Small to Medium Sized Businesses, Tradies, Real Estate Agents, WHT Contractors, Landlords and Lifestyle Blocks.
Financial Accounts Preparation
These Statements show your profit or loss and the financial situation of your business at the end of a financial year, for a full 12 month period and are used to complete your Income Tax Returns for filing and processing with Inland Revenue.
Every company, shareholder, sole trader, partnership, operating trust, landlord, WHT contractor must file an Income Tax Return with Inland Revenue. This is a legal document declaring your income that is subject to Income Taxes. Source information for these returns is usually from your financial statements.
GST Returns (Both prepared in-house or via training with a client)
For GST registered businesses, these are returns that are regularly prepared (most commonly every two months) and filed with Inland Revenue, as the Government's method of collecting GST paid to businesses by consumers.
Fringe Benefits are both monetary and non-monetary benefits of being a shareholder or employee of a company (most common example is having unrestricted use of a company vehicle). To have this cost that a company pays, an additional tax called Fringe Benefit Tax (FBT) is charged (as well as tax deductible). Very useful tool in enabling tax deductibility of expenses that would usually be deemed as private expenses (and therefore not tax deductible).
Looking at what goals you may set within your business, as well as reviewing costing structure/capture of consumables/incidentals which if not recovered, can adversely affect your bottom line and cash flow.