Keep cash crowned as king

Keep cash crowned as king

If you want to succeed in business, understand that Cash is King. Your business can’t survive without cash. The following six takeaways are essential for business success: Protect your cash position, by knowing what it is. Build a cashflow statement and always keep it...

Cashflow is not profit – and vice versa

The purpose of a business is to make money, and that means you have to know the difference between profit and cashflow. Net profit is what you have left after you deduct all your business expenses from all your revenue. You change net profit only by changing the...

Fairer tax rules affect cashflow

A tax bill passed in May made changes that affect cashflow. Companies get more choice with RWT From 2017-18, companies can choose to not deduct resident withholding tax on a fully imputed dividend paid to a corporate shareholder. A fully imputed dividend has a tax...
IRD AIMs to please – next year

IRD AIMs to please – next year

A key principle of the tax system is taxpayers should pay tax as income is earned. That doesn’t work well for businesses with seasonal or volatile incomes, and is why the Government announced, early this year, a new method for paying provisional tax. The Accounting...
Several ways taxpayers can get caught out

Several ways taxpayers can get caught out

Taxpayers who earn income from various sources may get caught short if they don’t plan ahead. This could come about in various ways: Airbnb Overseas investment Shares in an overseas company Airbnb income If you rent rooms or homes through Airbnb, you may not realise...

Contractors get more tax choice

The way contractors pay tax changed on 1 April, giving greater choice, and making it easier to get tax right. The rules around schedular payments have changed to allow this, and are compulsory for all contractors hired by a recruiter — or other labour hire business —...