Paying tax on your shares

Investing on a share platforms like Sharesies or Hatch? Should you be worried about paying tax on your dividends or when you sell? We have some tips.

Is it time to fire a client?

Do you have clients who take up too much time and bring in too little money? It might be time to rank your clients and say goodbye to a few from the bottom of the list.

The Holidays Act is changing – but you’ll need to comply in the meantime

The Holidays Act 2003 is getting an overhaul – but you’ll still need to be compliant in the meantime. We can help you navigate this tricky piece of legislation and get your holiday pay correct.

What small businesses can learn from their competition

They say competition is fierce, but we think it’s one of your greatest assets when starting up a new business. Find out what invaluable information you can learn from your competitors.

Surprise tax bill? Six possible reasons

Did you, or someone you know, get a tax bill they weren’t expecting? Inland Revenue has released a list of six possible reasons. We can help you figure out which one might apply, or why your bill isn’t what you expected.

Fees on utes - Three things you need to know

EV feebates will hit utes the hardest – three things you should know if you’re in the market for a new ute for your business.

Using the Value Ladder to increase sales

It’s essential to build a relationship with customers and provide value before you extract value. From Russell Brunson’s Dotcom Secrets, the Value Ladder shows that the stronger the relationship between you and your customer, the more they’ll spend.

Instagram for marketing your business

Whether you’re a small sole trader, a freelance influencer, or a well-established business brand, there’s considerable value to having a meaningful presence on Instagram.

Search Engine Optimisation for small businesses

With an estimated 130 trillion webpages identified by Google, how do you get a look in? Search engine optimisation (SEO) is all about providing internet users with the best experience and maximising your ability to be seen.

Upsizing or downsizing? We can help with the forecasting

Are you looking to either scale up or downsize, your business? We’ll help you review your existing business plan, run scenarios and forecasts, and look at the most appropriate strategy for your future. Learn more here.

Achieving your goals with the rocks, pebbles and sand mindset

Struggling to achieve your goals? Try the rocks, pebbles and sand concept to set your annual goals (rocks), 90-day goals (pebbles) and actions required (sand). Your goals will drive your day-to-day tasks, ensuring your goals are achieved! Check it out.

Handling staff shortages

NZ economist Tony Alexander surveyed 22,000 of his Tony’s View subscribers recently asking what issues they were facing around staffing. He collated 170 responses, some of which he described as excellent, and shared those. Check out some of the key findings here.

The drive to survive

Thomas Ziegler, leader of Moore Global’s automotive group, considers the impact the shift from combustion engines to battery powered vehicles will have on the global supply chain.

Car dealer forecourts are bustling but big challenges are round the corner

Auto sales have bounced back and prices and profits for dealers are sky high. However, a looming supply shortage and influx of new technology players threaten the revenue models of traditional franchises.

Stick or twist

Suppliers in the automotive industry have a dilemma: continue to develop systems for traditional cars or gamble on electric vehicles which make up only a fraction of global sales.

How to protect your business from being held to ransom

Ransomware attacks can cause huge disruption to your business, including loss of income, customer trust and resources.

Tax for ‘cashies’ in construction

Inland Revenue is currently engaging with the construction industry to ensure they’re ‘getting it right from the start’ around tax obligations if they undertake cash transactions.

Sick leave up from 5 to 10 days

From 24 July 2021, employee sick leave entitlements increase from 5 days per year to 10 days per year

Paying Inland Revenue correctly

With Inland Revenue no longer accepting cheques, more taxpayers are moving to online banking to pay their tax bills – and this has been a learning curve for many.

Residential property investors feeling the hurt of new reforms

While most of us can accept the Government’s intentions of tipping the balance away from speculators and back towards first home buyers, the new property tax changes are going to hurt ordinary New Zealanders, mum and dad investors, and in reality, tenants themselves as the cost of providing rental stock rises to investors.  We share more here.

Does the extended bright-line test or the phasing out of interest deductions affect you?

The Government has released a 143-page discussion document outlining details on how to restrict interest deductions on residential investment properties - affecting around $82 billion of debt in New Zealand.

Financial support for business affected by Wellington Level 2

Businesses affected by the recent Wellington Alert Level 2 may be eligible for Government financial support. There is also support for people who cannot work from home while a business may be closed or who are self-isolating.

The inconvenient truth about sustainability

Technology needed to meet 2050 global emissions targets is not ready but there are five steps we could take now that would make a big difference.

LNG: is the answer to sustainable shipping staring us in the face?

Shipping would be the world’s sixth largest polluter if it was a country. Powering vessels with LNG could cut emissions by 30 percent but it is controversial.

A human element is vital in the technology revolution

The global pandemic has forced business owners to confront the shortcomings of their legacy systems and embrace the edge that Artificial Intelligence (AI) and Big Data gives them. However, it’s important to remember that relationships will always be critical for sustainable growth.

BUDGET 2021 – SECURING OUR RECOVERY

This time last year, the Budget dealt mainly with the Government’s economic response to the COVID-19 pandemic with support for business very much to the fore. In 2021, that focus has shifted to improving the wellbeing of New Zealanders and, in particular, those on the lowest incomes.

Introducing Xero ‘gun’ Gemma

Gemma Sheen has returned to our team after time out to have four children. At the same time she was keeping her hand in, particularly working with Xero. She’s now our Xero consultant – a gun for hire for clients, helping with all things relating to Xero.

A gentleman and believer in doing the right thing

Our Hawke’s Bay team was saddened at the recent death of Basil Brooker, a former director of our firm and long-standing and very respected client advisor, auditor and team member.

Paragon NZ | Keeping a clear eye on business key to PI success

Veteran private investigator, Ron McQuilter came to New Zealand from Scotland 38 years ago. Using his policing experience, he set up Paragon NZ, a private investigation and security consultancy that operates throughout the country.

3r Group | Waste not

Like many great Kiwi ventures, this one began in a humble shed. Concerned at the amount of agrichemical and paint containers ending up in landfill, 3R Group’s founding partners set out to find a better solution.

Paremata Auto Services | New owners bringing fresh drive to motor business

After a false start due to Covid-19, Simon Munro and his partner Charlotte Cudby, have bought Paremata Auto Services, with the added bonus that it’s just down the road from their home.

Malcolm James Furnishings | Furnishing Dunedin for 40 years

When Malcolm James sold his original, 25-year-old flooring business in 2007 for “an offer I couldn’t refuse” he started all over again building his second business from scratch, Malcolm James Furnishings.

Cheques being phased out

All major banks will stop issuing and accepting cheques over the coming months. It is important your relevant staff and your customers are aware of the key dates.

Heads up for large charities & NFPs

Larger charities and not-for-profits will be required to formally report service performance information as part of their year-end financial statements for financial years ended 31 December 2022 onwards. Now’s the time to start thinking about how best to achieve this.

Traps when buying a used car

While the process of buying a used car is usually completed without legal advice, it’s useful to refresh the checklist of the key points you should follow. This is particularly important if there is no intermediary overseeing the purchase.

COVID-19’s latest victim: tax loss carry forward rules

During the early days of the COVID-19 pandemic, the Government relaxed rules relating to carrying forward tax losses. The thinking being businesses requiring new capital investment would not forfeit tax losses. This change is now law.

Fair market salary reminder

A business needs to pay employees a fair market salary for their personal service. Given the 39 percent personal marginal income tax rate on income over $180,000 now in place, Inland Revenue’s scrutiny of such salaries is expected to increase.

Need help with your tax payments?

Tax pooling is a way to pay provisional tax by either chipping away at what you owe in instalments or deferring the whole amount to a payment date that suits you, without incurring Inland Revenue late payment penalties or interest.

Penalising R&M

Classifying expenditure as either deductible repairs and maintenance (R&M) or non-deductible capital expenditure is not clear cut. It is a question of fact and no two situations are the same. And while its advantageous from a tax perspective, when is it pushing ‘the line’ too far.

10 ways to lift your margin

There’s always room for improvement at the margin; small tweaks can massively boost your bottom line! How much extra would a 1% increase in gross margin give you?

The Five ‘A’s of Change - achieving continuous improvement

Covid has been a powerful catalyst for change. Going forward, how can we consciously use the process of change to continuously improve our business? Use the 5 ’A’s of Change: Awareness, Acceptance, Action, Accountability & Acknowledgement.

New superannuation rate: are you on track for retirement?

NZ superannuation has just increased – are you on track for a comfortable retirement? It could be time to start making a few changes that will set you up for a better future. The sooner you start, the more you can build your retirement savings.

Is property still a good investment?

It’s becoming more expensive to own rentals, so is property still a good investment? The costs and risks may have risen, but it also has one distinct advantage…

Do you need better access to funding?

If you want to strengthen your capital position, now’s the time to act and to start thinking about your funding needs as a company. Talk to us about creating a funding strategy.

Minimum wage: expect more increases

The minimum wage hike is now in action – and it’s increased every year since 2000. This is a great time to review your pricing as costs rise.

Supply shortages – some of them surprising!

