Bean Blog

COVID-19-Governement-Support

COVID-19 Government Assistance

August 25, 2021

The Government is offering assistance to businesses with five schemes: Wage Subsidy August 2021 Resurgence Support Payment Leave Support Scheme Short-Term Absence Payment The Small Business Cashflow Scheme The Wage […]

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Tax Treatment of Meal Expenses

Tax Treatment of Meal Expenses for Self-Employed Taxpayers

July 29, 2021

In a final interpretation released on 7 July 2021, the IRD has concluded that in general, meal expenses for self-employed taxpayers are not deductible for income tax purposes, nor is […]

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Buying or Selling a business in New Zealand

Buying or Selling a Business? New Purchase Price Allocation Rules now apply

July 6, 2021

If you are intending on buying or selling a business, legislation that came into effect on 1 July 2021 will impact the process in which parties allocate the purchase price. […]

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Wellbeing Budget 2021

The Wellbeing Budget 2021

June 2, 2021

After the dramatic tax announcements in March 2021, particularly in regards to the new 39% tax rate, extension of the Brightline rules to ten years and the progressive phasing out […]

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IRD Targeting Real Estate Agents

IRD Targets Real Estate Agents

June 2, 2021

Concerns surrounding the potential claiming of personal expenses and not keeping logbooks or not keeping business records to support deductions, have been raised by the IRD. Where IRD have identified […]

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Sick Leave to increase New Zealand

Sick Leave to Increase

June 1, 2021

The Bill to double the current sick leave entitlement, passed its third reading in Parliament this month. Accordingly, the Bill is expected to come into force mid July 2021. Upon […]

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Xero enchanched security

Additional login security for Xero users.

April 29, 2021

Your business could be stopped in its tracks if someone gained access to your account through hacking, phishing or other cyber attacks. The good news is that many data breaches […]

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Cash Flow Management

The Ins and Outs of Cashflow Management

April 28, 2021

“I Made A Profit…So Where’s My Money?” Did you know that this is the most asked question that Accountants get from their clients?Well, that and “Why do I have to […]

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Property Investors Targeted, First Home Buyers to Benefit

Property Investors Targeted, First Home Buyers to Benefit

March 23, 2021

Property investors targeted in Government’s latest announcements The Government has announced significant changes targeting property investors.  These changes have significant tax impacts and could cause long-term loan serviceability issues.  In […]

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COVID-19 Financial Support Update

Covid-19 Financial Support Update

March 23, 2021

As a result of COVID-19, financial pressure is a reality for many small businesses, individuals and families.  We are here to assist and advise our clients, in terms of future […]

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