Getting into property development requires a meticulous blend of knowledge, strategy, and financial expertise. With Premium Accounting Solution (PAS) by your side, this comprehensive guide explores the intricacies of property development. We will delve into the fundamentals of property development, outline the reasons behind the appeal of entering the real estate development industry, and provide an in-depth exploration of key strategies and tips for success in collaboration with us. What is Property Development? Property development, aka real estate development, is a multifaceted process ..read more

When it comes to managing a small business, maintaining accurate and organised financial records is paramount. Bookkeeping software has emerged as a revolutionary tool, providing small businesses with the means to streamline financial processes, enhance accuracy, and gain valuable insights. In this comprehensive guide, we will explore the essence of bookkeeping software, why it is crucial for small businesses, and delve into some of our favourite, industry-known bookkeeping software options that cater specifically to the needs of smaller enterprises. What is a Bookkeeping Software? Bookkee ..read more

In the fast-paced world of business, companies are continually seeking innovative strategies to enhance efficiency, reduce costs, and concentrate on their core competencies. One strategic approach that has gained widespread recognition is the outsourcing of accounting and tax preparation services. In this comprehensive guide, we will explore what outsourcing entails, dive into the myriad reasons why companies should consider this approach in detail, and provide valuable insights on how to choose the right accounting professional for this crucial task. Understanding Outsourcing in Accounting ..read more

From the outset, humans are inherently good and often wish to extend a helping hand when encountering individuals or situations that require assistance. One direct method to help is through donations. IRD offers certain tax benefits for such philanthropic actions. This article will introduce the details regarding Donation Tax Credits.   As a donor, you can claim 33.33 cents for every dollar you donated to approved charities and organizations. However, you can only claim on donations that add up to the same amount or less than your taxable income during the tax year. Who Can Claim Donat ..read more

As we all know, New Zealand is a country with a very low threshold for starting a business. You can set up a company with low cost, but operating a business well is not an easy work. For start-up, buying a ready-made business may be a good choice. Especially under Covid-19, due to the decline in revenue, the selling price of a business has fallen, which makes buying and selling businesses quite active in New Zealand market.   A business can be sold in the form of assets, or in the form of shares, but each form has its own pros and cons, and there are different tax treatments. This articl ..read more

From the outset, humans are inherently good and often wish to extend a helping hand when encountering individuals or situations that require assistance. One direct method to help is through donations. IRD offers certain tax benefits for such philanthropic actions. This article will introduce the details regarding Donation Tax Credits.   As a donor, you can claim 33.33 cents for every dollar you donated to approved charities and organizations. However, you can only claim on donations that add up to the same amount or less than your taxable income during the tax year. Who Can Claim Donat ..read more

Recently, many of our clients received a bank letter that required them to prove the source of funds in their bank accounts. They had no idea how to prove it, so they came to seek our professional advice. In fact, it relates to Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT).   New Zealand began to implement the AML/CFT in 2013. There are three main purposes of the AML/CFT: the first one is to detect and deter money laundering and the financing of terrorism; the second one is to maintain and enhance New Zealand’s international reputation by adopting, where ..read more

Before operating a business, you need to choose a business structure.   Our service: Incorporating a Company in New Zealand   There are three main business structures in New Zealand: Sole trader, Partnership and Company. Each of them has advantages and disadvantages. For a Company, it must be registered. Compared with the others, incorparting a company is more complicated, subject to more regulations and higher costs. However, a company has advantages that it is an independent entity, the company’s property and the shareholder’s property are separated, and the shareholder’s respons ..read more

Here are some Questions and Answers about financial supports provided by NZ government, including Wage Subsidy August 2021 and Resurgence Support Payment (RSP).   Q: Can you apply the financial supports for me? A: PAS Accounting Firm is available to help customers apply. However, we will charge you when we apply for you, so we recommend that customers can apply by themselves as the application is easy to be done.   Q: Can I apply for wage subsidy as a self-employed person? A: If you meet the criteria, you can apply for that.   Q: Can I apply for RSP as a self-employed person ..read more

Since moving to Alert Level 4 on 17 August 2021, there are four types of financial supports for businesses.   1. Wage Subsidy August 2021   Application time: Applications are open from 9:00am on 20 August 2021 for two weeks and will close at 11.59pm on Thursday 2 September 2021. Payment rates: Due to the increasing minimum wage, the payment rates at this time are: $600 a week for each full-time employee (20 hours a week or more); $359 a week for each part-time employee (less than 20 hours a week). Application criteria: During the period of moving to Alert Level 4 (2021.8 ..read more