Summary of the key Government 2024 budget - Tax changes: Increasing personal income tax thresholds, expanding eligibility for the independent earner tax credit, increasing the in-work tax credit and introducing FamilyBoost. - Interest Deductibility for Investment Property - Bright-Line Test Rules to be set at two years from 1 July 2024 Our summary of the key budget impacts can be found here: https://public2.bomamarketing.com/email/2Lyw ..read more

Whether you have one residential rental property, or a whole portfolio of property investments, we can help you understand and manage your tax obligations. Property is a significant asset, so making sure you are using the most appropriate investment structure is important. With new property tax laws recently introduced, we want to help you understand your options and be aware of potential tax issues when buying and selling property. We can assist you in the following areas: -Advise you on the best structure for your investment before you purchase (standard company, look-through company (LTC ..read more

Growth doesn’t need to mean more risk, more hours, and more headaches. It may be as simple as identifying the opportunities for growth in your business and industry. Once you've done this, you can establish what you and your team need to do to maximise these opportunities and navigate the likely obstacles. Here are a few tips to get you thinking about growth: 1. Conduct an audit to document your growth over time. Analyse all the information you have to understand how you got to where you are now. This will help you plan for future growth. 2. Create a one-page plan with your big objectives a ..read more

The beginning of a new calendar year is an excellent time to review the year just finished, reflecting on what worked, what didn’t, and what changes you'd like to implement. By taking the time to plan, you can ensure that you are on track to achieving your financial goals and are well-prepared for any challenges that may arise.   To help make sure you can take advantage of the financial new year, we’ve gathered some goal-setting tips to consider below that are both simple and effective. Your Yearly Business Review - Questions to consider What were the most significant impacts on your ..read more

Are you on track to receiving the full annual Government Kiwisaver contribution? A reminder that you have until 30 June 2024 to make sure you have contributed at least $1042.86 into your KiwiSaver account to maximise the Government KiwiSaver Contribution top-up. Every dollar counts! Do you need to make a one-off payment to get yourself over the line? So how does it work? If you’re eligible, the Government will contribute 50 cents for every dollar you contribute to your KiwiSaver account, up to a maximum of $521.43 each year. All you need to do is contribute at least $1,042.86 of your own m ..read more

Have you accidentally deleted a bill or voided a transaction and now need to retrieve the information? No problem! Just follow the simple steps below, and you'll be able to quickly locate your transaction within a matter of seconds.  In the “Business” menu, select “Bills to pay” In the search bar, type the specific invoice details, which may include the company name, amount, or reference. Click on the "Filter" icon on the right-hand side next to "Columns." Under the "Deleted & Voided" section, select "Show" from the drop-down menu and then click on the bill to open it. To retrieve the ..read more

View our May 2024 General Ledger: - 2024 Annual Accounts Questionnaires - Goal-Setting for the New Financial Year: Planning for Success - Inland Revenue Important Notices - New GST Rules Affecting Short-Stay Accommodation Providers - Xero: Classic Invoicing Is Retiring - 2 September 2024 - Xero Tip of the Month: Retrieve Deleted or Voided Bills - Tax Question of the Month: Is Expenditure on Newly Purchased Earthquake-Damaged Rental Property Deductible? -  IRD Upcoming Tax Payment Dates https://public2.bomamarketing.com/email/6939 ..read more

In today’s digital age, where travelers turn to the internet to research, book, and review hotels and motels, having a robust digital marketing strategy is vital for these establishments to stay competitive. By embracing digital marketing, hotels and motels can expand their reach beyond traditional marketing channels and tap into a global audience. This allows them to showcase their unique offerings, highligh amenities, and differentiate themselves from competitors in a crowded marketplace. Moreover, digital marketing enables hotels to target specific customer segments and personalise thei ..read more

Did you know that you can use your accounting data to estimate your business' carbon footprint? While carbon accounting may feel new, the demand for it is quickly increasing, with many businesses throughout New Zealand enjoying the benefits, from cost savings and competitive advantage to enhanced reputation through environmental responsibility. The good news is you don’t have to have all your ducks in a row to get started! Xero simplifies carbon accounting with its selection of excellent apps (carbon calculators) available via the online app store, providing you with a streamlined and tran ..read more

In today's highly competitive accommodation industry, hotels and motels face numerous challenges in maintaining profitability and staying ahead of the curve. Fluctuations in demand, seasonal trends, and unexpected events can significantly impact how money flows in and out. Therefore, it has become imperative for hoteliers and moteliers to make informed decisions based on accurate predictions, through the use of effective cashflow management and forecasting strategies. As experts in the accommodation sector, we intimately understand these challenges and can help you develop comprehensive cas ..read more