COVID-19 has fundamentally disrupted global trade to the point there are product shortages starting to play out. You might be surprised at some of these.

Business interruption due to Covid-19

Inland Revenue has set out a ‘draft’ view on to what extent businesses can claim tax deductions for expenditure incurred while impacted by Covid-19. Your comment is welcomed – the deadline is 28 May.

Employment recovery

Over a year on from NZ’s level four lockdown, there have been some both highs and lows for businesses and communities. Employment levels slumped to an eight year low in September 2020, with over 150,000 unemployed people. So nearly six months on, how does the job market stack up now?

Otago welcomes new babes

Congratulations go to Tom and Anna Offen and Heath and Terri Copland on the birth of their babies in recent months. James Thomas Offen was born on 17 March and Astrid Sailor Copland a month later, on 16 April.

The Big Pivot

Manufacturers and distributors who made a Big Pivot to embrace technology and reshape supply chains after Covid hit have seen revenue, profits and productivity rise.

Vodcast with Mark Fagan, Moore Global leader in manufacturing and distribution

"Companies realised, with Covid, they had real risk with supply chain concentration," - Mark Fagan, Moore Global leader in manufacturing and distribution.

Lighting the fire under $3 trillion of dry powder

Private equity investors have $3 trillion to invest in smart manufacturing and distribution companies. Moore experts explain how to get their backing.

Why having a shareholders’ or partnership agreement is vital

Going into business with your brother, best mate, your parent or with business colleagues is exciting but also has the potential to end badly. An agreement in place at the outset helps identify all the worst-case scenarios so that should a dispute arise or the unexpected happen, you’ve already agreed on the best way to handle things. We share more here.

Morrison Design | Designers in demand

Covid-19 put construction projects on ice and sent shivers through the economy, but Wellington firm Morrison Design says there’s been no cooling off in demand for its services.

Clifton Glamping | Happy glampers

The Covid-19 pandemic squashed international tourism, but Clifton Glamping in Hawke’s Bay is busier than ever as home-grown glampers rush to fill the gap.  

Electrical Importing Company | NZ ‘David’ standing strong against Goliaths and pandemic

Electrical Importing Company is considered an alternative supplier to the industrial electrical sector - the only NZ owned and independent ‘David’ up against multi-national ‘Goliath’ competitors.

Sumich Plumbing and Drainage | Summiting 30 years of service

Sumich Plumbing and Drainage is celebrating 30 years, testament to its resilience throughout economic recessions, construction market fluctuations and now, a global pandemic.

Three Tree Landscaping | Kick starting in Covid

Stefan Curry leapt into starting his own business Three Tree Landscaping one month before the Covid-19 pandemic put NZ into lockdown.

Advintage Wines | COVID advantage for Advintage

Hawke’s Bay-based online wine merchant Advintage is toasting a record-breaking year after locked-down Kiwis flocked to the web for their wine fix.

The importance of ‘reconciliation’

Reconciliation is a fundamental accounting process that ensures your financial records are accurate and complete. But it is surprising how many businesses do not undertake them. We share why this process is important and how it can help your business thrive.

Directors’ duties key in Covid

Company directors have a legal duty to not trade recklessly or take on obligations that their business cannot perform. Balancing the continued survival of a company versus their obligation against reckless trading has been a key feature of the Covid-19 economic environment.

New trust annual return requirements

Trusts will soon be required to provide an ‘annual return’ to Inland Revenue disclosing various trust information. Applying for the 2022 income year onward, IR can also request the same annual return information for any period between 2015 and 2021 income years.

An extra bolt on the door

Since COVID-19 started, there has been a dramatic increase in the number of cyber-attacks around the world. We share details of Xero’s mandatory multi-facet authentication about to be introduced – putting an extra bolt on the door to help keep your data secure.

New year’s aspirations

A shake up in the job market this year is likely – research indicates that nearly 385,000 adults will look to change their job in the coming year. Although not all will pursue their own business ideas, there is growing support for entrepreneurs.

The 39 percent rate change

The top personal marginal tax rate increases to 39 percent on income over $180,000 with effect from 1 April 2021. Businesses should consider what the flow-on effects are and forward plan to ensure they are not caught off guard.

Are you aware of the low-value asset threshold change?

We want to alert you to a low-value threshold change that comes into effect on 17 March.

Latest financial support for Covid-19 disruption

There is a range of additional and extended support available to NZ businesses in light of the recent change in Alert Levels.

The dangers of discounting

Offering a discount might seem like a great way to respond to a drop in sales, but it's a race to the bottom. Get in touch to discuss strategies to respond without discounting your product or service and maintaining your gross profit.

Leveraging your technology

Using technology to streamline your processes and systems increases efficiency, saving time and money, and reducing stress. We can help you identify how to use technology to make your business more sustainable, scalable, and saleable?

Tracking your marketing results

To get the best return from your marketing investment, you need to analyse the results. Build marketing metrics into your management reporting, so you can ensure your budget works harder.

Planning for seasonal income dips

Struggling with seasonal dips and poor cashflow? We’ll help you identify the timing of your seasonal downtime and create a strategy for stabilising your income across the year.

COVID-19 assistance round-up

While a number of Government initiatives to assist businesses have ended, there is some financial support still on offer. We share information here.

Impact of Covid-19 on transfer pricing policies

The continued economic impact of COVD-19 across the globe has naturally forced or accelerated the process of businesses to review their existing operations and commercial arrangements. ​

How Covid has brought humanity back to business

Covid causes unprecedented uncertainty and anxiety but it has also shown how kindness can re-energise employees and leadership teams.

4 key technologies to transform how the world does business

Artificial Intelligence, robots and augmented reality are all set to transform how the world does business.

Smart technology is helping companies survive the pandemic and driving an M&A boom

A digital revolution among small and medium size enterprises worldwide is accelerating at an unprecedented pace as business owners invest in data analytics and automation to survive and thrive in a fiercely challenging environment.

Reimbursing employee working from home costs

Here’s how you should be treating employee reimbursements for tax for those working from home this year

Promoting from within

Over the past eight months, we have made several changes within our Markhams Otago team, proudly promoting from within to provide opportunities to move into different roles.

Small Business Cashflow (Loan) Scheme changes

On 10 November, the Government announced changes to the Small Business Cashflow (Loan) Scheme.

New $40 Million COVID-19 Fund Opens

If you’re an iwi, hapū or community that has a social initiative to keep NZ safe and resilient, you should check out this new fund worth $40million to support community and social initiatives, marae, community facilities, heritage, environment activities, outdoor safety, health research and individuals with disabilities.

Strategic alliance: the benefits of working together

Strategic alliances are all about finding the common ground. If you share the same customer audience and create a complementary way of meeting their needs, you can significantly expand your target market.

Is the grass greener over the ditch?

We compare how Australia and New Zealand are planning to combat the effect of COVID-19. The strategies, the investments and other help for business.

How to work effectively as a trustee

If you are a trustee, you should be well aware that the Trust Act 2019 comes into effect at the end of next January. You should also be aware that there are changes that affect you and your responsibilities. 

The first way to grow your business - increase customer retention

Did you know it's six times easier and cheaper to sell to existing customers than new ones? What are you doing to delight your customers?

How to treat employee accommodation for tax purposes

The treatment of employee accommodation (and taxable allowances) can be confusing. We share some insights to clarify the tax obligations.

Thinking of buying a business? Things to consider

Looking to buy a business? Good independent advice will ensure you make an informed investment. We can give you assistance in analysing the financial performance and potential of the business, so you can make the best decision possible.

Financial help for small Māori-owned businesses extended

The $10million Māori Trustee Top-Up Small Business Cashflow Loan Scheme, has been extended until 31 December 2020. To date almost $1m has been paid to Māori-owned SMEs.

Time wasters to avoid

Struggling with disruptions, shifting priorities, and frustrating re-work? Streamline your processes and boost your efficiency. Here’s some thoughts on how.

Election outcome and tax policies

Labour has ruled out a capital gains tax and an increase in fuel taxes but is prepared to introduce a Digital Services Tax to target multinational digital businesses who have taken advantage of tax structuring options.

Demystifying your Balance Sheet

Unclear on the story your Balance Sheet tells? Don’t know how to calculate key ratios to measure the strength of your business? We can help demystify your Balance Sheet. The stronger it is, the stronger your business will be.

Callum Hayde – building relationships to help businesses thrive

Markhams Otago’s newest director Callum Hayde believes he has the experience ‘on both sides’ to understand his clients and their needs: as a chartered accountant and advisor and as business director who in the past year has faced the challenges of Covid-19.

What millennials want from work

Generally, a work / life balance has always been among the top priorities for millennials, and while this remains true, the desire for work-life integration has emerged.

Building confidence and self-belief, benefits of Outward Bound for Caeli

Caeli O’Brien is happy to tell anyone that Outward Bound is an incredible, not-to-be-missed opportunity.

Building an e-commerce site for your business

If you are selling your products and services online, you'll need an e-commerce site. Make sure your site has all the functionality to make it easy for your customers to buy from you.

