Entries by Giles

Tax Tips

This post is by Giles Ellis, an experienced business coach and Director at GECA Chartered Accountants. GECA offer Accounting & Tax Advice and Business Advisory Services. Inland Revenue have made some rates updates that we thought you might like to know about, these have been outlined below: Motor Vehicles The kilometre rates for 2019 are: […]

How to choose the right business structure for your residential rentals after ring-fencing losses were introduced

After you buy your first home and accumulate some equity in it it may be time for you to climb up the property ladder further. Now, when you are ready to start investing it is extremely important to do it right from the beginning. And the first question that needs to be asked is what […]

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 […]