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Thinking About - Monthly Newsletter

An international ethics standard was enacted in New Zealand on 15thJuly 2107 which has important considerations for me as an accountant and you as a client. It’s a first-of-its-kind framework to guide auditors and other professional accountants in what action to take in the public interest when they become aware of a potential illegal act, known as non-compliance with laws and regulations, or NOCLAR, committed by a client or employer.  It’s a set of ethical standards with global re...

May 14, 2018

Thinking About - Monthly Newsletter

I was talking with a sole trader panel beater and asked if they would take on an apprentice.  “No, I wouldn’t be able to leave them alone in the workshop because if they hurt themselves I’d be liable”.   I was surprised to hear his reaction.  Here was someone limiting the potential of his business seemingly not because he didn’t have the work for an apprentice, but because of his fears of the health and safety act. We’ve all heard stories of busines...

April 10, 2018

Thinking About - Monthly Newsletter

The IRD website states “Prosecution is one way the Commissioner of Inland Revenue protects the integrity of the tax and social policy systems she is statutorily responsible for.  It is an enforcement activity, usually of last resort,…”  IRD has a compliance model that guides the approach taken.  Most taxpayers want to do the right thing but occasional gets it wrong.  IRD takes an assistance role in helping these taxpayers comply.  Those that don’t want to co...

March 22, 2018

Thinking About - A Monthly opinion by Trish Madison

I always believe transparency and honesty are key business attributes, but I wonder how farthat needs to go. For example, most people charge out a greater rate than their costs. Thisis basic economics; money in greater than money out equals happiness. They don’t tellcustomers that they are paying this much for this or that and this is my mark up; please paythis amount thank you. But, we still live in a society where there are expectations, a customer walks into a store andsees the staff and t...

March 5, 2018

Thinking About - A Monthly opinion by Trish Madison

I was with some people the other day and the conversation came around to the pending increase to the minimum wage. The comment that struck me the most was “I’ve heard a lot of businesses say that they won’t be able to employ anyone, unemployment will increase”.  In my head I’m thinking, “why should they say that?”  Let’s look at reality. The government is increasing the minimum wage from $15.75 to $16.50 come 1st April 2018 with progressive increases to meet the $20 tar...

January 17, 2018

Did you Know?

People claim expenses in businesses all the time - materials for building products that they sell, wages to staff, motor vehicle expenses for getting out and visiting clients, rent for premises used in selling, storing or manufacturing goods, legal expenses incurred to recover lost profits for the supply of defective plant, insurance for professional indemnity or to ensure plant and machinery. the list goes on, BUT there are some expenses that people would like to claim that unfortunately can no...

September 6, 2017 Posts 1-6 of 6 | Page

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