canterbury

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August 2019

Major Changes to Trust Legislation in New Zealand

August 6th, 2019|General|

New Zealand’s trust law has been updated and improved for the first time in more than 60 years.  The new Trust legislation was passed on 30 July 2019 and will come into force in 18 months’ time.  The 18-month timeframe is designed to allow trustees the necessary time to ensure that the trust will be [...]

June 2016

Changes to land sales could affect you

June 13th, 2016|General|

Changes to land sales could affect you Are you selling residential land? From 1 July 2016, a new withholding tax – residential  land withholding tax (RLWT) –may need to be deducted from a property sale/disposal where the property being sold/disposed of is in New Zealand and meets definition of 'residential', and the vendor: acquired the property on or after 1 October 2015, and has owned it for less than two years before selling or disposing of the property, and is an offshore RLWT person Obviously, this affects non-residents. Less obviously, an 'offshore RLWT person' includes New Zealand resident companies who have shareholdings of 25% or greater held by foreign [...]

October 2015

5 Benefits of Doing Business in the Cloud

October 15th, 2015|General|

5 Benefits of Doing Business in the Cloud There is no doubt that there are exceptional benefits to be accessed by adopting cloud software in business. For many though, the ‘cloud’ is unknown and scary, and this can be a major hurdle to considering changes. With a bit of education and communication of key benefits, [...]

How to add a condition to an existing bank rule

October 14th, 2015|General|

How to add a condition to an existing bank rule Once the Bank Rule is set up, you still need to add new places you visit as a ‘condition’ to the existing bank rule you have already set up. Go to Manage Account on your dashboard and click Bank Rules Go into existing bank rule [...]

How to add a Bank Rule in Xero

October 13th, 2015|General|

How to add a Bank Rule in Xero If you deal with cash transactions or don’t enter all transactions in Xero before you import bank statements, set up bank rules: a quicker and easier way to reconcile imported bank statements. With bank rules you define the conditions for each rule to match with your imported [...]

Xero Business Connect: accounting’s next revolution

October 9th, 2015|General|

Xero Business Connect: accounting's next revolution Importing and exporting data and invoices into accounting software is not the most exciting task. Let's be honest. So Xero are working hard to help its users speed up their data entry process with Xero Business Connect. The Business Connect ecosystem is still in its infancy stage with just [...]

Using Xero and have an smartphone or tablet?

October 8th, 2015|General|

Using Xero and have an smartphone or tablet? Use Xero’s mobile apps to manage your business while you’re on the move. Reconcile, send invoices, add receipts and create expense claims – anywhere, anytime – on your iPhone, iPad or Android smartphone. Make bank rec your morning ritual Get a clear picture of your business and [...]

Keeping safe online is very important

October 6th, 2015|General|

Keeping safe online is very important We’re aware of the increasing number of phishing scams that are targeting the customers of banks and other large companies. A phishing scam is when malicious emails target customers by pretending to be from a legitimate company such as Xero, using an email address like message-service@post.xero.com. They're not targeting [...]

IRD’s mileage rate decreases

October 2nd, 2015|General|

IRD’s mileage rate decreases The Commissioner has announced the result of the review for the 2015 income year for persons whose business travel is 5,000 or less in an income year. The review resulted in the mileage rate being reduced to 74 cents (from 77 cents for 2014) per kilometer for both petrol and diesel [...]

New rules relating to property from 1 October 2015

October 1st, 2015|General|

New rules relating to property from 1 October 2015 These are the proposed new objective bright-line test for land sales which will impose income tax on any gains from residential property acquired and disposed of within two years. An exception is provided where the disposal is of a person’s “main home” as defined. The new [...]