your term deposits?
In April 2021 the top marginal tax rate was lifted from 33% to 39% for individuals with taxable income over $180,000. More recently the Government has announced that the tax rate for trusts will also go up to 39% from April 2024, and both Labour and National plan to go ahead with this change. This 39% tax rate will apply to all taxable income of the trust.
Risk & Good Governance: Safeguarding Organisational Success
In today's dynamic business landscape, risk management and good governance have become paramount for organisations striving for long-term success and sustainability.
NFPs, Charities and Moore Markhams
Andrew Steel, an audit partner at Moore Markhams in Wellington, emphasises the tremendous importance of not-for-profit organisations in society.
Árbol: Paving the Way for a Greener Future
Meet Árbol, a locally owned and operated construction company that is making waves in the industry with their commitment to sustainability
39% Trust tax rate
On 18 May 2023, the government introduced the Taxation (Annual Rates for 2023-24, Multinational Tax, and Remedial Matters) Bill. The Bill includes draft legislation that will see the trust tax rate increase from 33% to 39% from 1 April 2024, thereby aligning it with the top personal marginal tax rate.
GST registration checks
A standard data policing check completed by Inland Revenue is to review taxpayer GST filing patterns to identify taxpayers that are GST registered, but perhaps shouldn’t be.
Leaky home repairs concluded as not deductible
The leaky homes crisis represents one of the most severe problems faced by New Zealand’s property sector and continues to cause stress and anxiety for those affected. Adding to the uncertainty for rental property owners has been the question of whether repair costs are immediately deductible as ’repairs and maintenance’ (R&M).
Tax policy from two sides of the political aisle
Given that either Labour or National are likely to enter into coalition agreements of some form with the Green Party and Act, respectively, and the tax policies of the two main parties are more ‘vanilla’, it is worth reviewing the tax policies of the two minor parties as this is where unexpected change may come from.
Tax ourselves out of recession?
The buoyant covid subsidy funded days are behind us, New Zealand has entered a ‘technical’ recession. This was reinforced by the recent announcement that New Zealand’s corporate tax paid was almost 11% down in the 11 months to May relative to Government expectations.
Staff Incentives: How to Engage Staff in a Changing World
In today's fast-paced and competitive business world, it is crucial to recognise that behind every successful organisation are its dedicated and talented employees.
SUSTAINABLE BUSINESS IS SMART BUSINESS: ESG WEBINAR
ESG has become the topic of the day and with recent developments the spotlight on sustainable business practices has become much brighter.
The Power of Continuous Development: Staying Ahead in the World of Professional Services
Continuous development is essential in the finance and accounting world to stay credible and excel in the profession. At Moore Markhams, we prioritise ongoing learning to navigate regulatory changes, enhance technical competence, nurture industry expertise, foster innovation, boost credibility and trust, and attract top talent. By investing in our staff's growth and staying ahead of the curve, we solidify our position as a trusted partner in our clients' financial journey.
Trustee tax rate increasing to 39%
The Budget 2023 announced a key change increasing the trustee tax rate from 33% to 39% from the 2024/2025 (generally 1 April 2024). This change is aimed at improving the integrity of the tax system by aligning the trustee tax rate in line with the top personal bracket of 39% which was introduced from 1 April 2021.
From Intern to Manager
Tom Offen, a Manager at Moore Markhams Otago, shares his story, starting as an intern and progressing through the ranks. Read on as he sheds a light on his journey, the diverse range of clients he works with, and his passion for the accounting profession.
Journey to Accounting: A Passion for Numbers and a Thriving Career at Moore Markhams
In this interview, Katrina Hyslop shares insights into her transition to accounting following a bold career move, the aspects she loves about working at Moore Markhams, and her perspective on the future of the accounting profession.
Budget 2023 - Our view
In the shadow of Cyclone Gabrielle, this year's budget focuses on cost of living and cyclone and flooding recovery, with the sights being shifted and narrowed down on skills, science and infrastructure to help grow the economy and make it more productive and secure.
$5 prescription charge axed
Good news for community pharmacies, as Budget 2023 removes $5 co-payment.
New Zealand's only pair of Snow Leopards arrive at Wellington Zoo
Wellington Zoo is a not-for-profit conservation trust that cares for over 500 different animal species including large animals such as elephants, lions, tigers, right down to tarantulas.
FBT on motor vehicles refresher
Calculating Fringe Benefit Tax (FBT) on motor vehicles can be complex, due to the various permutations that can exist depending on the use of the vehicle, its type and the approach adopted by the employer. As a result, it is very common for businesses to get the calculation wrong.
Proposed amendment to directors’ duty
One of the fundamental director’s duties within the NZ Companies Act 1993 (‘the Act’) is to act in good faith and in what the director believes to be the best interest of the company. This has traditionally been interpreted to mean decisions should be aimed at maximising shareholder returns.
Environmental correctness
The call for action regarding climate change and mitigating man’s negative impact on the planet is not new. However, there has been a shift in the last few years. It has moved from being a focus of ‘greenies’ and the ‘young’ to being accepted by the mainstream population as something that can no longer be ignored.
Deductibility of holding costs for land
On 31 March 2023, Inland Revenue released a draft interpretation statement (PUB00417) addressing the deductibility of land holding costs - namely, interest, rates and insurance - and the relevance of whether the land is taxed on disposal. How will this affect you?
North Island flooding events 2023 tax concessions
In response to the adverse weather events that hit in January and February this year, a number of tax concessions were released on 14 March 2023 in an attempt to provide some relief to those who were impacted.
APAC Mid-market M&A Report Q3 | 2023
Mid-market M&A remains strong despite economic volatility
A nudge gets Abby’s career off the ground
Abby Martin from Whanganui wanted to stay in Wellington after she completed her B Comm degree for the career opportunities a big city can provide. Now her career is underway with our Wellington firm. We share how that came to be.
Growth is aspiration of new Associate
Stuart Hansen has been appointed as our Auckland firm’s newest Associate. After leaving a career as a paramedic, Stuart decided he wanted his new role to lead on to management and ultimately partnership. He is definitely on his way.
DG Law | Moore Markhams the right match
When Auckland’s DG Law sought an accountancy firm with its finger on the pulse of the legal industry, Moore Markhams Auckland was the obvious choice.
ICHC | Markhams move a win for chaplain provider
A switch to Moore Markhams Wellington has given ICHC improved, comprehensive financial support as demand for its chaplaincy services in hospitals remains strong.
Subdivisions, income tax and GST
We explore a recent Inland Revenue decision on whether the profit from a subdivision was subject to income tax and GST.
NZ’s provisional tax regime explained
Between concessionary changes enacted over recent years and the option of using tax pooling, the days of incurring large interest and penalty charges with Inland Revenue are in the past.
Residential property – A class of its own
There is little doubt that New Zealanders’ passion for investing in residential property will survive despite the tax treatment of residential rental investments increasingly becoming a tangled web of complexity.
Employers need to get creative to attract and retain staff
The labour market is tight and seems to be getting tighter with each passing month. Recruitment for staff is challenging. What is driving it? Is it a NZ issue only? Is there a wider global issue at play?
Year-End is looming – are you prepared?
An important date for many taxpayers in New Zealand is 31 March. And for many, the end of the financial year can be a very stressful one but it needn’t be. Here’s how to minimise stress and maximise efficiency.
Kiwi kids ‘sleeping tight’ with Moore Markhams help
Dreams look very different when you’re sleeping on the floor. Too many Kiwi kids sleep on the floor or chairs or on couches. Others share beds and illnesses. Moore Markhams is proudly supporting Variety – the children’s charity with 37 bed packs. Can you help too?
Review the year that's been and plan for the year ahead
Conducting a past-year review with an experienced advisor will provide valuable insights for this year's goal setting. What will you do differently this year to enable your business to thrive?
The importance of goodwill in your business
Building goodwill adds value to your business. And potentially gives you a competitive advantage. Here’s five key ways to improve goodwill in your business, and how this adds to the value of your company.
Fair Pay Agreements: what do you need to know?
The Fair Pay Agreements came into effect on December 1 – what is it, and what will it mean for your business?
Five goal-setting tips for 2023
Effective goal setting is what will help you maximise your achievements in 2023. Our 5 goal-setting tips will help business owners reach new highs.
New Associate combines two roles
Nikki Lester has been appointed as our Christchurch firm’s newest Associate. Nikki joined Moore Walker Davey Searells in 2007 and has worked her way through the ranks to her latest appointment, which she combines with her current team management role. Learn more about Nikki’s promotion here.
The employees’ market - what are the expectations?
Expectations around employee benefits are changing, with the norm shifting in the employee’s favour. For many, a 9 to 5 workday and mandatory workplace attendance are a distant memory, with flexible hours and working environments considered a bare minimum.
Did COVID come with a silver lining for some pharmacy businesses?
COVID provided a welcome boost financially for many of New Zealand’s community pharmacy businesses. This is the key finding of the Moore Markhams 2022 New Zealand pharmacy benchmarking survey.
Upheaval is the new normal
Covid changed manufacturing and supply chains and there is no going back. Disruption is here to stay.
Driscoll Motors | A century of service
Wellington’s Driscoll Motors will clock up 100 years in business next year, owing to its adaptability and proud history of strong customer service. Moore Markhams Wellington has helped them on that journey.
Update - GST on farmhouses and holiday homes
Is your farm house the ‘headquarter’ of the farm? Is your bach, or home office GST-claimable? Are you up with the rules?