Building a Better Business in 10 Steps

There’s no magic bullet to building a better business; it’s about taking small steps every day to get a bit better than the day before - it all adds up! Get in touch to find out more.

Adopting an Atomic Habits mindset

James Clear’s book, Atomic Habits, is a Gamechanger. If you struggle to make habits stick, stop focusing on habit outcomes and consciously adapt your identity to be the person that aligns with your habit.

Restructuring or selling your business? We can help

With a completely different business landscape in front of us, business owners are under increasing strain. If you are being kept up at night deciding what the best strategy is, get in touch. We are here to help.

Balance passion and planning when you pitch for funding

Seeking outside funding can be scary. But if you combine passion, a solid plan, and detailed financials there’s nothing to fear. We share thoughts on how to prepare the perfect pitch.

Outstanding invoices? Here’s how to get paid

Frustrated by unpaid invoices, but dreading the follow-up? We can help, with simple, effective techniques – and credit check services to help you avoid the issue in future.

Setting sales targets

How do you set attainable sales targets in a crisis? We’ll talk you through your business aims, profit goals, and historic sales performance, to set targets that truly deliver on your goals.

Cutting costs or increasing your prices? We can help

With more than 85 percent of SMEs expecting a lower profit in the next nine months, the more prepared you can be for the unexpected, the better. Talk to us about smart ways to get your costs under control or whether you need to increase your prices. We share thoughts here.

Top tips for building a strong company culture

A strong company culture underpins all successful, resilient businesses. But how do you develop and maintain a good company culture? We share some This article has some top tips.

The difference between restructuring and redundancy

If your business is looking at restructuring and possible redundancies, you need to understand the difference so you can get the process right and avoid complications, delays, or personal grievance claims.

Managing debt in your small business

Debt is a business risk, but it is also a positive tool that is usually necessary to fund your growth. When debt levels grow, we can help you put a plan in place to manage it.

Get in control of cashflow

Does your business need to improve its cash position? Poor cashflow is a problem for many businesses, whether you’re a start-up or an established family business. Talk to us about how you can get proactive with cashflow management.

Negotiation essentials – what you need to know

Negotiation is part of business. Whether you’re the supplier or the buyer, it pays to know how to do it. The best negotiations result in a win for both parties – here are five important steps to help get you there.

What you need to consider when buying a business

Looking to buy a business? Good independent advice will ensure you make an informed investment. We can help you analyse the financial performance and potential of the business, so you can make the best decision possible.

Understand customers' shopping habits using cookies

The more you know your customers, the better you can serve their needs, and cookies help you do this in the digital realm by collecting the most useful data about your customers and prospects. So, what are cookies?

Staying on track with your personal budget

Don’t set and forget your Personal Budget. Monitor your progress to achieve your goals. Dedicate one hour each month to track how you’re progressing towards your budget. Need accountability? Get in touch.

Pharmacy owners - benchmark your business to do better

For almost a decade, Moore Markhams has conducted an annual national Pharmacy Benchmarking Survey.

Trusts and beneficiaries – what the new Act requires

We’re becoming aware that there is some misunderstanding among clients about what the new Trusts Act requires around trust beneficiaries and their rights. We outline some key facts to help clarify any confusion.  

Does your business have a CRM tool?

Having clean, up-to-date information and data about your customers is a vital part of running your business. But recording, tracking, and accessing this customer information can be tricky if you don’t have the right tools to get the job done.

Create a business plan in 10 steps

Your business plan is a roadmap for your business. Outline your vision, set goals, define funding and budget, forecast sales and cashflow, set timelines. Talk to us to create a watertight business plan.

Mentors are worth their weight in gold

Mentors can offer guidance, act as a sounding board, challenge thinking, and provide business owners with an independent and fresh perspective. Talk to us about finding a mentor for your business.

Common employment agreement mistakes

The employment agreement is the legal basis of the relationship between you and your employee, so you want to get it right and avoid some of the most common mistakes.

How NOT to manage working from home

How do you adapt the traditional working day to suit a remote workforce? The best place to start is to ask employees for their feedback. Here are some common practices that don't replicate to the home office.

How to run a better virtual meeting

Struggling with long virtual meetings? We all feel energised after an effective meeting, so keep your team productivity high by running better meetings.

Succession planning for small businesses

It’s a good idea to think about your succession plan long before you need to sell. With a plan in place, you can maximise the value of the business and achieve a better outcome.

Take some small steps to better wellbeing

Research shows that doing something (no matter how small) is the best way to manage anxiety. There is a lot we can’t control right now but there are also things you can. Here are some ideas.

Handling an employee complaint about another employee

Ignoring an employee’s complaint about a co-worker can harm your staff and your business, so you need to know how to handle it. We share thoughts to guide you through the complaint process.

Mexicali Fresh | Riding the Mexican Wave

Serving up a taste of Mexico in the art deco streets of Napier has been a winning move for Mexicali Fresh franchisee Maggie Donnelly.

Long Dog Cafe | Loving lifestyle change despite lockdown

Customers flock to a beachside café in Dunedin because they know they can rely on it being a top-quality experience.

Financial crime prevention highest rated auditor

Stuart Hansen is one of Australasia’s highest qualified Anti-Money laundering specialists having recently completed the CAMS-AUDIT qualification.

Dan new Unison Board member

Our director, Dan Druzianic has been appointed to the Unison Networks Limited Board in May. Unison’s core business is in electricity distribution.

New tax specialist joins our team

If your tax matter is a transaction out of the ordinary or when getting it wrong could be quite costly, then Ashleigh Gilmour is here to help.

Healthy Homes costs deductions

We share IR guidance on the deductibility of costs to bring residential rentals up to new legislative standards.

Take a break – boosting your team’s morale

Now that an escape to the islands or a trip further afield to warmer climes is not possible, how can employers boost morale in this time of uncertainty?

FBT on vehicles during lockdown

You wouldn’t be blamed for assuming FBT wouldn’t apply to motor vehicles during the recent Level 4 lockdown period. Right?

Accounting for COVID-19

Some companies have implemented ‘alternative’ accounting methods to adjust their financial results for the impact of COVID-19.

Don’t let your passport expire

Even if you’re not planning on travelling, having an official document with your photo is very important, particularly to meet AML/CFT requirements.

Outward Bound grows mana

To say that Outward Bound put Tawa College student, George Te’o out of his comfort zone would be an understatement.

Are you ready for the new laws around Trusts?

Do you have a trust or are you a trustee?  The new Trusts Act 2019 came into effect on 30 January 2021 with legal requirements that are more prescriptive than in the past.

Help us to do our best for you

At Moore Markhams Hawkes Bay we seek to adapt to the fast-changing world we find ourselves in, identifying solutions to challenges, and innovations to effectively meet your needs.

Wage Subsidy audits – what you need to show

The Ministry of Social Development has a team of 120 auditors who are now auditing businesses on their use of Wages Subsidy payments.

Understanding working capital to maintain business success

Cash is oxygen for your business and measuring working capital is your regular health check to keep your business alive; especially in turbulent times.

Review your expenses – and save yourself money

Need to reinvent your expenses? We’ll review your current costs, find the expenses that could be cut, and will provide a proactive spend management programme to reduce your spending.

Create a one-page business plan

Need to revisit your business plan? We can help guide you through the threats and opportunities that lie ahead, with sound financial management at the core of your plan.

The fundamentals of a business budget

We believe having a budget is essential for business success. Talk to us about creating a useful budget in your accounting software as a practical business management tool. We’d love to help you start planning for a great 2021 financial year!

Slow payers cost you real money

Growing electronic connectivity between small businesses, accountants, and financial institutions coupled with cloud accounting and traditional methods will help your debtor management.

Tracking your online success with Google Analytics

Do you know how your website is performing, and where online visitors come from? If you are serious about exploring your online analytics, Google has courses that teach you the basics, so you can enhance your online presence.

Efficiency through automation

Technology can be transformative: improving leverage, consistency, efficiency, risk management, induction and training, scalability and saleability. What software have you adopted Post Covid as part of your Business Recovery Plan?

What are your critical numbers?

The Covid-19 crisis has created a ‘new normal’ for businesses. Traditional ways of working are being challenged and we now need to innovate, adapt, re-engineer, and reinvent the way we work.

Understanding your revenue drivers

How well do you understand your revenue drivers? We can help you review the numbers in your business, identify your revenue drivers, and will help you enhance your total revenue as a company.

Ethical marketing – seven keys

Ethical marketing is simply the line drawn between moral and immoral advertising to your customers.

How to handle bad reviews about your business

When was the last time you made a purchasing decision based on positive customer reviews? Most of us can remember when we decided NOT to buy something based on negative reviews. It works both ways.

Using testimonials and case studies to transform your business

Good reviews are gold for your business. You can spend all day telling people how wonderful and great your product or service is, but what they really want is proof.

Blockchain: innovation for businesses

What exactly is 'blockchain' technology? And how could it have a positive impact for your business?

