The importance of cash flow

If you’re in the happy position of seeing your business in a growth phase, it pays to consider how you can most effectively manage your in-comings and out-goings. In a time of growth, cash is required to pay suppliers but it may not be replaced for some months until a sale is converted into cash. … Continue reading “The importance of cash flow”

The value of a valuation

Knowing the value of a business is smart and strategic. Commonly, a business valuation is for those wanting to: buy, sell or exit; measure business growth; restructure; pass the business to family; settle property relationship issues or resolve shareholder or commercial disputes. A valuation also helps business owners make informed strategic decisions and better understand … Continue reading “The value of a valuation”

New way to pay provisional tax proposed

The Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill introduced to Parliament on 8 August includes a range of measures designed to simplify business taxes, including a new way for businesses to pay their provisional tax. The Bill also includes new disclosure requirements for foreign trusts following the recommendations of the Shewan Inquiry … Continue reading “New way to pay provisional tax proposed”

Are you a reporting entity under AML/CFT Act?

Under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, Reporting Entities have been required to have an AML/CFT Risk Assessment and Compliance Programme in place and audited on a two-yearly basis since 30 June 2015. It is not only banks and major financial services companies that fall under the requirements of this Act, … Continue reading “Are you a reporting entity under AML/CFT Act?”

Motor vehicles and fringe benefit tax

An employer is liable to pay fringe benefit tax (FBT) on fringe benefits the employer provides to its employees.  One of the big-ticket fringe benefits an employer could provide to an employee is making a motor vehicle available for the employee’s private use. If an employer makes a motor vehicle available to an employee, an … Continue reading “Motor vehicles and fringe benefit tax”

Updated Inland Revenue rates that may affect you and your company

Inland Revenue has recently updated its mileage rates for expenditure incurred for the business use of a motor vehicle and use-of-money interest rates. Mileage rates A recent review of the Commissioner’s mileage rate has resulted in a reduction to the 2016 income tax year rate. The new rate has decreased from 74 cents to 72 … Continue reading “Updated Inland Revenue rates that may affect you and your company”

Tips for sound financial planning and governance

Now that the tax year end has come and gone, have you set the financial objectives for your business for the year ahead? How good are your management reporting tools and are you able to track performance against your goals? To help measure your business performance, download our tips for sound financial planning factsheet. The … Continue reading “Tips for sound financial planning and governance”

“Safely.nz” app targets better farm health and safety without the hassle

With the launch of a new app specifically tailored for New Zealand’s farms, professional services firm Crowe Horwath is making it easier and more convenient to institute sound health and safety practices in rural workplaces. Dubbed ‘Safely.nz’, the app is the result of a partnership between Crowe Horwath’s Human Resources division, Progressive Consulting, and developer … Continue reading ““Safely.nz” app targets better farm health and safety without the hassle”

Family businesses: Communication is key

Family businesses in New Zealand make up around 75% of all businesses*. Although rewarding, being part of a family business can be challenging because of the way in which business ownership, management and family relationships overlap, creating complexities and emotional issues, particularly around money and control. Crowe Horwath have developed the Family Business guide, which … Continue reading “Family businesses: Communication is key”

Simplifying your financial statements

Have you noticed how financial statements are becoming convoluted and lengthy, with many extending beyond 100 pages? In an attempt to simplify this process, the International Accounting Standards Board have introduced the AASB 101 Presentation of Financial Statements, which aims to “cut the clutter” in preparing financial statements.  Cutting the clutter Our white paper ‘How … Continue reading “Simplifying your financial statements”