GST 101 - common claiming mistakes
New Zealand’s Goods and Services Tax (GST) system is often praised for being a simple broad-based tax. But this doesn’t mean mistakes don’t happen. We outline some of common ones.
FBT – does it function well as intended?
A recent Inland Revenue report found that although FBT is performing its task of taxing non-cash benefits and hence supports the tax system, it was inconclusive as to whether FBT functions well. We explore this further.
Rollover relief for close relationship transfers
Parents wishing to assist their children with buying residential property should carefully consider the ownership structure and alternate options before settlement. Inland Revenue has issued a draft interpretation regarding bright-line application in family and close relationship transactions.
How to meet your goals during a global slowdown
Are your goals still relevant during a global slowdown? Talk to us about reviewing your goals, finances and business plan, so you’re ready to meet the economic ups and downs.
New employee perk? Public transport fares
Could your employees benefit from subsidised public transport fares? Fringe benefit tax is soon to be removed from public transport passes, making them a more cost-effective option as an employee perk.
Key numbers to focus on in your business
What are the key reports to focus on in your business? We'll show you how to track performance, take action and prepare your company for surviving the new business normal.
Calculating the real cost of employee perks
Rewarding your team with vouchers or trips? Providing a car or a gym membership? FBT can be tricky, so make sure you’re calculating the true cost of employee perks.
Retain your talent through profit sharing
Retain staff and attract new talent with profit sharing – it’s a win-win way to incentivise your team and build your business.
What is JIT and is it dead?
Is just-in-time (JIT) manufacturing dead? We’ll help you breathe new life into your processes and find ways you can save costs and improve cashflow.
Digital age for cash flow processes
When economic times are tough, it helps to be in control of your cashflow. We explain how to improve your cashflow – and how this helps you run your business through tough times.
Drive to succeed pushes Jess at work and on her bike
Two weeks of work experience during term 3 school holidays in 2021 has led to a career in accounting for Jess Johnstone.
First female director for our Christchurch firm
Moore Walker Davey Searells, Christchurch is delighted to announce that
Rachael Reedy has joined John Hendry, Matt Donaldson, Mike Ansett, Mike Ansett and Darren Hayward as a director of our firm.
Bottom line benefits of adopting ESG practices
Companies that have embraced the ESG (environmental, social and governance) agenda in recent years have enjoyed a significant boost to the bottom line as well as wider strategic benefits, according to new research by Moore Global.
The new Incorporated Societies Act – 100+ years in the making
After 114 years, the legislation around Incorporated Societies in New Zealand has been updated. Moore Markhams audit partner,
Andrew Steel has reviewed the legislation and shares the key changes to be aware of.
5 quicks wins for a greener business
How green is your business? You’ve got to be sustainable if you want to keep up with changing consumer trends – so here are five quick ways to get started.
Shortening your cash conversion cycle to free up cash
Covid-19 highlighted the importance of managing your cash conversion cycle and reducing how long cash is tied up in the sales process. More money won’t solve your problems if you don’t manage your cash conversion cycle!
5 online tools to help you save money
Looking for ways to spend less as inflation keeps rising? Here are five free online tools to help you trim your outgoings and manage your money successfully.
Build-to-rent tax break – is it unfair on mum and dad landlords?
Build-to-rent developers will get a tax break – is this unfair to private landlords? We look at what makes this new asset class quite different from the everyday rental property.
Understanding Your Profit and Loss Statement
Would you like to know more about the relationship between costs and revenue to make better business decisions? Book a session today to examine your financial reports with an experienced business advisor.
Looking to sell? Add value to your business prior to an exit
Thinking about selling your business? Before you put the company on the market, it’s vital to go through a process of adding additional value to the business. We’ll help make sure you're running a tight ship.
How to turn the supply chain crisis into a business opportunity?
The supply chain crisis might create opportunities for your business to fill a supply shortage when your competitors can't. Become the supplier that saves the day!
One-off public holiday - what rules apply?
To mark the death of Queen Elizabeth II, there will be a one-off public holiday on Monday, 26 September. What do business owners need to know about this unexpected day off?
What are Technical Decision Summaries and do they create information transparency?
How can Inland Revenue’s publication of Technical Decision Summaries help your business? And what exactly is TDS? We share more.
Let us introduce you to the metaverse
The metaverse is a topic that has gained a lot of traction recently, particularly with Facebook’s rebranding to ‘Meta’ and its announcement that it will now be especially focused on creating its ‘metaverse’. What is this and what impact will it have?
Moore Markhams match in Christchurch
Meet Craig and Bailey, Moore Markhams Big Brothers Big Sisters match in Christchurch.
Computer Recycling | Turning e-trash into treasure
Auckland firm Computer Recycling is primed to capitalise on the flourishing electronic recycling market, following a multi-million dollar technology investment.
Audio Workshop | Firm’s flexibility cushions Covid’s blow
When you design and install diverse, tailored audio-visual systems for a living, a bit of creative problem-solving becomes par for the course. And it’s that nimble and flexible approach that has helped Wellington firm Audio Workshop soften the blow of Covid while continuing to grow turnover and profit.
Sick leave balances taking a hit
Whether it’s a cold, flu, a tummy bug from day-care or the notorious C-word, the amount of sick leave being taken seems higher than normal. How does NZ stack up against other countries?
Attribution vs market salary – what are the rules?
Last year’s introduction of the 39 percent tax rate for individuals who earn over $180,000 has reignited Inland Revenue’s interest in the income attribution and market salary regimes. But what are the rules?
Moore Markhams mentoring potential in kids through matches
Believing that potential lives within every young person, Moore Markhams has teamed with two Big Brother Big Sister branches -
Hawke’s Bay and
Christchurch - to sponsor an annual match between a volunteer mentor and a child in each region.
Rollover relief – does it go far enough?
Residential property acquired after 27 March 2021 is subject to a 10-year bright-line period, or 5 years if the property qualifies as a ‘new build’. To alleviate the risk of property transfer being caught with unfair taxes, some rollover relief is available.
Shares held in foreign companies 101
There are common misconceptions in relation to how portfolio shareholdings in foreign companies are treated for tax purposes. We correct the misconceptions.
Depreciation on buildings that are mixed use clarified
Inland Revenue released a 51-page interpretation statement in July that while appears logical enough, includes a surprising statement.
New Associate, Sam Gowing and his clients welcomed
A pragmatic attitude and a broad professional network are two of the strengths Moore Markhams Otago’s newest Associate, Sam Gowing brings to benefit his clients and the firm. Sam has joined our Dunedin office with skills to help meet the growing need from existing and new clients.
A radical new agenda for banks
The finance industry has seen more innovation in the last five years than in the previous five centuries – and it has become clear that many of the traditional banks are ill-equipped for the new world order it heralds. We share our thoughts on the future of finance.
OE experience with Moore Japan
Working from home takes on a whole new meaning for Moore Markhams Wellington Audit assistant manager, Jonathan Naysmith.
Learn how to make good business decisions
Making good business decisions is the secret to a successful start up. We’ll help you set up the best possible management information and will guide each step of your start up journey.
Setting up the compliance foundations for a successful business
Have you thought about the compliance needs of your business? We’ll explain the legal, accounting and tax requirements and how you set the right foundations.
How will it impact you if house prices drop by 15 percent?
With house prices predicted to fall by 15 percent, what will this mean for you? Is this prediction likely to be accurate, and what will it mean for homeowners?
How to write a mission statement
Do you know WHY your business does what it does? A mission statement can set the best possible foundations for your business.
Suits out, pets in - The new consumer basket
Men’s suits have been part of the typical consumer basket since 1947 – but now they’re out. What’s in? Sports bras, meat-free sausages and pet collars. It’s a fascinating insight into how our spending habits have changed.
How to get in control of your spending
A few simple steps can help to cut down your business expenses. We’ll help you spot the areas where costs can be cut and use the latest tech to manage the numbers.
A charitable world
There are over 28,000 registered charities in New Zealand – organisations that work to relieve poverty, advance education, advance religion or be beneficial to the community. But some examples make you wonder.
How to navigate the best routes to finance
Do you need extra funding to take the next step in your business strategy? We’ll help you review the lenders and finance products – so you have the best possible routes to finance.
Overseas workers could fill a vacancy at your business
With New Zealand experiencing a critical labour shortage, could you employ overseas workers to fill critical shortages at your business? Here’s how much it might cost you, how long it takes, and how to figure out if it’s worthwhile.
Scaling up your business and workforce, here’s how
Scaling up your business isn't about steady growth over time. It's about having a clear strategy for quickly expanding the business to achieve full-scale hypergrowth. Here’s some tips to show how to achieve this.
A bold new direction for travel
Robots in restaurants, apps for everything: hotels exploiting technology to beat staff shortages and drive efficiency.
Tax and international advisory expertise acknowledged in promotion
Murray Tuck, Moore Markhams Auckland has been promoted to a unique Senior Manager – Tax and International Advisory role that acknowledges his particular expertise in answering complex tax and international transactions. We share more about Murray’s skills.
Budget 2022 - Our view
It could be said that the Wellbeing Budget 2022: A Secure Future announced on May 20, was a B budget – balanced, backwards, big spending, being some of the words used to describe it.
Covid-related employee costs clarified
Inland Revenue has sought to clarify the deductibility of employee-related costs incurred due to the Covid-19 pandemic. We share more here.