How to write engaging content for your marketing

Content marketing is a key weapon in your company's sales and digital marketing armoury.

Facing challenges? Change your mindset

In today's world, we are constantly having to tackle new things and learn new skills. It can be overwhelming,... if you let it. Next time you feel like saying ‘I can’t do it’, replace it with ‘I can’t do it, yet’.

Never has the entrepreneurial spirit had to burn brighter

They say never waste a good crisis… and, that if there is a better way to do something (think stale processes), find it now, when the fan is already covered in proverbial. 

5 proven ways to get your store to stand out

Retail is becoming increasingly competitive and consumers today have a lot more choices when it comes to where to shop. Coming up with ways to make your store more memorable is essential.

Support for farmers

Farmers under financial strain now have access to extra support and guidance. The Farm Debt Mediation Scheme came into play on 1 July and provides mediation services to help farmers and their creditors work through debt issues.

The wage subsidy extension - what you need to know - closes 1 September 2020

Businesses affected by COVID-19 can apply for support through the Government’s wage subsidy scheme. Those still affected have until 11.59pm on 1 September 2020 to apply

Retention plans to keep customers happy and boost sales

With many businesses struggling to achieve pre-Covid sales levels, and the potential for unemployment to spawn a new breed of start-ups, having a customer retention plan has never been more important.

Reinventing your product and service offering post-Covid

How will you innovate, re-engineer, adapt or widen your lane post-Covid? From tech adoption to product development and blowing up stale processes; a crisis forces change. How are you innovating for your business recovery?

11 Strategies to maximise your cash reserves

The Covid-19 crisis has highlighted the inadequacy of current cash reserves for many business owners - they simply don’t have enough cash to sustain the business in a crisis.

Support for commercial rent disputes

Many commercial lease arrangements in New Zealand have been affected by the response to COVID-19. Tenants may be unable to pay their rent as their business is not fully operating or generating sufficient income. Landlords may also be unable to meet their mortgage payments.

Payments to staff for costs incurred working from home

Some employers have made, or intend to make, payments to employees to reimburse costs incurred by their employees working from home during the COVID-19 pandemic. Inland Revenue has clarified the tax treatment of such payments made from 17 March 2020 to 17 September 2020.

Wages Subsidy extension

The Government is extending the Wages Subsidy with applications opening on 10 June 2020.

How business debt hibernation can help your business

Business debt hibernation is a government initiative that helps companies, trusts, and other business entities affected by COVID-19 to manage the debts they currently have.

How to create a cash flow forecast for your business

A cash flow forecast is an important tool for business planning. And right now, understanding the cash coming in and going out of your business is vital.

2020 Drought Recovery Advice Fund open

New drought analysis shows this year is one of the most severe on record for parts of the country, and it has hit the primary sector hard.

New Zealand: Small, Simple, SMART

New Zealand may be small in size, but when it comes to innovation, intelligence, integrity and ease of doing business, we are a big hitter.

How do you invoice during a crisis?

It’s not easy to request payment right now but it is important to keep cash flowing into your business. As with all business dealings at them moment, a little empathy and a lot of open communication can go a long way.

How to strengthen your supplier relationships

Keeping your relationships with suppliers positive is crucial if you rely on them to help you keep your customers satisfied. Here’s some suggestions to keep things on a steady course.

Cashflow and cost control crucial now

Keeping everything running is the priority for now, whether you’re in recovery or growth mode. Regular cashflow forecasts will help you make informed decisions. And controlling your costs will potentially free up cash. We share more here.

How a SWOT analysis can help your business

The more you understand about your business, your market and your competitors, the better prepared you are. A simple SWOT analysis can be an invaluable tool in your strategic armoury.

Business sustainability in uncertain times

What could your business look like from here? Can you streamline your setup for smooth, secure online interaction? Talk to us about building sustainability in your business.

Tax changes in response to Covid-19

In addition to the tax loss carry-back scheme, the New Zealand Government has introduced various tax changes to assist businesses and individuals to get through COVID-19.

How carry back of tax losses can help you through COVID-19

As part of the Government’s Covid-19 response, on 30 April 2020 legislation was passed under urgency that allows tax losses to be offset against income derived in a previous year, thereby enabling the taxpayer to obtain a refund comprising prior year income tax paid. This temporary tax loss carry-back scheme is available to most taxpayers, e.g. trusts, companies and individuals.

Business structure – is it right for our ‘new normal’?

The challenges surrounding our current business environment caused through the COVID-19 pandemic has made many owners question whether the structure of their business is still fit for purpose.

Pandemic rules that get you thinking

As we’ve moved through our COVID-19 alert levels, it’s taken some time for the rules to be refined and communicated. Not to make light of the importance of the rules, other countries have adopted some ‘interesting’ lockdown directions.

Emerging from Covid-19 – what you should be considering now

As New Zealand moves down the COVID-19 alert levels businesses face a long transition period from the unknown to the ‘new normal’.

Budget 2020 Rebuilding Together – our take

Touted as a once in a generation Budget, yesterday the Government announced a $50 billion COVID-19 Response and Recovery Fund, $20 billion of which remains uncommitted and will be allocated in the months to come. This fund builds on top of the initial $12.1 billion package, and the $12 billion New Zealand Upgrade Programme announced in January.

Moving into level 2 – what you need to know

From 11.59pm on Wednesday 13 May, New Zealand moves into Level 2. Here’s some key points.

Ways to improve business performance

Here are 10 tips to improve your business performance. Eliminate distractions and bad customers, get a plan, use tech, deploy marketing and understand your business numbers. 

What to do with your website during a crisis

Your website is usually the first place a new customer will go when they are looking for your products and services. Use your homepage to update your customers on how they can continue to buy from you.

Out of office? Be on alert: tips to protect your business information

Working from home? The commute’s a breeze, the pantry is on tap and you haven’t ironed a business shirt in weeks. But don’t drop your guard just yet.  Now that you’re working outside your controlled office environment you need to stay vigilant when it comes to protecting your business information.

Getting ready for doing business in Level 3

The Government has clarified that most, but not all, businesses can start to open under Alert Level 3 from 11.59pm on Monday 27 April.

Reference links for COVID-19 information

We have pulled together links to websites and information to make it easy for you to find what you’re looking for.

Tax relief packages for SMEs

The Government has announced (April 15) a further set of tax proposals to help businesses manage the impacts of COVID-19.  In summary:

Encouraging prompt payment

Keeping on top of your invoicing requires a proactive strategy. Sometimes it just takes a phone call. Here’s some other tips:

Insolvency relief

The Government is introducing urgent law changes to the Companies Act to give directors temporary relief from potential personal liability when the business faces significant liquidity problems.  The changes will not cover serious breaches of duty.

The value of cashflow forecasting during a crisis

During the ongoing coronavirus crisis, many sectors are seeing income either disappear completely or drop to dangerous levels.

Binding rulings for small businesses

Inland Revenue has recognised the system of binding rulings doesn’t work for small businesses because it’s too expensive.

Common Reporting Standard (CRS) explained

You might have been contacted by your bank to fill in a form enquiring about your CRS status. In simple terms, CRS stands for Common Reporting Standard.

Dire implications for late tax payments

If you pay your provisional tax one day late you come out of what is called the Safe Harbour scheme.

Tax changes worth noting

There have been several tax changes recently. Some of the important ones are listed here:

Effective remote working tools

Many of us have been thrust into a remote working regime with little time to prepare. Here’s some options for working collaboratively yet remotely:

Wage subsidy is not part of sales

If you’ve received a wage subsidy, don’t treat it as being part of sales.

Plan now for your business continuity

Having a plan to deal with the fallout from the COVID-19 pandemic is going to be critical to business survival.

The value of a brand style guide

Your brand is an integral part of what makes your business unique. So, keeping your brand style consistent across all communications, marketing and online channels is important – and this is where having a brand style guide can become invaluable.

COVID-19 – paying your employees on the wage subsidy

If you have applied for or have received the COVID-19 Wage Subsidy, you must still undertake best endeavours to pay the employees named in your application, at least 80 percent of their usual wages.

Can you steal GST?

Whether a price includes GST or not is important to know for the price of a product. In the case between New Zealand Police and Genesis Pure, ‘GST’ became the difference between a maximum penalty of seven years in jail, or one.

COVID-19 economic response package and you

The rapid escalation of New Zealand’s official response to COVID-19 is having impact on our business community - in some cases, it’s already significant. We believe that business owners and managers, ourselves included, will find dealing with the coming months challenging.  We want to assure you that we are here to support you.

Barry Rosenberg - 65 and not out, new plans ahead

Barry Rosenberg may be retiring from Moore Markhams at the end of March but he’s certainly not heading home to sit in his recliner to listen to sports radio.

Effluent Management Systems (EMS Ltd) | Walking the environmental talk

When Tania and Steve Crockford started their plumbing and drainage business 28 years ago, they never imagined how diverse it would become.

Humble Bees | Giving plastics the sting

Otago start-up Humble Bee is unlocking the secrets of a unique type of bee to tackle the global plastic pollution problem.

