Innovation in Business Lending
We’re seeing a number of businesses struggling with cashflow this year, sometimes because customers are not paying promptly, sometimes because growth strategies always need upfront investment. The most common form of working capital finance has traditionally been bank overdraft secured over the business and director guarantees, but there are some new players on the block.
The Airbnb Tax - GST on Online Marketplaces
If you provide services through an online marketplace (i.e. a website or an app like Airbnb, or Uber) from 1 April 2024, the online marketplace will collect and return GST on the sale.
Anne's Big News
Our founder, creator, chief strategist, early adopter, and resident hair colour guru, Anne Stephenson is set to hang up the tools at the end
of the month. Mostly!
Anne will remain involved in a part-time capacity (one day per week), working alongside the team on key strategic projects.
In her words “I’m not disappearing off the face of the earth, but will be helping the team with advisory work, and helping NZ
businesses continue to thrive - the fun stuff”.
Trust Tax Rate Webinar
In this webinar we cover a timeline of Trust Law in NZ, the key changes included in the Trust Act 2019, what you need to know is changing, and what you may need to be doing.
Trust Tax Rate Increase
Back in May 2023, the Labour government announced that the tax rate for Trusts would increase to 39% from 1 April 2024. At the time the top
personal tax rate was increased to 39% back in 2021, the government signalled that if they found signs that Trusts were being used to avoid
the higher tax rate, then they would take action. The new government has said they will continue with this tax increase and are unlikely to
reduce trust tax rates within their first term.
Cyber Security
We’ve all heard the buzz words “AI” and “Chat GPT” floating around the last year with regards to new advances in technology. It’s the rise of artificial intelligence which serves as a reminder the importance of have good cybersecurity habits in your business. But what does it all mean? And what impact can a cyberattack have on your business?
2023 Economic Trends: SME Insights
As we enter into the new year, it's important for small business owners to be aware of the economic trends that may impact their operations. Despite inflation likely past it's peak in 2022, we expect it to hang around in 2023 with several implications for small business owners
Departing words from Devoe
After 5 years with Connected Accountants, Devoe is taking the next step in his career overseas in London. Read through his reflection on what has made a difference in his five year journey with Connected Accountants.
It's been 12 months and I've achieved... what?
Doing something over and over even when it fails is insanity. Read through three simple questions that will help
you reflect on the past, find areas of improvement, and innovate into next year.
Keep Your Finger on the Pulse with Smart Reporting Tools
We're diving into the smart reporting tools we use to mitigate problems small businesses face in this tough economy.
These discussed are great resources for small business owners to lean on. Check out the blog to discover how we can help you
keep your finger on the pulse of your business.
Connected Accountants 20 Years On
Founder Anne Stephenson's illustrates the many trials and tribulations experienced in the foundational years, the lessons learnt over two decades in business, and the resilience and fortitude of Connected Accountants today.
NZ Government Budget 2022 - Key Outcomes for SMEs
We’ve delved into the 2022 budget and identified several of the key areas of interest for SMEs to help you understand exactly how this year’s expenditure will affect businesses like yours.
E-invoicing – simple, secure and fast. Are you ready to reap the benefits?
E-invoicing (electronic invoicing) is a government-backed initiative in New Zealand and Australia that reduces processing time and saves on costs. Find out how to reap the rewards of e-invoicing to improve accuracy, security and processing time.
Residential Rule Changes – An indication of things to come
In March 2021, the government announced a number of changes to residential rental tax rules aimed at disincentivising investors from buying existing residential rental properties and making investment into new builds more attractive. Here's what we know
Art Show from Surviving to Thriving
We are long-time supporters of the NZ Art Show and 2020’s show taught us to do things differently. This year we also worked differently to keep within budgets, planning for the worst – but hoping for the best. In fact, we even managed to beat our previous sales figures – with $2mil raised in support of artists!
Sustainable Business is Better Business
A sustainable business focus is no longer the domain of good intentions. More and more future focused SMEs are looking to sustainable business practices to create long-term financial success, brand differentiation and improved social, environmental, and cultural outcomes. Wondering how to make your business more sustainable? Read more here
A Graduate's Perspective
Our graduate accountant Rachel Dickie has written a great blog about life as a graduate accountant that touches on how she coped with covid as a new starter. Rachel talks about how being paperless and in the cloud allowed her to head home for lockdown while still engaging with the team and clients. It’s been wonderful to see Rachel grow in her role here and we are delighted to read that she values her time with us too!
The Four Day Work Week - Final comments from our Directors
We first started our trial of the 4DWW in February 2020. After close to 12 months on trial, we have decided that it works sufficiently well for us to implement it permanently. We’ve had a lot of interest from others about our experiment, so we thought we’d pass on some of our learnings.
The Four Day Work Week - Comments from our Team
Here is were we will be adding our own comments and observations about the four-day work week. Feel free to get in touch if you want to discuss any of these comments.
A trap that causes many businesses to go broke, while they’re making a profit
There’s a saying in business, “You can go broke making a profit.” In this blog post Anne Stephenson talks through common cash problems in business, how you can sleep better at night and what a cashflow forecast will mean for you. We also created a document outlining the top 10 ways you can improve cashflow within your business.
3 reasons your business needs a budget now
For many, the word ‘budget’ is about as appealing as the word ‘diet’. It seems to imply what you will go without, rather than what you will achieve. A budget should be treated like a map and not a diet. Successful business owners see budgets as a way to help
set clear targets that they monitor closely and adjust as they go throughout the year.
In this blog post Anne Stephenson outlines 3 compelling reasons your business needs
a budget NOW!