Jessica Buddendijk - van Horrik QSM | Passion powers aged-care advocate
After 37 years as a worker, educator, advisor, and advocate in aged care, Jessica Buddendijk-van Horrik could be forgiven a slight cooling off in her passion for the sector. But she remains energised and devoted to her vocation, receiving an Honorary Queen’s Service Medal in recognition of her contribution.
Insulmax Insulation | Insulation buy a ‘no-brainer’
When Conan Mitchell bought Insulmax Insulation Otago last year, no hard sell was necessary. It was a business he knew inside out; Conan was the first Insulmax employee in New Zealand when it launched seven years ago and also helped establish the other eight – independently owned – Insulmax businesses around the country.
Changes to trust disclosures to prevent under-taxation
Two changes have recently surfaced in relation to trusts and the disclosure of trust information. Inland Revenue intends using the information to determine how trusts are being used and measures to prevent under-taxation from the use of trusts.
Is it a ‘New Build’? The new legislation summarised
The residential bright line period has increased from 5 to 10 years with a denial of interest deductibility for residential investment properties. The new legislation is complex and difficult to interpret because it has been written with numerous potential fact scenarios in mind.
Don’t get caught by an Inland Revenue scam
Savvy scammers know that Kiwis expect to receive correspondence from Inland Revenue over the next few months. Beware emails or texts that appear to have come from IR to con you out of money.
Record-keeping requirements simplified - learn what’s required
New legislation was passed at the end of March to improve and modernise GST invoicing and record-keeping requirements. Learn what’s involved with TSIs, SCIs and more.
Finding now on audio thanks to Moore Markhams
Moore Markhams is helping young adult members of Blind Low Vision’s Accessible Library enjoy David Hill’s novel, Finding. We’ve supported the recording of the New Zealand author’s book as part of our national Charities of Choice initiative.
Taxation of capital - does NZ have a capital gains tax?
Inland Revenue released a government discussion document that contains a proposal that represents a further erosion of the principle that New Zealand does not tax capital gains. What’s proposed if you sell shares in a company?
Moore Markhams: Supporting Alisha’s career during pandemic
Covid-19 pandemic constraints meant Alisha Kumaran only got to meet all her firm colleagues three months after starting with Moore Markhams Auckland. Yet despite this, she felt totally supported as she embarked on her accounting career.
Moore Markhams: getting George’s career on track
George Nettlingham is pleased with his move to Moore Markhams Hawkes Bay. “I’m learning all the time and really enjoy being involved in the bigger picture of what we’re trying to achieve for a client."
Be broadminded and look beyond the usual suspects when choosing a successor
Succession planning is the latest aspect of business life where the ESG (Environmental, Social, and Governance) agenda is having a profound impact. Handled correctly, it could resolve many of the thorny issues company owners face in attracting talented young staff and promoting leaders of the future.
New Associate enjoying global growth opportunities
Moore Markhams Auckland’s new associate, Anson Lam is thriving on the opportunities her role is providing her. Anson was appointed an associate of the Auckland firm in April.
How to chase invoices without annoying your clients
As a small business owner, trying to chase payments while not annoying your clients can be a challenge. Here are five tips for getting those outstanding invoices paid while maintaining good relationships.
What’s your business worth?
What’s your business worth? Figuring out a dollar value means factoring in lots of variables, but earnings and assets are the biggest value-adders.
Outlining your ideal customer pays benefits
Do you know who your start-up’s ideal customer should be? We’ll work with you to define your customer audience and how it impacts your business strategy.
Price not the most important in customer buying decision
Despite what many business owners think, price isn’t the no. 1 factor in customer decision making, particularly in service businesses. Build a strong relationship, be accessible, be proactive, and price becomes less relevant.
Should you sell your rental property?
After a boom year of house price growth, is now the perfect time to sell your rental property and cash up? We look at the reasons to exit the market – and the reasons to keep holding.
Are you getting a slice of the online retail action?
Online shopping is hitting new records, growing dramatically, and gaining new users. Is your business getting its slice of the online pie or do you need to invest more in your online presence?
Tips to get your start-up ready to roll
Do you have all the operational foundations of your start-up ready to roll? Talk to us about kicking off your new business and being ready for your first sale.
Clamp down on top tax rate avoidance by Inland Revenue
Do you earn more than $180,000 in taxable income? Inland Revenue is proposing changes that will make it much tougher to avoid paying the full 39 percent top tax rate.
Auckland auditor keen to tackle ‘hot stuff’
Stuart Hansen, Moore Markhams Auckland and Christchurch senior audit manager, has been a member of the Devonport Volunteer Fire Brigade for the past three years and sees it as a great way to give back to his community.
Accounting team growing from strength to strength
Moore Markhams Queenstown was established three years ago with a team of two. Now the team equals five to meet the growing demands of an increasing number of business clients.
New disclosure rules for trusts from 2022 income tax year
There are new standards for preparing minimum requirement financial statements for trusts that will apply from the 2022 income tax year (from 1 April 2021 in most cases) onwards. We outline these new disclosure rules here.
Changes for the Small Business Cashflow Scheme
Two changes to the Small Business Cashflow Scheme (SBCS) came into effect on Monday 21 March 2022.
Are you ready for payroll changes from 1 April?
There are a number of changes to payroll that come into effect from Friday 1 April 2022 not just an increase to the minimum wage. We share these here and if you want to discuss how these impact your business, don’t hesitate to get in touch.
Gearing up to meet growing Queenstown business need
Our Moore Markhams Queenstown has moved into a new office and increased its team from two to five to better meet the growing needs of businesses throughout Central Otago and the Southern Lakes region.
StudioCDesign | A design for success
It’s an unlikely genesis for a successful design company, but when Celeste and Glen Skachill set up StudioCDesign, they went bush. Bruce Stormer, Moore Markhams director guided the couple and continues to mentor them as their business grows.
Wilson Scott Recruitment | Building business back better
Auckland firm Wilson Scott Recruitment is rebuilding to new heights following a “perfect storm” of setbacks that included Covid’s shock squeeze on the construction industry. We share how Moore Markhams’ Toby Laidlaw helped the transformation.
Wests | An iconic investment
After time spent working in Asia, Angela and Craig McFarlane felt a pull to return to their Dunedin roots. Moore Markhams’ Callum Hayde helped them become the proud owners of drink, cordial and syrup producer, Wests – one of NZ’s oldest companies.
Common error – claiming GST on FBT
For those of you who prepare and file FBT returns on behalf of a GST-registered employer, you will be familiar with the GST on FBT adjustment that forms part of the FBT return. But are you clear on the rules?
Tax due diligence when buying or selling
For many business owners, a break over summer is an opportunity to evaluate their future strategy and consider whether it is time to exit, or conversely, grow by purchasing someone else’s business. Whether buying or selling, it is a demanding exercise.
Online reviews – what might they reveal?
Engaging with customers is always important and in the current environment, online interaction with customers has become exponentially relevant. Getting reviews can be highly valuable but sometimes they might not be as they seem.
Purchase price allocation now in effect
After over a year of consultation, the purchase price allocation legislation is now in effect. The purpose of the legislation is to ensure vendors and purchasers allocate consistent prices to business assets for tax purposes when selling and buying assets.
Empowering girls to change their world
Moore Markhams is delighted to support GirlGuiding New Zealand to train volunteers providing leadership to girls around the country so they can discover their passions, contribute to their communities, and form friendships in a safe and positive space.
The hunt for value is on as era of ‘easy money’ ends
Economic responses to the Covid pandemic created favourable conditions for corporate deal-making, with cheap money and low inflation driving demand and valuations higher.
Is an app right for your business?
Does your business need an app? We’ll help you assess the pros and cons of developing your own branded app, and the impact this could have on your finances.
Deep work helps ditch distractions and keeps you focused
Have you explored Deep Work? The way you structure your day has a huge impact on your outcomes. Minimising disruption and distraction to achieve 'flow' will boost your productivity.
Five ways to improve your procurement spending
Want to get in control of your procurement spending? We’ve got five key ways to improve your procurement processes and cut down on the costs.
Protect against fraud with E-invoicing
Invoice fraud is on the rise, but you don’t need to leave yourself vulnerable to scammers. E-invoicing is the secure way to send and receive invoices, backed by a government platform.
Should you help your child to buy a house?
Can you afford to become the Bank of Mum and Dad and help your child buy a house? There are plenty of ways to assist, from a gift to a loan to rent-free cohabitation – which one could be right for you?
Telling the right customer stories
When you tell the right stories, you create an awareness of more than just your products and services. You bring people inside your brand and tell them what it’s like to be a customer.
The COVID-19 Short-Term Absence Payment
The COVID-19 Short-Term Absence Payment is available for businesses, including self-employed people, to help pay their workers who cannot work from home while they wait for a COVID-19 test result.
Fellowship award for Wellington director
Bruce Stormer, a director in our Wellington business advisory firm, has been made a Fellow of Chartered Accountants of Australia and New Zealand.
A tale of two halves for Auckland suburban legal firms
Overall, the Auckland legal sector has remained buoyant through the past few years of Covid disruption. This is one of the insights from the 2021 Moore Markhams Auckland legal practitioners’ performance survey just released. Read more here.
Time to count up the Fringe Benefit Tax on Christmas traditions
For employers, the Christmas period is a time to splurge a little (or a lot) on your staff. This may include a Christmas party, taking the team out for lunch or providing Christmas gifts but you could also be liable to pay Fringe Benefit Tax (FBT) on those perks.