Helen Reeves – retiring the red pen

Helen Reeves is a stickler for accuracy with a knack for numbers – little wonder then that she wound up a senior manager at Moore Markhams Wellington.

Moore Markhams: Helping grow Sarah's confidence

Read how Sarah gained the confidence she needed to kick start her career with Moore Markhams.

FMA Audit Quality Monitoring Report

We have scrutinised the Financial Markets Authority’s audit quality monitoring report and have summarised what you need to know to improve the overall quality of your relationship with your auditor.

Joining forces to strengthen our service

From next week, our cloud-based accounting expertise will strengthen when we are joined by our colleagues from HWI Limited under the Moore Markhams banner. Initially this will be from our home bases but we look forward to bringing them into our Newmarket offices once the COVID-19 situation is over.

Tax: a brief history

Tax is often quoted as being unfair. However, a review of taxes from historic periods can highlight how ‘sensible’ our current system is.

Employee phones and PAYE / FBT

The devil is in the detail and there are conditions around employees using mobile phones and how PAYE and FBT rules apply. Recently Inland Revenue provided an easy rule of thumb for employers to adopt.

GST on loan repayments

GST is deducted on goods and services that are acquired for use in making taxable supplies. A recent High Court decision is a timely reminder that understanding the legal form of a transaction is important for applying the correct GST treatment.

Purchase price allocation needs consideration

Buying or selling a business is a significant decision, and commonly involves vendor and purchaser negotiations on many aspects of the transaction.

Global tax – paying a fair share

A series of legislative changes have been implemented over the past few years as part of the Government’s focus on ensuring multi-national corporations pay their fair share of tax.

Changes to donation tax credits

The Income Tax Act 2007 requires a donation to be a “…gift of money of $5 or more…”, but what does this phrase mean? Confusion arises because monetary gifts can take various forms. A dispute on the issue has been making its way through the Courts.

Overcoming fears and learning resilience through Outward Bound

Samuel Chadwick has conquered his biggest fear and realised the strength of his mind in tackling challenges – all as a result of a 21-day Outward Bound Mind, Body and Soul course. We’re proud to have supported Samuel in his adventure.

Gerard Bonnet - bringing it back home

When the opportunity came to take up an exciting new role as a senior accountant at Moore Markhams Wanganui in 2019, Gerard Bonnet jumped at it.

Moore Markhams: Helping Jonathan's career thrive

Read how the team at Moore Markhams has helped Jonathan lay a strong foundation for his career in audit.

What are your numbers telling you? How to grow your business using your financials

Too many New Zealand business people are missing the potential to grow their business by not learning to understand what their numbers are telling them.

Work. Sleep. Eat. Repeat?

Working harder is not always smarter. Burnout is common among business owners and staff who are pushed to the limits. Ultimately, it’s not good for business or your personal life to be burning the candle at both ends. But how on earth are you expected to fit it all in?! Find a better balance with these helpful hacks.

The busy person’s guide to stress-free performance reviews

How well are your staff performing? Do they love their job? Performance reviews, an open two-way conversation held once or twice a year, are a great way to find out. While you’re not legally bound to do appraisals, they’re a great tool to keep your business running smoothly.

Why closing the gender pay gap is good for business

While the gender pay gap is smaller than a decade ago, a collection of top New Zealand business people are working hard to reduce it further.

What is content marketing and why is it important?

Content marketing is engaging customers and prospects by speaking about what matters to them. It’s not a ‘hard sell’, but genuinely winning their interest with content that is useful and interesting.

The benefits of creating a holding company

Looking to protect the long-term future of your business and investments? We’ll help you create a new holding company and establish a robust group structure that safeguards your profits.

Recruiting new staff? Start with a plan

Bringing on a new staff member is an exciting time for any business. We can help you with your recruitment plan, budget and your compliance obligations as an employer.

Understanding who your customers are is essential for your business

Knowing and understanding your customers is key to successful marketing and can give you a profitable advantage. Take some time now to understand your valued customers and you'll be more likely to attract more.

Your small business has a great story to tell

Your small business has a great story to tell. When you are ready to launch your PR make sure you have done the groundwork for your best chance of success. Put your great news on your website’s blog and share it on your social media channels.

Set the right growth goals for your business this year

Got a plan for your business this year? We’ll help you pin down your goals and create a financial model that delivers the goods – both for the business and your own personal wealth.

Sharon Parker retires after 30 years

After 30 years attending to the financial needs of businesses from Wairarapa and further afield, Sharon is looking forward to a change in direction. This will be an exciting time for her as whilst some of her plans are mapped out there will also be something of a leap into the unknown.

Chartered accountant adds specialist skills

We’d like to reintroduce you to Chartered Accountant Ben Crum who has rejoined us after a time away gaining further experience.

A clearly defined and thoughtful business strategy is key for pharmacy success

The tightening commercial pressures of an increasingly competitive market has seen pharmacy owners become more strategic and innovative in their business decision-making.

HAMR Home Building Contractors | Building business success on the Coromandel Peninsula

Starting a new business in the middle of the global financial crisis may not be for everyone, but for Richard and Hannah Warwick it was the perfect time to launch their company, HAMR Home Building Contractors.

John Coltman | Good health to protect wealth

He’s been a police officer, builder and run an iconic Wellington art gallery, but these days John Coltman is all about helping others realise their own business and family dreams.

South Wairarapa Veterinary Services | Mouse or horse – best health is the aim

For the past 40 years, South Wairarapa Veterinary Services (SWVets) has gained a solid reputation for the comprehensive care of all species of animals: production, lifestyle, pleasure and companion.

Goldfields Jet | Striking gold year-round for seasonal tourism busines

Since 1991, Goldfields Jet has given hundreds of thousands of thrill seekers the ride of their lives on Central Otago’s Kawarau River, Staircase Rapids and Kawarau Gorge. Cam Jones had been working as a jetboat driver for the company since 2011, but in mid-2018, bought the business.

Caltex Omahu | Service fuels success

At a time when retailing is moving towards self-service, it’s top-shelf team service that has Caltex Omahu in Hastings flying high.

Liddells Pharmacy | Service sells with a personal touch

In a fiercely competitive and fast-changing market, an 80 year-old Pukekohe pharmacy is doubling down on what it does best – great service with a personal touch.

Why you must set SMART goals

“A goal should scare you a little and excite you a lot”. A SMART goal has five parameters; any goal (if you want to achieve it) must be Specific, Measurable, Achievable, Relevant and Time-bound. Need help resetting the goals in your Business Plan?

Wacky business ideas

Ever dreamt of being your own boss? Well, millions of people have turned that dream into a reality and some even claim it’s easy! Based on some of the strange, yet successful, business ideas out there, they might just be right.

Court case – tax avoidance arrangement

While all taxpayers are entitled to arrange their affairs in a tax efficient manner, tax should not be the main motive for a transaction with no commercial substance. Two recent (connected) cases at the Taxation Review Authority demonstrate why.

The Trust Act 2019 – key points

The recently passed Trust Act 2019 takes principles and rules in relation to trusts from the old 1956 act plus rules and principles that are now in common law and puts them into easily accessible legislation. We provide more details here.

Generation Z – our future workforce

The rise of Generation Z (Gen Z) is imminent in today’s workforce. Comprised of those born between mid-1990s and early-2000s, Gen Z has grown up in a world with technology at their fingertips.

Benchmarking confirms our credibility as a business advisor

Moore Markhams advisors regularly encourage clients to use benchmarking as a tool to identify ways to improve performance.

Male dominance of law firm ownership soon to become more balanced | Survey Report 2019

Women are set to ‘break the glass ceiling’ into legal firm partnership in far greater numbers in the near future, according to a recent survey of Auckland law firms.​

Establishing an advisory structure for your small business

Running a business is hard, but there’s no reason to go it alone. Setting up an advisory board or finding the right mentor to advise you, can help you grow your business. Talk to us about your advisory structure.

Why you need to forecast your cash flow

Need to get a grip on your cash flow? We’ll help you tailor your accounting set-up and cash flow forecasting tools to reveal your future cash position.

Cost management and cutting your expenses

Want to slash your operating costs? We’ll help you to track, monitor and manage your company’s spending – giving you the information you need to get in control of your costs.

Looking for business funding? We can help

Applying for funding is tough. Ensure you have all the data to prove the viability of your business, in order to secure the support. We have the experience and tools to help with your funding drive.

Happy customers, happy bottom line

If customers are unhappy, they’ll leave you for one of your competitors. Customer satisfaction is important to any business, but the earlier you are in the growth of your business, the more critical it is to ensure that your early customers are highly satisfied.

Do you have a client scheduling procedure?

Booking appointments is necessary in any business, but do you have an effective and organised process? 

Employee benefits and the link to staff engagement

Are your employee benefits in need of a refresh? A happy team is for good business. We can help you create the ideal benefits package.

