Tag: Tax
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The Effects of Tariffs on Global Trade: Understanding the Impact
Tariffs, essentially taxes imposed on imported goods, play a significant role in shaping international trade dynamics. By influencing prices, tariffs impact not just trade volumes but also economic relationships between countries. Here’s a comprehensive exploration of how tariffs affect global trade, illustrated by detailed examples from New Zealand. How Tariffs Influence International Trade 1. Increased…
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Avoid These Accounting Red Flags: Protect Your Business from Costly Mistakes
Every business owner aims for financial stability, but accounting red flags can signal hidden issues that threaten profitability and compliance. Poor financial management can lead to cash flow struggles, tax penalties, and even legal risks. Recognising these warning signs early can help protect your business from costly mistakes. Below are key accounting red flags to…
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Transfer Pricing: Key Considerations for Businesses Ahead of Year-End
As the March and June financial year-end approaches, businesses engaged in cross-border transactions with associated parties must review their transfer pricing positions. Ensuring transactions are conducted at arm’s length—meaning they reflect the pricing that would occur between independent third parties—is critical for compliance with Inland Revenue (IR) and OECD guidelines. Proper transfer pricing planning helps…
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Why Businesses Must Prioritise Cash Flow at the End of the Financial Year
The end of the financial year (FY) is a crucial time for businesses, not only for tax compliance but also for ensuring financial stability and strategic planning. Cash flow, in particular, requires close attention, as it directly impacts business operations, profitability, and overall financial health. Here’s why businesses must prioritise cash flow at FY-end and…
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Why You Must Separate Your Business & Personal Finances
Managing finances efficiently is one of the most important aspects of running a successful business. Yet, many small business owners start off using their personal bank accounts for business transactions. While this may seem convenient at first, it can lead to financial confusion, tax complications, and even legal risks. To avoid these pitfalls, opening a…
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Ensuring a Smooth Year-End: Managing Unpaid Bills & Expenses
As the financial year-end approaches, businesses need to ensure that all unpaid bills and expenses are properly recorded before closing the books. Overlooking outstanding supplier invoices or missing expenses can lead to incorrect financial reporting, cash flow surprises, and even compliance issues with tax authorities. Properly managing your accounts payable and expenses before year-end ensure…
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Record Keeping Requirements: A Practical Guide for SME Owners
Keeping accurate records is not just a regulatory requirement; it’s a cornerstone of running a successful business. Proper records ensure your business meets tax compliance requirements, simplifies financial management, and helps you avoid costly penalties. This guide provides SME owners with practical steps to maintain effective record-keeping systems and ensure compliance with New Zealand regulations.…
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Your guide to working multiple jobs
Working multiple jobs in New Zealand? Get the essential information on taxes, expenses, and ACC levies to stay on top of your freelance game.
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Understanding the Taxation of Share Investments in New Zealand
Learn how share investments are taxed in NZ, covering dividends, sales, and deductions. Get practical tax tips from Black Arrow Business Studio.
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Save Big This Season With Holiday Tax Deductions
Discover how your business can maximise tax deductions this holiday season with smart tips for staff gifts, parties, and more!