Latest survey shows Covid impact varied for pharmacists
New Zealand’s Community Pharmacy businesses have faced unprecedented challenges in the past year with COVID having a varied impact, which is evident in the 2021 Moore Markhams New Zealand Pharmacy Benchmarking survey report just released.
GST warranty on real estate transactions
Care needs to be taken when completing a land sale. With the surge in property valuations and property development activity, an incorrect GST declaration could prove to be a costly mistake.
Challenges and opportunities in a turbulent job market
Almost two years into a global health crisis that many could not have imagined in their lifetime, the concept of lockdowns, working from home, a fading connection to the workplace, and the overwhelming feeling of burn-out is driving a surge in resignations in many countries. Is this likely in NZ?
Choice of words makes a difference
Here’s an example of how a poor choice of words proved costly and reinforces the need to choose your words carefully.
Reimbursement for use of telcos
‘Telecommunications usage plans’ is Inland Revenue speak for your telephone and internet connections. IR has created rules for reimbursing employees. This includes shareholder employees. We share more.
YouTube for marketing your business
Are you using video marketing for your business? YouTube is the place to be. We’ve outlined six key ways to get your video marketing up and running on the YouTube channel.
6 marketing and design tools for your small business
Are you a small business without access to a full marketing and design team? Here are 6 marketing, graphics and design tools for your small business.
Redefining success
Are you a business owner? It’s important to redefine your plan and goals to ensure the business delivers your revised definition of personal, business, and team success. Get in touch to redefine success and set goals to achieve this.
Team communication tools - what is slack?
When you have employees working from home, communication becomes more important than ever. Adding another tool may seem like a further complication right now, but this tool might be useful for your team.
Making your business attractive to Gen Z talent
Gen Z now make up 24 percent of the workforce – but is your business culture attuned to the needs of this new generation? Find out how to evolve your company and attract Gen Z talent.
LinkedIn for marketing your business
Did you know that LinkedIn offers far more than just job hunting? The marketing features of LinkedIn can enhance your online presence.
Hutt City Podiatry | Helping those from all walks of life
Ashleigh Steiner's experience as a top-level competitive gymnast has given her a thorough understanding of sports medicine and rehabilitation within the podiatry profession.
Where is this going – 2020 tax changes made under urgency?
In December last year tax changes were made under urgency without the usual consultation process. Fast forward one year and three things have happened.
New tax legislation
In September 2021, the Government introduced a Bill that contained over 100 tax amendments. We share a few of the changes of note.
What’s the tax implication of a vaccine ‘thank you’?
Many employers are implementing initiatives to thank employees that get vaccinated. This is in an effort to help the country achieve vaccine targets. But what is the tax implication for those employers?
From unsure to leader, Deron grows with Outward Bound
Henderson High School Year 12 Deron Tildsley arrived at Outward Bound “real unsure”. 21 days later he left with the knowledge that he has the confidence and leadership skills to aim for head boy next year.
Are you ready for Delta in 2022?
The Delta variety of Covid could easily have been called Covid-20 or Covid-21. Now would seem a good time to be thinking about how this disease is going to affect your business into the future and what you’re going to do about it, if anything.
How to stop leakage leading to liquidation through cash flow planning
A cash flow plan allows you as a business owner to understand how your cash is used. There are misconceptions that having cash in the business means there will be more tax to pay, or that spending spare cash reduces your tax. Unfortunately, this mindset can lead to reduced profitability, and even worse, missed opportunities to expand when the time is right.
Remote work is on the rise - support your virtual team
Remote workers? Make sure you have strong communication channels, and robust systems to support your flexible workers and ensure continued productivity for your business.
Can companies claim home office expenses?
Lockdowns and increased accommodations for work-life balance mean many businesses have employees working full or part-time from home. Talk to us about whether your company can claim home office expenses.
Does your business have a disaster recovery plan?
Does your business have a disaster recovery plan? It’s important to have a watertight plan for overcoming any potential natural disasters.
Could a 4-day week be a good fit for your team?
Could a 4-day week be the ideal work set-up for your business? Global trials have shown that working fewer hours leads to a happier team who are still equally as productive.
Goodwill: what’s it worth?
Is goodwill valuable? How do you put a price on it? And how much is your business’s goodwill worth to a buyer?
3 Tips for a better recruitment ad
The job market is running hot and candidates have plenty to choose from – here are our three top tips for writing a job listing that will stand out in the crowd.
Is your business focused enough on cyber-security?
Keeping your data safe can be a big worry for today’s digital businesses. Now’s the ideal time to get your cyber security reviewed, updated, and tightened - before there's a breach.
Video marketing explained
Have you explored using video to boost your marketing? Here’s why video is fast becoming the most popular channel for marketing messaging.
Contractor vs employee: getting it wrong could be costly
Don’t make the mistake of mislabelling an employee as a contractor – there can be serious repercussions for getting it wrong. Here are a few tips on how to get it right.
Accounting basics: the profit and loss and balance sheet reports
Do you know the difference between your P&L and your balance sheet? We can explain exactly what each report means – and how it reflects your current performance as a business.
Latest on Property Tax Rules
On Tuesday 28 September, the Government released the draft legislation outlining the details of the policy limiting the deductibility of interest costs for residential property investments.
How family-held businesses can thrive generation after generation
A well-designed family-held business succession plan can articulate the vision and values of the founders and help ensure a smooth transition to the next generation. From our experience, many leave succession planning too late. We share some of the key questions that a family should be asking if it wants its business to thrive from one generation to the next.
Paid parental leave for who?
A recently released UNICEF report suggests that New Zealand’s child-care policies remain inferior among OECD countries, despite an increase to paid-parental leave introduced from July this year.
Luatola Semisi | Being alone with your thoughts is OK
Learning to be comfortable in her own thoughts, is one of the key benefits that Luatolu Semisi gained from her time at a 21-day Outward Bound programme, supported by Moore Markhams.
Stability and succession
The challenge of a global pandemic has emphasised the importance of a stable workforce. This is giving rise to an increase in the number of employee share scheme arrangements being put in place.
The ‘ute’ – Kiwi icon or tax dodge
It now appears Inland Revenue may be directed to crack down on the application of FBT to utes and enforce the view that they may not qualify as a work-related vehicle. While on the other hand, the Government is incentivising the purchase of electric vehicles.
Kitchens For Less | Kitchen renos running hot
It’s all hands on deck at Otago firm Kitchens For Less as Covid-confined Kiwis splash out on new kitchens as would-be travellers divert holiday funds to renovations, with kitchens often top of the list.
Cryptocurrencies – Are they on your radar?
Inland Revenue has released various forms of guidance on the topic of ‘crypto-assets’, which encompasses cryptocurrencies. This guidance is varied and somewhat contradictory. In general, crypto-assets are treated as a form of property for tax purposes.
Sanders Pharmacy | A winning strategy to business growth
Gemma Perry doesn’t believe in sitting on her laurels. Owner of Sanders Pharmacy in Te Awamutu, and a former New Zealand Young Pharmacist of the Year, Gemma and her team were named Community Pharmacy of the Year at this year’s Primary Healthcare Awards.
‘New builds’ discussion document
Inland Revenue’s “Design of the interest limitation rule and additional bright-line rules” document provides clarification on the proposed rules and seeks feedback on certain elements regarding the tax deductibility of interest on residential investment properties and the extension of the bright-line period to 10 years.
Self-employed and your meals
If you’re self-employed as a sole-trader, you have a greater degree of flexibility and control of your business affairs but you may be disadvantaged in how income and expenditure is calculated compared to a company. Tax deductible meal allowance for one.
Olympic pandemic
The 2020 Olympics held in 2021 was like no other. Here’s some facts to consider about the impact the Covid pandemic had on this global event.
Auditor - risking life and limb
Jordan Pearson is an auditor with a difference. He’s a member of the NZ Response Team working with Canterbury Civil Defence that sees him in some tricky and life-threatening situations.
Moore Markhams strength grows in New Zealand
The Moore Markhams group has been strengthened with a new Christchurch member firm joining our national business advisory and audit network.
Paying tax on your shares
Investing on a share platforms like Sharesies or Hatch? Should you be worried about paying tax on your dividends or when you sell? We have some tips.
Is it time to fire a client?
Do you have clients who take up too much time and bring in too little money? It might be time to rank your clients and say goodbye to a few from the bottom of the list.
The Holidays Act is changing – but you’ll need to comply in the meantime
The Holidays Act 2003 is getting an overhaul – but you’ll still need to be compliant in the meantime. We can help you navigate this tricky piece of legislation and get your holiday pay correct.
What small businesses can learn from their competition
They say competition is fierce, but we think it’s one of your greatest assets when starting up a new business. Find out what invaluable information you can learn from your competitors.
Surprise tax bill? Six possible reasons
Did you, or someone you know, get a tax bill they weren’t expecting? Inland Revenue has released a list of six possible reasons. We can help you figure out which one might apply, or why your bill isn’t what you expected.
Fees on utes - Three things you need to know
EV feebates will hit utes the hardest – three things you should know if you’re in the market for a new ute for your business.
Using the Value Ladder to increase sales
It’s essential to build a relationship with customers and provide value before you extract value. From Russell Brunson’s Dotcom Secrets, the Value Ladder shows that the stronger the relationship between you and your customer, the more they’ll spend.
Instagram for marketing your business
Whether you’re a small sole trader, a freelance influencer, or a well-established business brand, there’s considerable value to having a meaningful presence on Instagram.