Building a better business in 10 Steps

What are you doing to build yourself a more successful business? There’s no magic bullet, it’s about taking small steps every day to get a bit better than the day before - it all adds up.

Automation can ease your business workload

Are you drowning in business admin? Automation is the answer. We’ll help you identify automation opportunities and choose the best apps to drive an efficient business.

Company culture is vital from day one

Want to create a company culture that adds tangible value? Flesh out your core values and key cultural pillars to create a culture that drives your bottom line.

How to regain control of your business

Not all business owners want to grow their business. Some may just want more control. After all, your business is there to serve you; you shouldn’t be a slave to it. So, how do you regain that much needed control?

What is influencer marketing?

With more choice than ever in consumer goods, brands are turning to individuals who promote to their large social media fan base. Called influencer marketers they may not be famous but have a huge online fan base.  

Becoming a mentor

If you’ve got experience in business, there are others out there who want to learn from you. Passing on your business knowledge to help another person succeed can be a rewarding experience, both personally and professionally.

The cost of a new employee

It's a big decision to commit to having a new member on the team but the right person will drive your business forward or give you more time in your day. Here’s help to identify the costs.

Insuring your business

When it comes to business, it’s better to be safe than sorry. Protecting your business with the right insurance policy can guard against risk and compensate for any losses. Have the right policies and review them annually.

Identify growth opportunities

Business growth doesn’t need to mean more risk, more hours and more headaches. To be successful, start by identifying the opportunities for growth in your business and industry. Then take the first step to achieving it.

Calling time on cheques

IR received more than 430,000 cheques last financial year. ACC received around 25,000 cheques from business customers. From March 2020, they say ‘no more’. Read their plans to help customers switch to alternatives.

Until debt tear us apart

Don’t procrastinate on the collection of your debtors! The longer you leave it, the harder it becomes to get paid. Get in touch to review your payment terms and find out how you can get paid faster.

National accounting group aligns with international network

Moore Stephens Markhams, one of New Zealand’s leading networks of independently owned accountancy and audit firms is relaunching as part of a move to provide stronger global client solutions.

US tax rules - ‘only in America!’

You may think New Zealand’s tax rules are difficult to follow. The following unusual yet permitted deductions in the US may change your mind.

Residential bright-line – what’s the ‘intention’?

The Income Tax Act 2007 has long contained provisions to tax the sale of property (or other assets) acquired with the intention of disposal. However, ‘intention’ is a subjective concept and has been difficult for Inland Revenue to police. Hence, the bright-line test.

New provisional taxpayers beware

Changes to the provisional tax regime, effective from the 2018 tax year, have generally been well received by taxpayers.

GST on land - Holdaway v Ellwood

It is common for disagreements to arise between taxpayers and Inland Revenue on the GST treatment of land transactions, but less common for these disputes to arise between a vendor and purchaser.

Profit vs cash

There’s a massive difference between profit and cash. Let’s explore the differences to make a better plan to increase both.

Conducting successful performance reviews

Your staff are the backbone of your business, and their success is going to help your business succeed. An important, but often-overlooked part of this is holding regular performance reviews.

Remote work is on the rise - support your virtual team

Remote working has become more and more common as developments in technology have allowed us to communicate and collaborate no matter where we are. In fact, most of us are already logging on from home or holiday already.

14 apps to help improve your business' productivity

We seem busier than ever without necessarily achieving much more. It’s time you made technology work for you, to save time and streamline processes. We have rounded up some of the best apps to maximise your productivity by addressing your communication, organisation, password management, performance and focus.

Diligent investigation the only way to safeguard your business purchase decision

Caveat Emptor. Let the buyer beware. Purchasing a business is not an exercise for the faint hearted. There is much to be considered – much obvious but some not so. We share some less apparent factors in this article about effective due diligence.  

Audits for Tier 2 reporting entities coming up under AML/CFT

It’s coming up a year since the introduction of the Anti-Money Laundering and Counter Financing Terrorism Act 2009 and the roll out to Tier 2 reporting entities.

The Great Annual Street Appeal

Facebook has been in the headlines recently after announcing an ambitious foray into the cryptocurrency market with its new currency, Libra. Backed by Facebook, Visa, Mastercard, Uber, Paypal, Spotify and more than 20 other major global brands it represents a significant step forward in global acceptance of alternate, online currencies.

To accumulate funds, or not to accumulate funds? A question for charities

It is common for many charities to set aside monies received for spending at a future date. Some charities might generate healthy surpluses and accumulate considerable funds over time. There are often good reasons for this. For instance, a charity may accumulate funds to:

Black Rock Farm | Succession planning vital in this farming business

The Bunnys farm Black Rock, running sheep and cattle on their 425 hectare block at the end of Black Rock Road and on ‘Banavie’, a 420 hectare lease block next door.

Queenstown now on our map

Moore Stephens Markhams has expanded its geographical footprint. We’ve opened a new office in Queenstown earlier this year.

Rosie’s Removals | Moving on up

Petra Miller has had a somewhat restless career, so it’s fitting that her latest venture is helping people move.

Wellbeing Budget 2019 – what it means for business

It has been said that a government is the only vessel that leaks from the top and this seemed an appropriate adage in the lead up to this year’s budget announcement. After numerous leaks and accusations of hacking in the days preceding the announcement, yesterday the government delivered New Zealand’s first Wellbeing Budget. Needless to say, there was not a lot of surprises.

Metris | Taking the guesswork out of growing

It’s true that you can’t control the weather, but thanks to science and modern technology, it’s now possible to eliminate some of the risk factors from the business of growing crops. And for that, growers are thankful.

Adding further strength to our client servicing team

Introducing Rebecca Buick and Boon Huxtable to the Wairarapa team.

At home in Newmarket

Level One 103 Carlton Gore Road definitely feels like home for our expanded team.

Take care with tax when winding up your business

If you’re considering selling your business and you run it through a company, you could have a tax problem.

Remarkable Sweet Shop | The sweet smell of success

The Palmer family opened their first Remarkable Sweet Shop in Arrowtown in 2004, quickly adding two further stores in expansion that has seen the Palmers hit the sweet spot of confectionary retail in New Zealand.

Tax Working Group – no major changes for NZ taxes

The Tax Working Group (TWG) released its long-awaited Final Report (the Report) on 21 February 2019, following a 13-month review during which the Group received over 7,000 public submissions. 

It’s official – we’re in Queenstown!

After a lot of planning and logistics management, we are very excited to announce we are now up and running in Queenstown, with our office servicing the Central Otago and Lakes District areas.  

Catch Design Ltd | A design company’s values create goodwill

It was Hamish Stevenson’s ‘can- do’ attitude that helped launch his career as a freelance designer in 2004. 

Outward Bound experience wows Maya

Maya Oliver, a Year 12 student from Makoura College in Wairarapa says that even though her Outward Bound experience was “really hard”, she wouldn’t have missed it for the world.  

Team development can improve business

Business owners and managers are often focused on a company’s financial performance, return on investment and other monetary indicators of business success. Intangible investment in human capital can commonly be overlooked as it can be difficult to measure results.

Jonathan Roberts – New Auckland director

We are pleased to announce Jonathan Roberts of Moore Stephens Markhams Auckland has been appointed as a director.

Rules around claiming tax deductions for family members

Pharmacies, like the majority of other New Zealand businesses, are traditionally family owned ‘mum and dad’ businesses. Often various family members are involved in the business and these family members are entitled to be paid for the services they provide.

As one door closes, another opens

We welcome Ben Gilmour as an equity director from 1 April 2019.

GST and land sales

In 2011, the GST Act was amended to prescribe that a supply of land between two GST registered parties was subject to a rate of zero percent if the land was to be used by the purchaser to make taxable supplies and not as a principal place of residence.

You versus your Trust

It is common from a layman’s perspective to not appreciate the relevance of treating separate legal entities as separate. A recent High Court decision has an important precedent.

Needs More Cushions | Style with soul inspires ethical business

Three years ago Jill McKenzie started a blog to indulge her cushion obsession. Today her passion for pillows has morphed into a start-up selling ethical interiors with a truly global story.

New partner in Wellington

We are pleased to announce the appointment of Andrew Steel as a Partner at Moore Stephens Wellington Audit.

The Rockermans | Lifelong passion starts as hobby and builds to booming business

For more than 45 years, Stu Robbie has been crafting bespoke timber furniture – and what started out as a hobby has turned into a life-long career.

Yara New Zealand | A fertile business with a strong focus on innovation

Whether it be a crunchy Hawkes Bay Royal Gala or a crisp Marlborough sauvignon blanc, our produce is sought globally for its flavour and freshness – and that’s all good news for Yara New Zealand.

When is a gift not a donation?

If an individual pays “…a monetary gift of $5 or more…” to a charity they are able to claim one third of it back from Inland Revenue.  Prior to 1 April 2008, individuals could only claim donations of up to $1,890, i.e. a refund of $630.

Carter Court | Home with a history

Carter Court has a history reaching back to nineteenth century England, but its eyes are firmly on the future and the Wairarapa community it serves.

