Record Keeping – Retail and Hospitality

February 1, 2018

A reminder that if you are running a till system for your daily takings, try and reconcile each day to the money received. Inland Revenue are increasing their review activity and one of the main source documents they ask for are the till receipts. They’re looking to see if the till receipt totals are significantly different to the amount of money banked – so …

New Calculator: Percentage Saved for Reduced Price

We’ve added a handy new calculator to the Kiwitax website. This one works out your percentage saving when buying something at a reduced price. For example if you buy something for $90 that is normally $100 then… You’ve saved $10 Paid 90% of the normal price Saved 10% Obviously it becomes more useful when the numbers aren’t so “round”. You may find it good …

Kiwitax – CEO Business Marketing Interview

Really enjoyed chatting with Ryan about Kiwitax as part of his epic series of 100 CEO Interviews. We talked about why we started Kiwitax 16 years ago, and our values around caring for clients, how we’ve grown the business plus much more. Please do check it out! http://www.ryan.marketing/2016/01/19/kiwitax-ceo-business-marketing-interview-2-100/

Thinking of Buying a Holiday Home?

The tax rules around holiday homes have changed significantly making many formerly available tax deductions unavailable. If considering buying a property to be available for short term hire e.g. a holiday home which is rented out to the public for short periods and you also want to make use of the property – please contact us first for advice! If buying such a property …

What’s The Difference Between GST On Payments Or Invoice Basis?

There are two main methods you can prepare your GST returns based on, these are: Payments basis – This is when you prepare your GST return based on all the income you have received and expenses that you have paid for the GST return period. This is the easiest method to use for calculating GST returns. Invoice basis – This is when you prepare …