Search Engine Optimisation for small businesses
With an estimated 130 trillion webpages identified by Google, how do you get a look in? Search engine optimisation (SEO) is all about providing internet users with the best experience and maximising your ability to be seen.
Upsizing or downsizing? We can help with the forecasting
Are you looking to either scale up or downsize, your business? We’ll help you review your existing business plan, run scenarios and forecasts, and look at the most appropriate strategy for your future. Learn more here.
Achieving your goals with the rocks, pebbles and sand mindset
Struggling to achieve your goals? Try the rocks, pebbles and sand concept to set your annual goals (rocks), 90-day goals (pebbles) and actions required (sand). Your goals will drive your day-to-day tasks, ensuring your goals are achieved! Check it out.
Handling staff shortages
NZ economist Tony Alexander surveyed 22,000 of his Tony’s View subscribers recently asking what issues they were facing around staffing. He collated 170 responses, some of which he described as excellent, and shared those. Check out some of the key findings here.
The drive to survive
Thomas Ziegler, leader of Moore Global’s automotive group, considers the impact the shift from combustion engines to battery powered vehicles will have on the global supply chain.
Car dealer forecourts are bustling but big challenges are round the corner
Auto sales have bounced back and prices and profits for dealers are sky high. However, a looming supply shortage and influx of new technology players threaten the revenue models of traditional franchises.
Stick or twist
Suppliers in the automotive industry have a dilemma: continue to develop systems for traditional cars or gamble on electric vehicles which make up only a fraction of global sales.
How to protect your business from being held to ransom
Ransomware attacks can cause huge disruption to your business, including loss of income, customer trust and resources.
Tax for ‘cashies’ in construction
Inland Revenue is currently engaging with the construction industry to ensure they’re ‘getting it right from the start’ around tax obligations if they undertake cash transactions.
Sick leave up from 5 to 10 days
From 24 July 2021, employee sick leave entitlements increase from 5 days per year to 10 days per year
Paying Inland Revenue correctly
With Inland Revenue no longer accepting cheques, more taxpayers are moving to online banking to pay their tax bills – and this has been a learning curve for many.
Residential property investors feeling the hurt of new reforms
While most of us can accept the Government’s intentions of tipping the balance away from speculators and back towards first home buyers, the new property tax changes are going to hurt ordinary New Zealanders, mum and dad investors, and in reality, tenants themselves as the cost of providing rental stock rises to investors. We share more here.
Does the extended bright-line test or the phasing out of interest deductions affect you?
The Government has released a 143-page discussion document outlining details on how to restrict interest deductions on residential investment properties - affecting around $82 billion of debt in New Zealand.
Financial support for business affected by Wellington Level 2
Businesses affected by the recent Wellington Alert Level 2 may be eligible for Government financial support. There is also support for people who cannot work from home while a business may be closed or who are self-isolating.
The inconvenient truth about sustainability
Technology needed to meet 2050 global emissions targets is not ready but there are five steps we could take now that would make a big difference.
LNG: is the answer to sustainable shipping staring us in the face?
Shipping would be the world’s sixth largest polluter if it was a country. Powering vessels with LNG could cut emissions by 30 percent but it is controversial.
A human element is vital in the technology revolution
The global pandemic has forced business owners to confront the shortcomings of their legacy systems and embrace the edge that Artificial Intelligence (AI) and Big Data gives them. However, it’s important to remember that relationships will always be critical for sustainable growth.
BUDGET 2021 – SECURING OUR RECOVERY
This time last year, the Budget dealt mainly with the Government’s economic response to the COVID-19 pandemic with support for business very much to the fore. In 2021, that focus has shifted to improving the wellbeing of New Zealanders and, in particular, those on the lowest incomes.
Introducing Xero ‘gun’ Gemma
Gemma Sheed has returned to our team after time out to have four children. At the same time she was keeping her hand in, particularly working with Xero. She’s now our Xero consultant – a gun for hire for clients, helping with all things relating to Xero.
Paragon NZ | Keeping a clear eye on business key to PI success
Veteran private investigator, Ron McQuilter came to New Zealand from Scotland 38 years ago. Using his policing experience, he set up Paragon NZ, a private investigation and security consultancy that operates throughout the country.
Paremata Auto Services | New owners bringing fresh drive to motor business
After a false start due to Covid-19, Simon Munro and his partner Charlotte Cudby, have bought Paremata Auto Services, with the added bonus that it’s just down the road from their home.
Malcolm James Furnishings | Furnishing Dunedin for 40 years
When Malcolm James sold his original, 25-year-old flooring business in 2007 for “an offer I couldn’t refuse” he started all over again building his second business from scratch, Malcolm James Furnishings.
Cheques being phased out
All major banks will stop issuing and accepting cheques over the coming months. It is important your relevant staff and your customers are aware of the key dates.
Heads up for large charities & NFPs
Larger charities and not-for-profits will be required to formally report service performance information as part of their year-end financial statements for financial years ended 31 December 2022 onwards. Now’s the time to start thinking about how best to achieve this.
Traps when buying a used car
While the process of buying a used car is usually completed without legal advice, it’s useful to refresh the checklist of the key points you should follow. This is particularly important if there is no intermediary overseeing the purchase.
COVID-19’s latest victim: tax loss carry forward rules
During the early days of the COVID-19 pandemic, the Government relaxed rules relating to carrying forward tax losses. The thinking being businesses requiring new capital investment would not forfeit tax losses. This change is now law.
Fair market salary reminder
A business needs to pay employees a fair market salary for their personal service. Given the 39 percent personal marginal income tax rate on income over $180,000 now in place, Inland Revenue’s scrutiny of such salaries is expected to increase.
Need help with your tax payments?
Tax pooling is a way to pay provisional tax by either chipping away at what you owe in instalments or deferring the whole amount to a payment date that suits you, without incurring Inland Revenue late payment penalties or interest.
Penalising R&M
Classifying expenditure as either deductible repairs and maintenance (R&M) or non-deductible capital expenditure is not clear cut. It is a question of fact and no two situations are the same. And while its advantageous from a tax perspective, when is it pushing ‘the line’ too far.
10 ways to lift your margin
There’s always room for improvement at the margin; small tweaks can massively boost your bottom line! How much extra would a 1% increase in gross margin give you?
The Five ‘A’s of Change - achieving continuous improvement
Covid has been a powerful catalyst for change. Going forward, how can we consciously use the process of change to continuously improve our business? Use the 5 ’A’s of Change: Awareness, Acceptance, Action, Accountability & Acknowledgement.
New superannuation rate: are you on track for retirement?
NZ superannuation has just increased – are you on track for a comfortable retirement? It could be time to start making a few changes that will set you up for a better future. The sooner you start, the more you can build your retirement savings.
Is property still a good investment?
It’s becoming more expensive to own rentals, so is property still a good investment? The costs and risks may have risen, but it also has one distinct advantage…
Do you need better access to funding?
If you want to strengthen your capital position, now’s the time to act and to start thinking about your funding needs as a company. Talk to us about creating a funding strategy.
Minimum wage: expect more increases
The minimum wage hike is now in action – and it’s increased every year since 2000. This is a great time to review your pricing as costs rise.
Supply shortages – some of them surprising!
COVID-19 has fundamentally disrupted global trade to the point there are product shortages starting to play out. You might be surprised at some of these.
Business interruption due to Covid-19
Inland Revenue has set out a ‘draft’ view on to what extent businesses can claim tax deductions for expenditure incurred while impacted by Covid-19. Your comment is welcomed – the deadline is 28 May.
Employment recovery
Over a year on from NZ’s level four lockdown, there have been some both highs and lows for businesses and communities. Employment levels slumped to an eight year low in September 2020, with over 150,000 unemployed people. So nearly six months on, how does the job market stack up now?
Otago welcomes new babes
Congratulations go to Tom and Anna Offen and Heath and Terri Copland on the birth of their babies in recent months. James Thomas Offen was born on 17 March and Astrid Sailor Copland a month later, on 16 April.
The Big Pivot
Manufacturers and distributors who made a Big Pivot to embrace technology and reshape supply chains after Covid hit have seen revenue, profits and productivity rise.
Vodcast with Mark Fagan, Moore Global leader in manufacturing and distribution
"Companies realised, with Covid, they had real risk with supply chain concentration," - Mark Fagan, Moore Global leader in manufacturing and distribution.
Lighting the fire under $3 trillion of dry powder
Private equity investors have $3 trillion to invest in smart manufacturing and distribution companies. Moore experts explain how to get their backing.
Why having a shareholders’ or partnership agreement is vital
Going into business with your brother, best mate, your parent or with business colleagues is exciting but also has the potential to end badly. An agreement in place at the outset helps identify all the worst-case scenarios so that should a dispute arise or the unexpected happen, you’ve already agreed on the best way to handle things. We share more here.
Morrison Design | Designers in demand
Covid-19 put construction projects on ice and sent shivers through the economy, but Wellington firm Morrison Design says there’s been no cooling off in demand for its services.
Electrical Importing Company | NZ ‘David’ standing strong against Goliaths and pandemic
Electrical Importing Company is considered an alternative supplier to the industrial electrical sector - the only NZ owned and independent ‘David’ up against multi-national ‘Goliath’ competitors.
Sumich Plumbing and Drainage | Summiting 30 years of service
Sumich Plumbing and Drainage is celebrating 30 years, testament to its resilience throughout economic recessions, construction market fluctuations and now, a global pandemic.