Turn rental loss into profit and save tax

As you will probably know, 31 March 2019 (or equivalent balance date) is the last year you will be able to offset losses on rental properties against other income.

Commercial property versus residential property – what’s the best investment?

Property investment is as Kiwi as it gets when it comes to New Zealanders investing their money. But is the traditional emphasis on residential ownership declining as commercial property offers advantages well worth considering?

Winding up a company

If a company does not file its annual return with the Companies Office, it may be struck off from the Companies Register. This is sometimes used as a ‘short-cut’ method, rather than completing the short-form company liquidation process.

The Four Regions Trust | Investment growth that benefits the community

Investments made by the Four Regions Trust, formerly the Powerco Wanganui Trust, have grown substantially thanks to the governance of a skilled team.

Think hard about passwords

Are your computers satisfactorily password protected? Similarly, if someone got hold of your computer, could they easily access your bank account? If you have memorised usernames and passwords, are bank accounts still adequately protected?

What exactly is blockchain? What does cryptocurrency mean for my business?

Blockchain is like a block of strong boxes with glass fronts – the contents are visible but totally secure. 

Team continuing to grow to service Wairarapa clients

Introducing Alanah Molina to the Wairarapa team.

Succession Planning | Your legacy, their future

Getting out of your business or farm may be one of the most important decisions you ever make and must be a carefully managed process.

The recent Nelson fire and how our auditor helped out

Our audit team member from Christchurch, Jordan Pearson, was involved in the response team for the Nelson fires in early February. Here’s his account and some pictures from his time there. 

Can the spam with a new email address

Whenever you sign up to a subscription service or buy something online, it’s likely you’ll be put on a mailing list – whether you like it or not.

Company record keeping

We share a reminder of the legal requirements from the Companies Act 1993 (section 189). The Act requires that a company must keep the following documents at its registered office:

Take the drama out of end-of-year

The end of the financial year can be either stressful or a seamless part of what you do. Ideally, your end-of-year accounts will confirm what you think your business has been doing for the past 12 months.

Are you in charge of keeping the office or work-site safe?

Locking the doors is one thing but you need to take extra steps to ensure your workplace is safe and secure these holidays. The last thing you want is for someone to access your work space and hurt themselves.

Anti-Money laundering regulations

Since 2013, financial institutions, such as banks, have had to comply with Anti-Money Laundering regulations. These rules have now been extended to other businesses providing financial services, such as real estate agents, accountants and lawyers.

Spa Pools Otago | Soaking it up, enjoying growth success

Spa pools have moved from the wish list to shopping list, with many Kiwi families now able to afford one in their backyard. 

If you want to succeed in business, understand that Cash is King

Your business can’t survive without cash. In business, cash is king.  The following six take aways are essential for business success:

Deductibility of bad debts

Many of the costs associated with running a business can be claimed as a tax-deductible expense, but not all. The Income Tax Act dictates that to be deductible, expenses must be incurred in the course of deriving assessable income, or in running a business.

Payday filing becoming compulsory

The way employers report payroll information to Inland Revenue (IRD) is changing. From 1 April 2018, IRD introduced a new electronic reporting system, providing employers the option of filing payroll information every payday. 

Let’s talk fraud and internal controls

Fraud. It does happen, but there are ways your organisation can work to prevent it from occurring. Having good internal controls – policies and procedures that ensure the integrity of accounting and financial information – can reduce the opportunities for fraud to be committed.

Do you lease premises? Machinery? Vehicles? And report under NZIFRS?

NZIFRS 16 Leases applies for periods beginning on or after 1 January 2019 so therefore applicable for 31 December 2019 balance dates and forward.

Mark and Annie Ferguson | Family agribusiness has strategic plan to create secure future

A farm forestry block is a vital part of a fifth-generation farming business. Mark Ferguson’s father, Ian began to plant some of the 100ha pine forest in the 1970s and his foresight in doing so is reaping economic benefits for two generations of Fergusons.

Transform your organisation from the inside out

Recently Moore Stephens Markhams Wellington directors Abbey Warner and Bruce Stormer engaged the services of Cathy Sheppard, the founder and ‘top trainer’ of BSI People Skills, an organisation that builds and strengthens individuals and teams, resulting in a transformed workplace culture.

How cyber-secure are you?

Blackmail, extortion and identity theft might sound like something straight out of a blockbuster movie but cyber crime is not only a reality, it’s on the rise and research shows the average Kiwi business isn’t prepared.  

Employee engagement leads to business success

Modern HR practice considers people managers to be at the forefront of the employee experience, with employee engagement stemming directly from an employee’s relationship with their manager. It is often said that people don’t leave companies, they leave managers. 

How can benchmarking help your business grow and prosper?

Benchmarking is not rocket science but it’s surprising how few businesses take the opportunity to gauge themselves against their competitors and industry peers.

Pharmacy report 2018: Mergers needed to achieve economies of scale

Owners of smaller pharmacies should consider whether they might benefit from merging with another business to ensure their medium to long-term viability.

Atlas Gentech & Simply Leasing | Driven by the deal, loving the success of what you do

With the US$151 million sale of their technology equipment group this year, Auckland businessmen 
Steve Moss, Alan Willett and Steve Varney (pictured), could justifiably call it a day. But the trio are still chasing deals; this time to build their next business Simply Leasing, in the rapidly growing equipment leasing market.

Tax Working Group Interim Report

The Labour Government established the Tax Working Group (the Group) in January 2018 to review the existing New Zealand tax framework and to provide recommendations for improvements to the fairness, balance and structure of the tax system over the next 10 years. 

Moore Stephens Markhams 18-hole Women’s Shootout 2018

Our Wairarapa office is proud to sponsor of the Masterton Golf Club.  Here’s a run down of the Moore Stephens Markhams 18-hole Women’s Shootout 2018.

We welcome our new Wanganui accountants – Francis D’Souza and Tristan Stephens

Experienced accountants Francis D’Souza and Tristan Stephens recently joined the Moore Stephens Markhams Wanganui office, marking the third time the pair have worked together at the same firm.

How can your business benefit from a board of experienced business people?

Being in business, particularly a SME, can be a lonely place. When you get to a certain level of success and growth, it can be hard to find high level advice.

Dunedin Palms Motel | The people have voted and it’s a winner

Alex and Karen Greenan are very proud of the fact that after only four years of owning the Dunedin Palms Motel they are a Loved by Guests award winner (online travel agents).

Risky business: managing cyber threats

The digital revolution is well and truly upon us and businesses are reaping the rewards. Online accounting software automates bookkeeping, cloud solutions increase computing capacity while saving costs, online stores open up whole new markets for retailers. It goes on.  

Paul Ejamme | Working together for business success

Financial adviser and self-professed ‘number lover’, Paul Ejamme is one of the directors of Finsol, a Hawke’s Bay based business insurance and ACC specialist company established in 2010.

Morrison Design | Safe and sound, simple objective for structural engineering firm

It’s number-crunching, head-scratching work, but the goal is always simple, says Morrison Design director David Morrison. “An architect comes up with a beautiful idea for a building or structure – and we make sure it doesn’t fall down.”

Proposed tax changes

The Taxation (Annual Rates for 2018-19, Modernising Tax Administration, and Remedial Matters) Bill was introduced into Parliament in June 2018. 

Holiday pay – employer compliance tested

The MBIE Labour Inspectorate has recently announced that it is going to prioritise employer compliance with the Holiday Pay Act. It expects businesses to calculate leave and holiday pay entitlements accurately.   

Foreign shares and FIF

The global economy is seeing New Zealand (NZ) taxpayers invest in overseas companies. However, many people acquire foreign investments without understanding how they will be taxed.   

To claim or not to claim?

Planning a summer business trip with a personal holiday tacked on the end? Renting out the bach and unsure what expenses can be claimed? Whatever your situation, we want to make sure you’re getting the expense claim tax break you’re entitled to.

Trucks & Trailers Ltd | In it for the long haul

It began 31 years ago, with one man repairing heavy trucks from the back of a ute. Today Trucks & Trailers has close to 100 staff and sells hundreds of trucks, vans and utes each year.

FBT… so what can you do?

An expert, independent set of eyes will help you determine what you need to do in all cases, what you don’tneed to do, and also how to go about doing it (including creating proper documentation).

Reo Pēpi | Te Reo Māori alive and well in this new Dunedin business

The adage ‘Don’t go into business with family and friends’ clearly doesn’t apply to Kitty Brown and Kirsten Parkinson, two Dunedin cousins and friends who have launched a business publishing bilingual books for babies and young children.

Maximising the benefits from your accounting software

In the modern competitive marketplace, businesses need to have the tools to make appropriate and timely decisions in order to survive. If they wait until the end of the financial year to review performance and then react, it is usually too late.

Think before you leap: What are my responsibilities as a trustee?

Whether you’re thinking of becoming a trustee for your own family trust or someone else’s, it’s important to know your obligations under the current law before accepting the role.  

