Internal 2017-09-05T22:02:48+00:00

Business Support Videos

Disclaimer: these videos are brief and general in nature. You should seek professional advice before taking any action in relation to the matters dealt within them.

If you can’t back it up don’t say it from Commerce Commision

Forsite App helps with Health & Safety compliance

Health & Safety: Are documents good practice?

Health & Safety: Is Health and safety good for business?

Health & Safety: Can you dismiss an employee who doesn’t comply?

Health & Safety: Health and safety is not a scary monster

Free Resources

Access an online library of hundreds of business resources covering everything from finance, legal and IT to start up, staffing and HR best practices

Payday filing for employers

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On the 17th April IR implemented changes by moving other tax types and products to the new system from April 2018 onwards. Legislation has recently been passed that includes changes to:

  • Withholding taxes, Fringe Benefit Tax and Gaming Machine Duty
  • Automatic Exchange of Information – an OECD initiative to reduce and deter offshore tax evasion.
  • PAYE & Payday filing – voluntary from April 2018, mandatory from April 2019

Of particular importance is the change to PAYE & Payday filing which will affect all employers filing employee information to Inland Revenue. This communication to enable understanding of this change is important due to the requirement being mandatory in April 2019.

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Online tool to support wellbeing engagement

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As most businesses are aware, a happy, healthy workforce is good for business, but how do you make workplace wellbeing part of business as usual?

You could start with this free online tool, Good4Work, which was designed for NZ businesses by a national group of public health agencies.

Their research showed that while businesses valued the wellbeing of their employees and were keen to embed positive practices into their workplace, they often didn’t know where to start.

They would welcome a product that had “done the homework for them” and “took the thinking out of workplace well-being.”

Good4Work starts with a quiz to help you rate your workplace and identify priorities for improvement. You will then be provided with suggested strategies and resources to help you take action, all for free.

Click here to check out Good4Work.

Commerce Commission’s Guide to businesses on unfair contract terms

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The Commerce Commission has released yesterday on its website a Business guide to Unfair Contract Terms, aimed at raising awareness amongst businesses on their obligations under the unfair contract terms provisions of the Fair Trading Act.

Several quick guides and videos are available online. They address topics such as variation of the contract, cancellation, subscription and automatic rollovers, and tips for writing terms and conditions. While the animations are primarily addressed to businesses, we expect that consumers will also find these a useful resource.

Click here for more information.

Pay provisional tax only when you make a profit

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The Accounting Income Method (AIM), the new pay-as-you-go option for managing provisional tax through accounting software, is now available for small businesses with an annual turnover of under $5 million.

With AIM, you pay provisional tax only when your business makes a profit. AIM will suit businesses that are growing, new, have irregular or seasonal income, or find it difficult to forecast their income accurately. AIM makes managing cash flow simpler because provisional tax payments are based on a business’ actual results.

Here’s how you can start using AIM in the current tax year:

  • If you have a balance date of 31 March and file GST every month, you will need to pay your first provisional tax instalment by 28 May 2018.
  • If you pay GST every two or six months, or if you’re not registered for GST, your first filing deadline for AIM is 28 June 2018.

Software providers MYOB, Reckon and Xero are offering AIM in their tax management accounting packages. MYOB is also providing AIM to their business customers. You’ll find more information on their websites.

Talk to your software provider or tax agent about whether AIM is right for your business. Visit www.ird.govt.nz/aim for more information or take a look at the free webinars on AIM at www.cchlearning.co.nz

Privacy Law Reform One Step Closer

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On 11 April 2018 Parliament gave a first reading to a new Privacy Bill. The Bill has now been referred to the Justice Select Committee and is currently open for public submissions. If passed into law, the Bill would repeal and replace the current Privacy Act 1993 which has been in force for nearly 25 years. The Bill leaves many of the principles and provisions of the current Act untouched; however there are some important changes proposed.

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Inland Revenue’s changes make tax simpler for businesses

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On 17 April, Inland Revenue made changes to streamline business taxes. It’s part of the department’s commitment to create a modern tax system which is simple to use, makes it easy for everyone to get their taxes right, and fits as seamlessly as possible into people’s lives.

You will have seen and heard about the changes over the last few months, but here’s a reminder of what’s now in place:

  • The new ‘My Business’ section in myIR, where you can now manage tax types like Fringe Benefit Tax and Gaming Machine Duty. For help navigating myIR, visit here.
  • The ‘Accounting Income Method’ (AIM), a new ‘pay-as-you-go’ method for managing provisional tax, is now available. Talk to your tax agent or software provider about whether AIM is right for your business, and go here for more videos and information.
  • Parliament has recently passed legislation which will require employers to file PAYE information every payday rather than monthly. This is voluntary from April 2018 and mandatory from April 2019. Find out more here.

As always, we will be working closely with Inland Revenue to support you and answer any queries about the changes.

Click here for more information.

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Please email your business question 0800chamber@chamber.co.nz

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