Election 2020 and what it means for New Zealand taxpayers
Politicians make many promises in the lead up to an election and taxes are always front-and-centre. That's because tax revenue is
what makes the promises possible. The COVID-19 pandemic has created a situation where the government needs to spend a lot of money to
support our health system and to aid our financial recovery.
Steve Dawson has taken a look at the
party tax policies for those at the table, what is likely to happen with Labour in power, and what this means for you.
The link between leadership and wellbeing
Connected Accountants invests in wellbeing and has set about making it a core plank of our strategy. It isn’t a ‘set and forget’ but an ongoing commitment to improve and focus on the wellbeing of our team. We want our whole team to be happy and healthy and for that positivity to be felt by the customers we work with and the community that we operate within. Craig Hudson from Xero recently presented a personal and business case as to why empathetic leadership matters for you, your team, and your business and what you can do to help set the wheels in motion.
Is Open Banking the Future?
Open banking is a global trend that presents opportunities for SME’s in customer experience and business finance. We are on the cusp of radical changes in the financial system that will increase the efficiencies of getting paid, making payments, and securing fairer access to capital. Read more on how these advancements in technology will aid in a more efficienct and improved financial system which enables better advice for better business.
Trust Law Changes - Into the 21st Century
From January 2021 a new Trustee Act will come into effect bringing with it new expectations on trustees. A number of the changes are around the duties, obligations and responsibilities of the trustees to the beneficiaries. With somewhere between 300,000 - 500,000 trusts in NZ, these changes will have a wide-ranging impact. Have a read through what it may mean for you and your family trust.
Effective KPIs
Developing effective KPIs for your business and your team requires a balanced approach that looks at your business from the perspective of all stakeholders.
COVID-19 | Latest Updates
An update of financial assistance available to businesses at 24th of August 2020.
COVID | Danger & Opportunity
Weiji is the Chinese symbol for crisis, often said to include two concepts; danger + opportunity. Whether that is true or not, it certainly includes the idea of being at a point where things change and there is no doubt that we’re in that spot right now.
COVID Update | Plan to Recover
An update and some practical tips on making the most of the business support available from the government and banks. Plan now to position your business to recover with strength.
Covid-19 - Advice for Better Business
Surviving Covid-19 >> practical tips for better business
Help Available to NZ Business - COVID-19
In response to COVID-19 the Government is acting to support the economy, with a particular focus on small businesses, supporting employees, and taxes. The package includes wage subsidy schemes, leave and self-isolation support and business cash flow and tax measures. More info within...
Naming your business
Choosing a name is an important step in getting your business off to a great start. We sat down with Richie Connell of Thrival Partners and Matthew Hayes of AJ Park to see what they think is important.
The four-day work week - a trial for Connected Accountants
The four-day work week is a popular topic at the moment, and we have been listening. We have looked at the studies. So lets give it a crack.
It's been 12 months and I have achieved what?
Doing something over and over even when it fails is insanity. Here’s 3 simple questions that will help you reflect on the past and plan for the future.
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Documenting your sales process
Businesses that follow a documented sales process generate more revenue. What’s your process? How do you ensure you and your […]
How to pick the right add-on apps for your Business
In today’s technology crazed world, there are apps to solve problems you’ve never even heard of. With over 500 different […]
Breaking News! Kevin & Anne are now Connected Accountants.
After meeting over wine & food at the Xerocon 2017 wrap party in Melbourne it’s now official! Read about our merger and what this means for us as a firm.
Will you outlive your savings?
Our life expectancy has increased significantly over the years so our retirement nest eggs need to be larger. Investing in […]
Being a ‘small’ business does not mean you are hidden
Here’s just a few ways you can minimise the potential threat of a cyber security breach that could but both […]
Capital Gains tax is off the table
Recently you may have seen in the news the recommendations made to the Government. They have finally taken a look […]
Automatic tax refunds for wage and salary earners – 2020 financial year
There are going to be a few changes for this up and coming financial year (2020). From the 1st of […]
Business With Purpose: Improving Staff Engagement, Productivity & Profitability
In the 75 years since Maslow published his Hierarchy of Needs in 1943, there has been generally acceptance that people […]
Changes in Payroll filing requirements
If you’re calculating pays and filing PAYE manually, your admin workload is about to double. Here’s how you can get […]
Residential Rental Losses – A Change is Coming
Earlier this year, IRD released a paper on the proposed ring-fencing of rental losses, expected to come into effect for […]
AIM – The New Way To Pay Tax
Intended to help ease cashflow for small business, there’s a new way to calculate how much tax to pay from […]
Year End Tax Planning Checklist
The end of the financial year is fast approaching. This is a good time to consider your year-end accounting and […]
Making Tax Simple - Changes for 2017
In last year’s budget there were a number of measures designed to simplify the tax processes. These have now been […]
Getting Stuff Done
We ran our first business forum last week covering off an old perennial problem – how to stop doing the […]
The Taxman Cometh
We have been noticing increased IRD investigation and review activity over the past year. This is not unexpected because the […]
The 7 Day Start-Up
If you’re a new business, or want to start a business and don’t know where to start then this book […]
Wrong answer, Dean Barker! (Campbell Live Fail)
Dean Barker still in the ‘woe is me’ phase gets interviewed by John Campbell (Campbell LIVE is so much better […]
Then I just walk away.
Remember that ad with the Chinese guy that sprays the moss on his path, or whatever it was, then just […]
How to pay more tax: Be Sloppy.
Every single person that I come across wants to pay less tax. Nothing wrong with that. It’s always been my […]