Budget 2023 – Households
Most Budget 2023 changes affecting household budgets centre on younger families. The 20-hours free early childhood education (ECE) currently available to 3-5-year-olds is extended to include 2-year-olds, with more money for teachers and childcare centres as well. This may free up some parents for greater workforce participation and ease household budgets. But as interest rates […]
Budget 2023 – Business Outlook
Business owners may continue to feel glum about their risk to reward ratio following Budget 2023. If cost of living pressures on households ease, increased consumer spending power will be welcome to retailers. Infrastructure repair and development, increases in public housing and private construction may stimulate demand in the construction sector and downstream industries. Recovery […]
Accelerate Budget Special Alert 2023
‘Support for today building for tomorrow’ Like the rest of the world, New Zealand has reeled from the aftermath of Covid, rising inflation and interest rates, and the cost-of-living crisis. This year we also have a massive storm damage repair bill. The 2023 Wellbeing Budget was distinctly lacking in lolly scramble. Treasury believes we have […]
IRD increases visibility of sales data
From April 1, 2023, payment service providers (i.e. EFTPOS providers and online payment platforms) must provide information to Inland Revenue every six months on all transactions processed. Inland Revenue will compare this information with what businesses have filed in their tax returns. They will follow up on any discrepancies in these comparisons. Disclaimer: This blog […]
Looking to invest in R&D this year?
The Ministry of Business, Innovation & Employment has announced that businesses performing eligible research & development can access faster and more frequent payments of the R&D tax incentive this year. What is the R&D tax incentive? The scheme provides a 15% tax credit to businesses conducting ‘eligible’ R&D activities and has supported more than $1 […]
D-Link routers under attack
Although it’s the least visible piece of office equipment, wireless internet routers are increasingly being targeted by cybercriminals. The Mirai malware botnet variant known as ‘MooBot’ has re-emerged in a new attack wave, targeting vulnerable routers made by D-Link. Users of compromised D-Link routers might notice a slowdown in internet speeds, unresponsiveness, overheating, or unusual […]
Beware of cyber scams
Digital tools can help your business become more efficient, save time, and win new customers, but there are also dangers to watch out for. Cyber-attacks and con artists could target any small business in New Zealand. Here are the latest risks: Facebook danger One sophisticated Facebook scam has ensnared 10 million users. Millions of people […]
Should your business go ‘remote-first’?
Since the last of New Zealand’s lockdowns, many businesses have ditched remote working for good. But what are the benefits of taking a ‘remote-first’ approach? Around the world, an increasing number of companies are making remote working the default option for staff, abandoning the office completely in favour of a more flexible model. With a […]
Get paid faster with eInvoicing
If you’re tired of chasing invoices and late payments, eInvoicing could make your life easier and save you money. With eInvoicing, digital systems talk to one another seamlessly over a universal network, ensuring payment information is exchanged more quickly and accurately. Businesses no longer need to generate paper-based invoices or email PDFs, and buyers won’t […]
Customs rules are changing
Import supplies? Customs rules are changing In the past, the New Zealand Customs Service has allowed businesses to combine the value of small shipments containing a number of low-value items, such as spare parts, when the value for duty of any item listed on an invoice did not exceed the equivalent of NZ$25. Historically, Customs […]