Three Tree Landscaping | Kick starting in Covid
Stefan Curry leapt into starting his own business Three Tree Landscaping one month before the Covid-19 pandemic put NZ into lockdown.
The importance of ‘reconciliation’
Reconciliation is a fundamental accounting process that ensures your financial records are accurate and complete. But it is surprising how many businesses do not undertake them. We share why this process is important and how it can help your business thrive.
Directors’ duties key in Covid
Company directors have a legal duty to not trade recklessly or take on obligations that their business cannot perform. Balancing the continued survival of a company versus their obligation against reckless trading has been a key feature of the Covid-19 economic environment.
New trust annual return requirements
Trusts will soon be required to provide an ‘annual return’ to Inland Revenue disclosing various trust information. Applying for the 2022 income year onward, IR can also request the same annual return information for any period between 2015 and 2021 income years.
An extra bolt on the door
Since COVID-19 started, there has been a dramatic increase in the number of cyber-attacks around the world. We share details of Xero’s mandatory multi-facet authentication about to be introduced – putting an extra bolt on the door to help keep your data secure.
New year’s aspirations
A shake up in the job market this year is likely – research indicates that nearly 385,000 adults will look to change their job in the coming year. Although not all will pursue their own business ideas, there is growing support for entrepreneurs.
The 39 percent rate change
The top personal marginal tax rate increases to 39 percent on income over $180,000 with effect from 1 April 2021. Businesses should consider what the flow-on effects are and forward plan to ensure they are not caught off guard.
Are you aware of the low-value asset threshold change?
We want to alert you to a low-value threshold change that comes into effect on 17 March.
Latest financial support for Covid-19 disruption
There is a range of additional and extended support available to NZ businesses in light of the recent change in Alert Levels.
The dangers of discounting
Offering a discount might seem like a great way to respond to a drop in sales, but it's a race to the bottom. Get in touch to discuss strategies to respond without discounting your product or service and maintaining your gross profit.
Leveraging your technology
Using technology to streamline your processes and systems increases efficiency, saving time and money, and reducing stress. We can help you identify how to use technology to make your business more sustainable, scalable, and saleable?
Tracking your marketing results
To get the best return from your marketing investment, you need to analyse the results. Build marketing metrics into your management reporting, so you can ensure your budget works harder.
Planning for seasonal income dips
Struggling with seasonal dips and poor cashflow? We’ll help you identify the timing of your seasonal downtime and create a strategy for stabilising your income across the year.
COVID-19 assistance round-up
While a number of Government initiatives to assist businesses have ended, there is some financial support still on offer. We share information here.
Impact of Covid-19 on transfer pricing policies
The continued economic impact of COVD-19 across the globe has naturally forced or accelerated the process of businesses to review their existing operations and commercial arrangements.
How Covid has brought humanity back to business
Covid causes unprecedented uncertainty and anxiety but it has also shown how kindness can re-energise employees and leadership teams.
4 key technologies to transform how the world does business
Artificial Intelligence, robots and augmented reality are all set to transform how the world does business.
Smart technology is helping companies survive the pandemic and driving an M&A boom
A digital revolution among small and medium size enterprises worldwide is accelerating at an unprecedented pace as business owners invest in data analytics and automation to survive and thrive in a fiercely challenging environment.
Reimbursing employee working from home costs
Here’s how you should be treating employee reimbursements for tax for those working from home this year
Promoting from within
Over the past eight months, we have made several changes within our Markhams Otago team, proudly promoting from within to provide opportunities to move into different roles.
Small Business Cashflow (Loan) Scheme changes
On 10 November, the Government announced changes to the Small Business Cashflow (Loan) Scheme.
New $40 Million COVID-19 Fund Opens
If you’re an iwi, hapū or community that has a social initiative to keep NZ safe and resilient, you should check out this new fund worth $40million to support community and social initiatives, marae, community facilities, heritage, environment activities, outdoor safety, health research and individuals with disabilities.
Strategic alliance: the benefits of working together
Strategic alliances are all about finding the common ground. If you share the same customer audience and create a complementary way of meeting their needs, you can significantly expand your target market.
Is the grass greener over the ditch?
We compare how Australia and New Zealand are planning to combat the effect of COVID-19. The strategies, the investments and other help for business.
How to work effectively as a trustee
If you are a trustee, you should be well aware that the Trust Act 2019 comes into effect at the end of next January. You should also be aware that there are changes that affect you and your responsibilities.
The first way to grow your business - increase customer retention
Did you know it's six times easier and cheaper to sell to existing customers than new ones? What are you doing to delight your customers?
How to treat employee accommodation for tax purposes
The treatment of employee accommodation (and taxable allowances) can be confusing. We share some insights to clarify the tax obligations.
Thinking of buying a business? Things to consider
Looking to buy a business? Good independent advice will ensure you make an informed investment. We can give you assistance in analysing the financial performance and potential of the business, so you can make the best decision possible.
Financial help for small Māori-owned businesses extended
The $10million
Māori Trustee Top-Up Small Business Cashflow Loan Scheme, has been extended until 31 December 2020. To date almost $1m has been paid to Māori-owned SMEs.
Time wasters to avoid
Struggling with disruptions, shifting priorities, and frustrating re-work? Streamline your processes and boost your efficiency. Here’s some thoughts on how.
Election outcome and tax policies
Labour has ruled out a capital gains tax and an increase in fuel taxes but is prepared to introduce a Digital Services Tax to target multinational digital businesses who have taken advantage of tax structuring options.
Demystifying your Balance Sheet
Unclear on the story your Balance Sheet tells? Don’t know how to calculate key ratios to measure the strength of your business? We can help demystify your Balance Sheet. The stronger it is, the stronger your business will be.
Callum Hayde – building relationships to help businesses thrive
Markhams Otago’s newest director Callum Hayde believes he has the experience ‘on both sides’ to understand his clients and their needs: as a chartered accountant and advisor and as business director who in the past year has faced the challenges of Covid-19.
What millennials want from work
Generally, a work / life balance has always been among the top priorities for millennials, and while this remains true, the desire for work-life integration has emerged.
Building confidence and self-belief, benefits of Outward Bound for Caeli
Caeli O’Brien is happy to tell anyone that Outward Bound is an incredible, not-to-be-missed opportunity.
Building an e-commerce site for your business
If you are selling your products and services online, you'll need an e-commerce site. Make sure your site has all the functionality to make it easy for your customers to buy from you.
Building a Better Business in 10 Steps
There’s no magic bullet to building a better business; it’s about taking small steps every day to get a bit better than the day before - it all adds up! Get in touch to find out more.
Adopting an Atomic Habits mindset
James Clear’s book, Atomic Habits, is a Gamechanger. If you struggle to make habits stick, stop focusing on habit outcomes and consciously adapt your identity to be the person that aligns with your habit.
Restructuring or selling your business? We can help
With a completely different business landscape in front of us, business owners are under increasing strain. If you are being kept up at night deciding what the best strategy is, get in touch. We are here to help.
Balance passion and planning when you pitch for funding
Seeking outside funding can be scary. But if you combine passion, a solid plan, and detailed financials there’s nothing to fear. We share thoughts on how to prepare the perfect pitch.
Outstanding invoices? Here’s how to get paid
Frustrated by unpaid invoices, but dreading the follow-up? We can help, with simple, effective techniques – and credit check services to help you avoid the issue in future.
Setting sales targets
How do you set attainable sales targets in a crisis? We’ll talk you through your business aims, profit goals, and historic sales performance, to set targets that truly deliver on your goals.
Cutting costs or increasing your prices? We can help
With more than 85 percent of SMEs expecting a lower profit in the next nine months, the more prepared you can be for the unexpected, the better. Talk to us about smart ways to get your costs under control or whether you need to increase your prices. We share thoughts here.
Top tips for building a strong company culture
A strong company culture underpins all successful, resilient businesses. But how do you develop and maintain a good company culture? We share some This article has some top tips.
The difference between restructuring and redundancy
If your business is looking at restructuring and possible redundancies, you need to understand the difference so you can get the process right and avoid complications, delays, or personal grievance claims.
Managing debt in your small business
Debt is a business risk, but it is also a positive tool that is usually necessary to fund your growth. When debt levels grow, we can help you put a plan in place to manage it.
Get in control of cashflow
Does your business need to improve its cash position? Poor cashflow is a problem for many businesses, whether you’re a start-up or an established family business. Talk to us about how you can get proactive with cashflow management.
Negotiation essentials – what you need to know
Negotiation is part of business. Whether you’re the supplier or the buyer, it pays to know how to do it. The best negotiations result in a win for both parties – here are five important steps to help get you there.
What you need to consider when buying a business
Looking to buy a business? Good independent advice will ensure you make an informed investment. We can help you analyse the financial performance and potential of the business, so you can make the best decision possible.
Understand customers' shopping habits using cookies
The more you know your customers, the better you can serve their needs, and cookies help you do this in the digital realm by collecting the most useful data about your customers and prospects. So, what are cookies?
Staying on track with your personal budget
Don’t set and forget your Personal Budget. Monitor your progress to achieve your goals. Dedicate one hour each month to track how you’re progressing towards your budget. Need accountability? Get in touch.
Pharmacy owners - benchmark your business to do better
For almost a decade, Moore Markhams has conducted an annual national Pharmacy Benchmarking Survey.
Trusts and beneficiaries – what the new Act requires
We’re becoming aware that there is some misunderstanding among clients about what the new Trusts Act requires around trust beneficiaries and their rights. We outline some key facts to help clarify any confusion.
