Taxation
The New Zealand direct tax system is a very complex piece of legislation, and the frequent changes in the direct tax laws only add to the complexities. We keep abreast of the changes made in Direct Tax Laws to provide quality services to our clients. From filing returns to dealing with IRD, we do it all for you.
- Preparing & Filing tax returns for Sole traders, Partnerships and companies.
- Complying with IRD notices and dealing with them
- Advise on advance tax, provisional tax and withholding of tax
- Researching and giving opinions on different aspects of taxation law
- Advising on RWT, ACC and tax refunds in NZ
GST
Goods and Services Tax is significant indirect tax revenue for the government of New Zealand. Businesses need to compute their GST correctly (if applicable) and give accurate information to the government. For our clients, we provide end-to-end GST solutions.
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1. Computation of GST and filing the GST returns monthly, two-monthly and half-yearly.
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2. Evaluating GST applicability on existing/proposed transactions.
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3. Assistance in obtaining GST Registrations
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4. Rendering opinion on issues under GST law
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5. Dealing with IRD notices on GST and complying with them
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6. Training workshops for clients on GST matters
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7. Advising on GST compliances
Payroll
Payroll can be time-demanding and challenging. It can take your focus away from the core of your business, especially with the government and Inland Revenue amendments to protect
workers’ rights. The law relating to payroll is more complex than ever, and we are here to help you navigate the complex mechanisms.
We can help you with all sorts of payroll solution
- PAYE (Pay-as-you-earn)
- IRD filing
- Kiwi Saver contribution
- Pay slips
- Advising on RWT, ACC and tax refunds in NZ
- All leave calculations like sick, annual etc
- Holiday pay entitlements
FBT Management
Fringe benefits include most benefits and perks you give to your employees, their family or related person other than their salary or wage. Fringe benefits tax (FBT) is the tax payable on non-cash benefits provided to employees, including shareholder-employees
In New Zealand, there are four key types of FBTs:
- Motor vehicles for personal use
- Loans on lower interest rates
- Goods or services provided to the employees for Free or discounted or subsidized rates
- Any contributions towards insurance, accident or death benefit funds, and superannuation schemes
With the changes in individual tax slabs for earning over $180000 is 39%, the FBT single rate also move to 63.93% from 49.25%
We help you to calculate the FBT, prepare the return and filing to the IRD.
Cashflow Forecasting
A cash flow forecast is vital for your business because it will tell you if you have enough cash to run the business operations smoothly. It will help you identify sources of cash receipts and payments and assist you in vendor and debtor management and inventory management.
A cash flow forecast is essential to getting a loan too!
We help clients prepare a cash flow forecast by analysing their business’s nature, anticipated growth forecasts, and the nature and timing of receipts and payments. This allows clients to borrow the required funding from banks/investors to start or grow their businesses. Also, clients understand whether funding will be required at any future stage or to estimate when they can expand their operations while having sufficient liquidity.
Accounting & Bookkeeping
Bookkeeping records your transactions daily to understand the position of assets, liabilities, incomes, expenses, and equity. We help our clients manage this function, so their focus does not shift from their core business. By analyzing transactions, we help our clients gain deep financial insights into their business relevant for future decisions. To make the clients easily understand Bookkeeping records your transactions daily to understand the position of assets, liabilities, incomes, expenses and equity. We help our clients manage this function, so their focus does not shift from their core business. By analysing the transactions, we help our clients to gain deep financial insights into their business relevant for future decision-making. This is done by preparing customised data, graphs and charts, which become helpful in future business decisions.
Business Advisory & Business Startup
Our business advisory & Business Startup function analyses bottlenecks, problems and potential risks the business faces and advises a way to help it become more cost-effective and efficient. This is done by providing the below services.
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1. The correct way to set up a business - whether as a sole trader, partnership firm or corporation and the compliances related to it
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2. Preparation of budgets by coordinating with different functions such and Production, Sales, Marketing, HR, Legal, Finance and others
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3. Doing a cost-benefit analysis for a new project and providing a detailed report for it
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4. Advising the management on the organization structure in line with the organization's objectives
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5. Designing and implementing processes for different business verticals so that the business runs smoothly
Assessing your finance requirements and deciding upon the best way to obtain finance Analysing ratios and advising how you can improve upon crucial financial ratios advising on the overall improvement of business by undertaking deep market research of the industry.
