Entries by Giles

Xero Tips and Tricks: Simplifying Entertainment Expense Accounting

Nowadays many of our business meetings are held in cafes and restaurants. However, costs associated with these meetings are treated as entertainment and subject to 50% non-deductibility. From an accounting perspective, typically entertainment expenses are treated as deductible during the year and then the 50% non-deductibility is applied as a year-end adjustment when preparing the […]

Tax Updates

This post is by Sheral Reddy, Associate Director at GECA Chartered Accountants and an experienced CA who specialises in tax and property compliance.    Avoid making loans between companies Avoid making inter-company loans if you are operating two or more companies. Unless the shareholdings in both companies are identical interest needs to be charged between […]

Family Business Succession Planning

This post is by Giles Ellis, an experienced business coach and Director at GECA Chartered Accountants. GECA offer Succession Planning and other Business Advisory Services. Set expectations at the beginning In New Zealand more than 60% of family owned businesses are transitioned to a second generation. However, this process can be fraught with difficulty and often lead to conflict between siblings and […]

Year End Tax Tips

by Sheral Reddy, Associate Director at GECA Chartered Accountants. If you need help with tax advice, including end of financial year preparation, then Sheral and the GECA team can help.  The end of financial year deadline  As the end of the financial year approaches, it always pays to spend a little extra time examining your financial records and considering […]

Xero vs MYOB – What works best for your business?

I bought my first fee book from a retiring practitioner in 2010. At the time MYOB was the incumbent accounting software provider to New Zealand small to medium sized businesses. Meanwhile Xero was a rising force with around 15% of the market. Coming from a corporate accounting background I was software agnostic. However at the […]

Tax Updates

This post is by Sheral Reddy, Associate Director at GECA Chartered Accountants and an experienced CA who specialises in tax and property compliance.  Anti-Money Laundering Legislation From 1st October, all accountants have to comply with the Anti-Money Laundering legislation. We are now required to put in place preventative measures to tackle these issues. This will […]

Following the chain of command for better business performance

This post is by Giles Ellis, an experienced business coach and Director at GECA Chartered Accountants.  As small businesses evolve to become larger and more complex, the original owner operator model that is often the basis for business operations needs to evolve to better meet the needs of the business. What is an Organisational Structure […]

Shareholder employee salaries – what is the right amount?

This post is by Giles Ellis, an experienced business coach and Director at GECA Chartered Accountants. An issue that arises up a lot with family business owners is the issue of non-commercial shareholder employee salaries.  In this article I’ll explain what these are, how it can become problematic, and what you can do to safe-guard […]