Does your business have a CRM tool?
Having clean, up-to-date information and data about your customers is a vital part of running your business. But recording, tracking, and accessing this customer information can be tricky if you don’t have the right tools to get the job done.
Create a business plan in 10 steps
Your business plan is a roadmap for your business. Outline your vision, set goals, define funding and budget, forecast sales and cashflow, set timelines. Talk to us to create a watertight business plan.
Mentors are worth their weight in gold
Mentors can offer guidance, act as a sounding board, challenge thinking, and provide business owners with an independent and fresh perspective. Talk to us about finding a mentor for your business.
Common employment agreement mistakes
The employment agreement is the legal basis of the relationship between you and your employee, so you want to get it right and avoid some of the most common mistakes.
How NOT to manage working from home
How do you adapt the traditional working day to suit a remote workforce? The best place to start is to ask employees for their feedback. Here are some common practices that don't replicate to the home office.
How to run a better virtual meeting
Struggling with long virtual meetings? We all feel energised after an effective meeting, so keep your team productivity high by running better meetings.
Succession planning for small businesses
It’s a good idea to think about your succession plan long before you need to sell. With a plan in place, you can maximise the value of the business and achieve a better outcome.
Take some small steps to better wellbeing
Research shows that doing something (no matter how small) is the best way to manage anxiety. There is a lot we can’t control right now but there are also things you can. Here are some ideas.
Handling an employee complaint about another employee
Ignoring an employee’s complaint about a co-worker can harm your staff and your business, so you need to know how to handle it. We share thoughts to guide you through the complaint process.
Mexicali Fresh | Riding the Mexican Wave
Serving up a taste of Mexico in the art deco streets of Napier has been a winning move for Mexicali Fresh franchisee Maggie Donnelly.
Long Dog Cafe | Loving lifestyle change despite lockdown
Customers flock to a beachside café in Dunedin because they know they can rely on it being a top-quality experience.
Financial crime prevention highest rated auditor
Stuart Hansen is one of Australasia’s highest qualified Anti-Money laundering specialists having recently completed the CAMS-AUDIT qualification.
New tax specialist joins our team
If your tax matter is a transaction out of the ordinary or when getting it wrong could be quite costly, then Ashleigh Gilmour is here to help.
Healthy Homes costs deductions
We share IR guidance on the deductibility of costs to bring residential rentals up to new legislative standards.
Take a break – boosting your team’s morale
Now that an escape to the islands or a trip further afield to warmer climes is not possible, how can employers boost morale in this time of uncertainty?
FBT on vehicles during lockdown
You wouldn’t be blamed for assuming FBT wouldn’t apply to motor vehicles during the recent Level 4 lockdown period. Right?
Accounting for COVID-19
Some companies have implemented ‘alternative’ accounting methods to adjust their financial results for the impact of COVID-19.
Don’t let your passport expire
Even if you’re not planning on travelling, having an official document with your photo is very important, particularly to meet AML/CFT requirements.
Outward Bound grows mana
To say that Outward Bound put Tawa College student, George Te’o out of his comfort zone would be an understatement.
Are you ready for the new laws around Trusts?
Do you have a trust or are you a trustee? The new Trusts Act 2019 came into effect on 30 January 2021 with legal requirements that are more prescriptive than in the past.
Wage Subsidy audits – what you need to show
The Ministry of Social Development has a team of 120 auditors who are now auditing businesses on their use of Wages Subsidy payments.
Understanding working capital to maintain business success
Cash is oxygen for your business and measuring working capital is your regular health check to keep your business alive; especially in turbulent times.
Review your expenses – and save yourself money
Need to reinvent your expenses? We’ll review your current costs, find the expenses that could be cut, and will provide a proactive spend management programme to reduce your spending.
Create a one-page business plan
Need to revisit your business plan? We can help guide you through the threats and opportunities that lie ahead, with sound financial management at the core of your plan.
The fundamentals of a business budget
We believe having a budget is essential for business success. Talk to us about creating a useful budget in your accounting software as a practical business management tool. We’d love to help you start planning for a great 2021 financial year!
Slow payers cost you real money
Growing electronic connectivity between small businesses, accountants, and financial institutions coupled with cloud accounting and traditional methods will help your debtor management.
Tracking your online success with Google Analytics
Do you know how your website is performing, and where online visitors come from? If you are serious about exploring your online analytics, Google has courses that teach you the basics, so you can enhance your online presence.
Efficiency through automation
Technology can be transformative: improving leverage, consistency, efficiency, risk management, induction and training, scalability and saleability. What software have you adopted Post Covid as part of your Business Recovery Plan?
What are your critical numbers?
The Covid-19 crisis has created a ‘new normal’ for businesses. Traditional ways of working are being challenged and we now need to innovate, adapt, re-engineer, and reinvent the way we work.
Understanding your revenue drivers
How well do you understand your revenue drivers? We can help you review the numbers in your business, identify your revenue drivers, and will help you enhance your total revenue as a company.
Ethical marketing – seven keys
Ethical marketing is simply the line drawn between moral and immoral advertising to your customers.
How to handle bad reviews about your business
When was the last time you made a purchasing decision based on positive customer reviews? Most of us can remember when we decided NOT to buy something based on negative reviews. It works both ways.
Using testimonials and case studies to transform your business
Good reviews are gold for your business. You can spend all day telling people how wonderful and great your product or service is, but what they really want is proof.
Blockchain: innovation for businesses
What exactly is 'blockchain' technology? And how could it have a positive impact for your business?
How to write engaging content for your marketing
Content marketing is a key weapon in your company's sales and digital marketing armoury.
Facing challenges? Change your mindset
In today's world, we are constantly having to tackle new things and learn new skills. It can be overwhelming,... if you let it. Next time you feel like saying ‘I can’t do it’, replace it with ‘I can’t do it, yet’.
Never has the entrepreneurial spirit had to burn brighter
They say never waste a good crisis… and, that if there is a better way to do something (think stale processes), find it now, when the fan is already covered in proverbial.
5 proven ways to get your store to stand out
Retail is becoming increasingly competitive and consumers today have a lot more choices when it comes to where to shop. Coming up with ways to make your store more memorable is essential.
Support for farmers
Farmers under financial strain now have access to extra support and guidance. The Farm Debt Mediation Scheme came into play on 1 July and provides mediation services to help farmers and their creditors work through debt issues.
The wage subsidy extension - what you need to know - closes 1 September 2020
Businesses affected by COVID-19 can apply for support through the Government’s wage subsidy scheme. Those still affected have until 11.59pm on 1 September 2020 to apply
Retention plans to keep customers happy and boost sales
With many businesses struggling to achieve pre-Covid sales levels, and the potential for unemployment to spawn a new breed of start-ups, having a customer retention plan has never been more important.
Reinventing your product and service offering post-Covid
How will you innovate, re-engineer, adapt or widen your lane post-Covid? From tech adoption to product development and blowing up stale processes; a crisis forces change. How are you innovating for your business recovery?
11 Strategies to maximise your cash reserves
The Covid-19 crisis has highlighted the inadequacy of current cash reserves for many business owners - they simply don’t have enough cash to sustain the business in a crisis.
Support for commercial rent disputes
Many commercial lease arrangements in New Zealand have been affected by the response to COVID-19. Tenants may be unable to pay their rent as their business is not fully operating or generating sufficient income. Landlords may also be unable to meet their mortgage payments.
Payments to staff for costs incurred working from home
Some employers have made, or intend to make, payments to employees to reimburse costs incurred by their employees working from home during the COVID-19 pandemic. Inland Revenue has clarified the tax treatment of such payments made from 17 March 2020 to 17 September 2020.
Wages Subsidy extension
The Government is extending the Wages Subsidy with applications opening on 10 June 2020.
How business debt hibernation can help your business
Business debt hibernation is a government initiative that helps companies, trusts, and other business entities affected by COVID-19 to manage the debts they currently have.
How to create a cash flow forecast for your business
A cash flow forecast is an important tool for business planning. And right now, understanding the cash coming in and going out of your business is vital.
2020 Drought Recovery Advice Fund open
New drought analysis shows this year is one of the most severe on record for parts of the country, and it has hit the primary sector hard.
New Zealand: Small, Simple, SMART
New Zealand may be small in size, but when it comes to innovation, intelligence, integrity and ease of doing business, we are a big hitter.
How do you invoice during a crisis?
It’s not easy to request payment right now but it is important to keep cash flowing into your business. As with all business dealings at them moment, a little empathy and a lot of open communication can go a long way.
How to strengthen your supplier relationships
Keeping your relationships with suppliers positive is crucial if you rely on them to help you keep your customers satisfied. Here’s some suggestions to keep things on a steady course.
Cashflow and cost control crucial now
Keeping everything running is the priority for now, whether you’re in recovery or growth mode. Regular cashflow forecasts will help you make informed decisions. And controlling your costs will potentially free up cash. We share more here.
How a SWOT analysis can help your business
The more you understand about your business, your market and your competitors, the better prepared you are. A simple SWOT analysis can be an invaluable tool in your strategic armoury.
Business sustainability in uncertain times
What could your business look like from here? Can you streamline your setup for smooth, secure online interaction? Talk to us about building sustainability in your business.
Tax changes in response to Covid-19
In addition to the
tax loss carry-back scheme, the New Zealand Government has introduced various tax changes to assist businesses and individuals to get through COVID-19.
