Recent Updates

Minimum wage

April 2020

Minimum wage is set to increase to $18.90 effective 1/4/2020, with the Government’s aim to have the minimum wage at $20.00 by 2021. 

If you are an employer, please take time to look at your employees’ current wage rates to ensure that they are or will be at least $18.90 come 1/4/2020.

Xero: Hubdoc

March 2020

Xero have been busy! They have also announced that as of 18 March 2020, Hubdoc will be included in the cost of all Starter, Standard and Premium plans (Xero plans that include invoicing).

 

Hubdoc is a great product to help with record keeping. If you are interested, please get in touch and we can help you implement it for your business.

Xero: Subscription increase

March 2020

Xero have recently advised that their business editions (versions with invoicing) are increasing as of 18 March 2020.

Xero: XAP

December 2019

Xero has recently announced the introduction of XAP, which is a free* and 100% confidential support program offering face to face, online and telephone counselling.

 

This is a great initiative and Xero's belief "is that small business makes the world go around. So, we do everything we can to champion the people behind them."   

 

* Xap is offered free of charge to Xero Starter, Standard or Premium subscribers, their employees, and their families

ACC

December 2019

ACC recently announced a change to the way they invoice those that are self-employed.

The main change is that instead of a provisional and final invoice, those that are self-employed will now only get one invoice from ACC, after the levy year has finished and based on their actual earnings.

GST on low value imported goods

December 2019

The new rules came into effect 1 December 2019 and see overseas businesses selling goods valued at under $1000 (excluding GST) having to add GST to their invoices and pass it on to the New Zealand Government.

IRD update

November 2019

Some of you may have received an email from IRD advising that they will be contacting Tradies and encouraging them to include ALL income through their income tax and GST returns. This is a timely reminder to everyone that IRD is cracking down on ALL "cashies" and IRD has various ways of finding out about these jobs.

Undeclared cash jobs do have negative consequences resulting in tax penalties and/or a criminal conviction. You are required to keep all readable invoices and GST tax receipts for 7 years (80 years if you are a trust). This means that relying on the original is probably not an option. If you would like to discuss alternative record keeping options, please do get in touch.