Incentive options to ‘lock in’ key personnel to grow profit

In our experience, the success of many SMEs rests in the skills, knowledge, experience, and commitment of key personnel. 

Hawke’s Bay succession expert talking at national Fieldays

A Hawke’s Bay succession planning specialist has been invited to share his knowledge with agribusiness owners at this year’s New Zealand Agribusiness Fieldays.

It’s game on! Huge changes are coming for business, fast!

Directors Dan Druzianic from Hawke’s Bay and Paul Rickerby, Christchurch recently attended a week-long Harvard Business School leadership programme developed for international Moore Stephens directors, that built on a first programme they attended two years ago.

Cryptocurrency and your tax obligations

Over the last decade, the use of digital or virtual currencies, known as ‘cryptocurrencies’, has grown dramatically in popularity. Operating in the digital world doesn’t absolve you from your tax obligations; it also doesn’t mean your activity is untraceable.

Bright-line breach warning

The bright-line test came into force from October 2015, introducing rules that a profit derived on the sale of a residential property is subject to tax if sold within two years of purchase, albeit subject to some exceptions such as the family home. These rules have recently been revised to extend the bright-line period from two years to five.

The changing face of tax residence

Determining whether you are a New Zealand tax resident is very important. Generally, New Zealand tax residents are taxed on their worldwide income.

What is your business doing to attract the next generation?

Gen Z (born after 1995) are tech-savvy, entrepreneurial, out-of-the-box thinkers – people you want on your team. Here are four ways to attract and retain New Zealand’s next generation of workers.  

Junction Wines | Family rules in this wine and farm business

The combination of farming and viticulture on John and Jo Ashworth’s rural property in Takapau, Central Hawke’s Bay, sounds like a Sunday roast. Beef, sheep, peas and wine are the main ingredients on their 364-hectare block, which they established more than 30 years ago.

Advantages and disadvantages of cloud accounting

There is a growing trend for businesses today, whatever their size, to move to the ‘cloud’. The cloud is an online platform to make data and software accessible, anytime, anywhere and from any device.

Daniel Mead – Street Artist | Painting the town makes for good business

Few artists have a resume as visible as Daniel Mead’s.  Murals and street art by freelance artists Daniel, and Tessa Petley dot the streets and landmarks of Dunedin – the street art capital of the South.

Facebook: Why your business needs it (and how to use it!)

Are your ideal customers adults? Then your business needs to be on Facebook because that’s where their eyeballs are. Time-poor or don’t have a clue where to start? Get some answers with these six most frequently asked questions.

Pure Plumbing and Gas | New plumbing business ‘flat out’ due to quality emphasis

Growth has been so solid since Marcus and Jessica Lee set up their plumbing and gas business in late 2016, that they’ve tripled the ‘on tools’ workforce, and yet are still “flat out”.

Dempsey and Forrest Ltd | Innovation spells success for Wanganui funeral business

Dempsey and Forrest Funeral Directors, owned by Jim and James Forrest, has been helping families through difficult times for more than 85 years.

Leabourn Passenger Services Ltd | Driving business success in the North

For more than half a century, the Leabourn family has been transporting people from A to B. 

Internet of things – what exactly is it?

The term ‘internet of things’ (IoT) is the name given to interconnected devices that can communicate with each other via the internet, through the sending and receiving of data.

Taste Nature | Passionate providers of the best food possible for Dunedin

Integrity is a word not lightly used at Taste Nature. For owners Rayna and Mark Dickson, above right, it is the bedrock of their business that is lived and breathed, not just by them, but by the whole team.

Surge in suburban and city fringe legal firms’ profitability | Survey Report 2017

The face of Auckland’s legal scene appears to be changing, with suburban and city fringe firms becoming more profitable than those in the city’s CBD traditionally thought to be the powerhouses.  

King & Dawson Architects & Engineers Ltd | Architecture and engineering under one roof makes for versatility

King & Dawson has built a solid reputation over many years, having existed in its present form for around 30 years and in various partnerships since 1906.

Clifton Glamping | Adding a glamourous diversification to farm business

Before Tom and Lucia Gordon were married, their favourite thing was to retreat and go camping on the Gordon family farm, Clifton Station near Cape Kidnappers.

Waterwise Wairarapa | Embracing a new challenge proves a wise move

Purchasing the business you work for was a big step up for plumber and gasfitter, Rob Summers, but when Waterwise Wairarapa came on the market in 2016, Rob and his wife Sarah decided it was too good an opportunity to miss.

Production Partners Ltd | Providing clients with cut through in competitive markets

In April 2018, Production Partners Ltd will celebrate a decade in business. The company, owned by Lee Shaw, specialises in printing and print management. 

Trident Homes Tauranga | Distance no barrier for successful home company

Although the Trident Homes Tauranga franchise is based in the Bay of Plenty, the relationship with Moore Stephens Markhams Wanganui, which began 24 years ago, is still thriving today.

StockX Limited | Disruptive technology unlocking value for farmers

StockX founders set out to transform the agriculture sector and now, two years down the track, the online stock trading platform is proving its innovation with not just one but two innovation awards.

Proof of intention when buying or selling property

The sale and purchase of residential property is an area of focus for IRD investigators because of the ongoing investment in the Property Compliance Programme.

Wharerata Farm | Motherhood and farming all in a day’s work for fifth generation farmer

When Sophie Atkinson took over running the family farm Wharerata in Pirinoa late last year, she became the fifth generation to manage the property.

Daisy Jake Hairdressing | Styling hair and growing business a hand in hand success

After being a hairdresser for 24 years, winning numerous awards, managing a large hair salon with 27 staff and training hairdressers, Kerri decided the time was right to start her own hairdressing salon. Kerri Cox bubbles with enthusiasm when she talks about opening her hairdressing salon, Daisy Jake, almost a year ago. “It’s awesome and going fantastically,” she says. 

Pharmacy report 2017: competition from non-pharmacists a serious threat

Pharmacy businesses are under serious threat from other businesses now selling traditional pharmacy products, according to the latest Moore Stephens Markhams New Zealand pharmacy benchmarking survey.

Communication important in managing debtors

Like any relationship, timely communication between creditors and debtors goes a long way to avoiding trouble. One of those tools for small businesses is the financial web.

Case study | Succession planning

Mark and Chris recognised early that passing on the family’s farming business would need to provide a ‘fair’ opportunity for all three sons, and their respective families.

Gillions Funeral Services Ltd | Family funeral business embraces technology

Gillions is based in Dunedin and services the wider Otago area from Palmerston to the north, Lawrence and Roxburgh in central Otago, to Milton and Balclutha in the south.  

Crown Flooring Ltd | Cloud based technology covered for this expanding Auckland business

Adrian de Roode began his career in flooring in the 1970s, working for his father Albert out of the family home’s basement. The company began its life as a flooring installation business Albert de Roode Ltd, but as it grew, Albert and Adrian moved into flooring supplies.

KayJay Angus | Expert knowledge translates into farming excellence

Wairarapa couple, Neil and Joan Kjestrup are justifiably proud of their Angus Stud, KayJay Angus, after all, it’s the reflection of many years’ hard work.

Acupuncture New Zealand | Moving to Xero with us; a successful remedy for accounting woes

Acupuncture New Zealand has ‘come home’ to the Moore Stephens Markhams fold, with a move onto the Xero cloud based platform one of the key benefits gained.

Hutchwilco | Marine firm making it big in New Zealand

Hutchwilco is something of a rarity. The Auckland-based marine equipment firm was founded in 1894, and has bucked the trend to send manufacturing offshore – making its hugely popular life jackets in New Zealand for all its 122 years.

Hastings Honda | Streamlining systems keeps motorbike businesses on track

The doors of Hastings Honda were opened ten years ago by Dennis and Christine Mills, a couple who are no strangers to the world of motorbikes and ATVs. 

The Pharmacy Guild Of New Zealand (Inc) | Mentoring the right prescription for this membership organisation

The Pharmacy Guild of New Zealand (Inc) is a national organisation that looks after the business interests of community pharmacy owners.  

Mackintosh Group Limited | Succession planning vital to this family farm business

Paul and Anna, and Bruce and Helen Mackintosh live and farm just outside Wanganui on Dunkeld, a 225 hectare sheep, beef and grain cropping property.

Sumich Plumbing and Drainage | Grit and determination underlies success

Sumich Plumbing and Drainage was established in 1991 by Chris Sumich, providing Aucklanders with plumbing, gas fitting, drainage and roofing services.  

Alarm Watch | Making sure you are safe and secure 24/7

Wanganui alarm and monitoring company, Alarm Watch Limited, is an innovative business that’s moved ahead in leaps and bounds since its humble beginnings 27 years ago.

Teletronics | Supporting the shift into the digital world

Scott Bensemann and Chan Jackson own electronic sales and service centre, Teletronics Limited in Masterton.  The pair bought Teletronics in 2014 from the previous owner who had run the business for more than three decades.

Pharmacy report 2015 shows rise in wages and drop in gross profit margins

Pharmacy report 2015 shows rise in wages and drop in gross profit margins