How carry back of tax losses can help you through COVID-19
As part of the Government’s Covid-19 response, on 30 April 2020 legislation was passed under urgency that allows tax losses to be offset against income derived in a previous year, thereby enabling the taxpayer to obtain a refund comprising prior year income tax paid. This temporary tax loss carry-back scheme is available to most taxpayers, e.g. trusts, companies and individuals.
Business structure – is it right for our ‘new normal’?
The challenges surrounding our current business environment caused through the COVID-19 pandemic has made many owners question whether the structure of their business is still fit for purpose.
Pandemic rules that get you thinking
As we’ve moved through our COVID-19 alert levels, it’s taken some time for the rules to be refined and communicated. Not to make light of the importance of the rules, other countries have adopted some ‘interesting’ lockdown directions.
Emerging from Covid-19 – what you should be considering now
As New Zealand moves down the COVID-19 alert levels businesses face a long transition period from the unknown to the ‘new normal’.
Budget 2020 Rebuilding Together – our take
Touted as a once in a generation Budget, yesterday the Government announced a $50 billion COVID-19 Response and Recovery Fund, $20 billion of which remains uncommitted and will be allocated in the months to come. This fund builds on top of the initial $12.1 billion package, and the $12 billion New Zealand Upgrade Programme announced in January.
Moving into level 2 – what you need to know
From 11.59pm on Wednesday 13 May, New Zealand moves into Level 2. Here’s some key points.
Ways to improve business performance
Here are 10 tips to improve your business performance. Eliminate distractions and bad customers, get a plan, use tech, deploy marketing and understand your business numbers.
What to do with your website during a crisis
Your website is usually the first place a new customer will go when they are looking for your products and services. Use your homepage to update your customers on how they can continue to buy from you.
Out of office? Be on alert: tips to protect your business information
Working from home? The commute’s a breeze, the pantry is on tap and you haven’t ironed a business shirt in weeks. But don’t drop your guard just yet. Now that you’re working outside your controlled office environment you need to stay vigilant when it comes to protecting your business information.
Getting ready for doing business in Level 3
The Government has clarified that most, but not all, businesses can start to open under Alert Level 3 from 11.59pm on Monday 27 April.
Reference links for COVID-19 information
We have pulled together links to websites and information to make it easy for you to find what you’re looking for.
Tax relief packages for SMEs
The Government has announced (April 15) a further set of tax proposals to help businesses manage the impacts of COVID-19. In summary:
Encouraging prompt payment
Keeping on top of your invoicing requires a proactive strategy. Sometimes it just takes a phone call. Here’s some other tips:
Insolvency relief
The Government is introducing urgent law changes to the Companies Act to give directors temporary relief from potential personal liability when the business faces significant liquidity problems. The changes will not cover serious breaches of duty.
The value of cashflow forecasting during a crisis
During the ongoing coronavirus crisis, many sectors are seeing income either disappear completely or drop to dangerous levels.
Binding rulings for small businesses
Inland Revenue has recognised the system of binding rulings doesn’t work for small businesses because it’s too expensive.
Common Reporting Standard (CRS) explained
You might have been contacted by your bank to fill in a form enquiring about your CRS status. In simple terms, CRS stands for Common Reporting Standard.
Dire implications for late tax payments
If you pay your provisional tax one day late you come out of what is called the Safe Harbour scheme.
Tax changes worth noting
There have been several tax changes recently. Some of the important ones are listed here:
Effective remote working tools
Many of us have been thrust into a remote working regime with little time to prepare. Here’s some options for working collaboratively yet remotely:
Wage subsidy is not part of sales
If you’ve received a wage subsidy, don’t treat it as being part of sales.
Plan now for your business continuity
Having a plan to deal with the fallout from the COVID-19 pandemic is going to be critical to business survival.
The value of a brand style guide
Your brand is an integral part of what makes your business unique. So, keeping your brand style consistent across all communications, marketing and online channels is important – and this is where having a brand style guide can become invaluable.
COVID-19 – paying your employees on the wage subsidy
If you have applied for or have received the COVID-19 Wage Subsidy, you must still undertake best endeavours to pay the employees named in your application, at least 80 percent of their usual wages.
Can you steal GST?
Whether a price includes GST or not is important to know for the price of a product. In the case between New Zealand Police and Genesis Pure, ‘GST’ became the difference between a maximum penalty of seven years in jail, or one.
COVID-19 economic response package and you
The rapid escalation of New Zealand’s official response to COVID-19 is having impact on our business community - in some cases, it’s already significant. We believe that business owners and managers, ourselves included, will find dealing with the coming months challenging. We want to assure you that we are here to support you.
Barry Rosenberg - 65 and not out, new plans ahead
Barry Rosenberg may be retiring from Moore Markhams at the end of March but he’s certainly not heading home to sit in his recliner to listen to sports radio.
Humble Bees | Giving plastics the sting
Otago start-up Humble Bee is unlocking the secrets of a unique type of bee to tackle the global plastic pollution problem.
Helen Reeves – retiring the red pen
Helen Reeves is a stickler for accuracy with a knack for numbers – little wonder then that she wound up a senior manager at Moore Markhams Wellington.
Moore Markhams: Helping grow Sarah's confidence
Read how Sarah gained the confidence she needed to kick start her career with Moore Markhams.
FMA Audit Quality Monitoring Report
We have scrutinised the Financial Markets Authority’s audit quality monitoring report and have summarised what you need to know to improve the overall quality of your relationship with your auditor.
Joining forces to strengthen our service
From next week, our cloud-based accounting expertise will strengthen when we are joined by our colleagues from HWI Limited under the Moore Markhams banner. Initially this will be from our home bases but we look forward to bringing them into our Newmarket offices once the COVID-19 situation is over.
Tax: a brief history
Tax is often quoted as being unfair. However, a review of taxes from historic periods can highlight how ‘sensible’ our current system is.
Employee phones and PAYE / FBT
The devil is in the detail and there are conditions around employees using mobile phones and how PAYE and FBT rules apply. Recently Inland Revenue provided an easy rule of thumb for employers to adopt.
GST on loan repayments
GST is deducted on goods and services that are acquired for use in making taxable supplies. A recent High Court decision is a timely reminder that understanding the legal form of a transaction is important for applying the correct GST treatment.
Purchase price allocation needs consideration
Buying or selling a business is a significant decision, and commonly involves vendor and purchaser negotiations on many aspects of the transaction.
Global tax – paying a fair share
A series of legislative changes have been implemented over the past few years as part of the Government’s focus on ensuring multi-national corporations pay their fair share of tax.
Changes to donation tax credits
The Income Tax Act 2007 requires a donation to be a “…gift of money of $5 or more…”, but what does this phrase mean? Confusion arises because monetary gifts can take various forms. A dispute on the issue has been making its way through the Courts.
Overcoming fears and learning resilience through Outward Bound
Samuel Chadwick has conquered his biggest fear and realised the strength of his mind in tackling challenges – all as a result of a 21-day Outward Bound Mind, Body and Soul course. We’re proud to have supported Samuel in his adventure.
Gerard Bonnet - bringing it back home
When the opportunity came to take up an exciting new role as a senior accountant at Moore Markhams Whanganui in 2019, Gerard Bonnet jumped at it.
Moore Markhams: Helping Jonathan's career thrive
Read how the team at Moore Markhams has helped Jonathan lay a strong foundation for his career in audit.
What are your numbers telling you? How to grow your business using your financials
Too many New Zealand business people are missing the potential to grow their business by not learning to understand what their numbers are telling them.
Work. Sleep. Eat. Repeat?
Working harder is not always smarter. Burnout is common among business owners and staff who are pushed to the limits. Ultimately, it’s not good for business or your personal life to be burning the candle at both ends. But how on earth are you expected to fit it all in?! Find a better balance with these helpful hacks.
The busy person’s guide to stress-free performance reviews
How well are your staff performing? Do they love their job? Performance reviews, an open two-way conversation held once or twice a year, are a great way to find out. While you’re not legally bound to do appraisals, they’re a great tool to keep your business running smoothly.
Why closing the gender pay gap is good for business
While the gender pay gap is smaller than a decade ago, a collection of top New Zealand business people are working hard to reduce it further.
What is content marketing and why is it important?
Content marketing is engaging customers and prospects by speaking about what matters to them. It’s not a ‘hard sell’, but genuinely winning their interest with content that is useful and interesting.
The benefits of creating a holding company
Looking to protect the long-term future of your business and investments? We’ll help you create a new holding company and establish a robust group structure that safeguards your profits.
Recruiting new staff? Start with a plan
Bringing on a new staff member is an exciting time for any business. We can help you with your recruitment plan, budget and your compliance obligations as an employer.
Understanding who your customers are is essential for your business
Knowing and understanding your customers is key to successful marketing and can give you a profitable advantage. Take some time now to understand your valued customers and you'll be more likely to attract more.
Your small business has a great story to tell
Your small business has a great story to tell. When you are ready to launch your PR make sure you have done the groundwork for your best chance of success. Put your great news on your website’s blog and share it on your social media channels.
Set the right growth goals for your business this year
Got a plan for your business this year? We’ll help you pin down your goals and create a financial model that delivers the goods – both for the business and your own personal wealth.
Sharon Parker retires after 30 years
After 30 years attending to the financial needs of businesses from Wairarapa and further afield, Sharon is looking forward to a change in direction. This will be an exciting time for her as whilst some of her plans are mapped out there will also be something of a leap into the unknown.