If you employ people you need to take the time to understand a number of employment law changes.
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The profitability of any job undertaken by a field services business can vary significantly from expectations at the time the estimate for that job was created. Removing this variability and delivering consistent profits should be the goal of every business owner.
In December 2015, we started a GST pilot in which 1,400 businesses sent their GST returns from Xero direct to Inland Revenue. The very successful first phase of the pilot has just wrapped up. The small businesses who participated were enthusiastic:
Hands up if you recognise the process of; receiving an invoice, getting it to your bookkeeper, making sure it’s entered into your accounts, filing the invoice and then storing it for several years…
New proposals will give small business owners a pay-as-you-go option for provisional tax — income tax by another name. This is one initiative in a package of proposed tax changes aimed at reducing the stress of tax compliance for businesses.