10 07, 2022

Are your systems ready for 1 April 2023?


For the first time in 36 years, GST and invoicing requirements are being modernised to facilitate advances in technology such as e-invoicing. These changes achieved royal assent on March 30, 2022 with the The Taxation (Annual Rates for 2021-22, GST, and Remedial Matters) Act 2022. This has been named the licorice allsorts Act because it [Read more..]

Are your systems ready for 1 April 2023?2022-07-11T07:47:13+12:00
12 04, 2022

Lyall Bay Beach Clean-up


    Lyall Bay Beach Clean-up   As 5th Consulting is based in Seatoun, so close to the coast, we want to make sure Wellington’s coastal and marine environments are looked after. In addition to providing quality accounting and business advisory services, we have also organised several beach clean-ups.  Our first tackled the coast [Read more..]

Lyall Bay Beach Clean-up2022-04-12T09:25:54+12:00
24 11, 2021

Top 5 tips for managing provisional tax


  Provisional tax can be difficult for businesses to manage. Traditionally, most businesses have calculated their provisional tax on a 5% uplift of the prior year’s income tax liability. But due to COVID-19, the FY2022 net income for some businesses will be lower than expected and upcoming instalments may need to be reviewed. Furthermore, the [Read more..]

Top 5 tips for managing provisional tax2021-11-24T22:38:38+13:00
28 09, 2021

Guidelines on the new interest limitation rules


The Government today released the draft legislation outlining the details of the policy limiting interest deductions on residential property investments. These new rules have been designed to cool investor demand for existing houses in the NZ property market and to help boost supply by directing investment into new builds. These changes have not been welcomed [Read more..]

Guidelines on the new interest limitation rules2021-10-08T09:58:33+13:00
19 08, 2021

The value of timely feedback


    “What is the worst kind of feedback you have ever received? And what exactly made it so bad?” This was a question that was asked at a workshop I attended recently. The room went quiet after being confronted with this question, but the mood quickly turned to deep reflection. People slowly started sharing [Read more..]

The value of timely feedback2021-08-22T22:38:16+12:00
6 07, 2021

The R&D tax credit system has evolved


In response to criticism from industry groups that the R&D tax credit scheme was too narrow, updated guidance was published by Inland Revenue in March 2021.This new guidance has an expanded eligibility summary and as a result more companies will be able to benefit from the tax credit. The key criteria changes have been [Read more..]

The R&D tax credit system has evolved2021-07-06T22:15:15+12:00
17 06, 2021

Streamline expense and mileage claims


  You can easily reduce the amount of bookkeeping for a small business by using Xero add ons - simplify your expense and mileage claims with Xero expenses!      

Streamline expense and mileage claims2021-08-30T09:49:55+12:00
16 05, 2021

Key privacy points for 2021


  New obligations under the Privacy Act 2020 bring some challenges but here at 5th Consulting we see these as an opportunity to build trust with the people who work with us. We attended the Privacy Forum 2021 and would like to share with you some key takeaways from Privacy Commissioner John Edwards’ presentation. Here [Read more..]

Key privacy points for 20212021-07-07T22:16:14+12:00
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