Record your log book easily utilising GPS technology. If you use a vehicle in your business that is not exclusively for business then you need to run a log book for 3 months every 3 years detailing your trips and what they are for so you work out what percentage of your travel is for business use. This percentage is then used to calculate the amount of expenses related to… Read more
Manual payments discontinuing. Changes to the Inland Revenue payment service at Westpac From 1 October 2014 you will no longer be able to make cheque payments or drop off returns or forms at a Westpac branch. You will be able to continue making cash and eftpos payments at Westpac. Customers can post cheque payments, returns and forms directly to Inland Revenue. You can continue to make payments using online banking, credit… Read more
Make sure you buy a car in the right name to ensure you maximise your tax position. A client bought a new car for his business. The business paid for the car but the finance arrangement was in his own name. The interest is not tax deductible on the money borrowed. While we can remedy the situation, it adds to our work and your costs. Make sure if you are… Read more