THRIVE – the Greenhawk newsletter – is for ambitious business owners who want practical strategies for boosting business profits, while taking care of people and the planet. Get it here.
Talk Talk: July 2024
Today (1 July 2024) is significant for many landowners as the bright-line test returns to a two-year period. This will allow some landowners to sell/transfer properties without a resulting gain being taxed. As always, the legislation is not straight forward. Read on for Alex's full run down.
The hidden costs of discounting
In the competitive world of business, many companies are tempted to use discounting strategies to attract customers and boost sales. While this tactic might offer short-term gains, it can have serious long-term effects on profit margins and overall financial health.
Talk Talk: June 2024
Last week’s budget was uneventful, as expected. We saw a change to personal income tax thresholds, an extension of the Independent Earner Tax Credit, an increase to the In-Work and Minimum Family Tax Credits, an increase in the Student Loan interest rate, and the rollout of the FamilyBoost Scheme.
Thriving in tough times
In the face of an economic downturn, many businesses struggle to prevail, let alone prosper. Here are snapshots from four Greenhawk clients who are not just surviving the current recession, but thriving, and the key lessons they offer.
What’s the financial story of your business?
Every business has a financial story – a narrative woven through the numbers that speaks to its past, present and future. Understanding this story is a bit like learning a new language; the most important language you can learn as a business owner.
Talk Talk: May 2024
How many changes have there been in the tax world lately? A lot! Shorter bright-line test, an increase in the trustee tax rate, restoration of interest deductibility for residential rentals, removal of commercial building depreciation, and the introduction of an ‘app tax’ for starters.
Financial fraud risks and safeguards for 2024
The financial fraud landscape is bad and it's getting worse. Armed with artificial intelligence, the tactics fraudsters are employing are becoming ever more sophisticated. Here are some recent examples, plus some safeguards to put in place in your business.
GST changes for short-stay accommodation hosts
A GST change taking effect on 1 April 2024 will impact the majority of short-stay accommodation hosts. From this date, booking platforms like Airbnb will be required to collect GST on behalf of hosts, whether they are registered for GST or not.
Staying sweet on sales
We’ve been talking sales with many of our clients lately. More specifically, analysing and enhancing sales performance. It’s often something that big businesses do well, but smaller businesses struggle to find the time to attend to. Here are three practical, impactful steps you can take to get – or keep – your sales humming, whether you’re a solo operator or a team of 20.
Working remotely for an overseas employer?
There are many residents of Wānaka and Queenstown who are working for a remote employer but may not be paying their taxes in the right country. Let us explain why it pays to get this right. With an increase in flexible working arrangements and global mobility for employees...
Bright-line Test changes: Potential tax refund
The Bright-line Test taxes a gain on residential land when it is bought and sold within a five or ten-year period. This is unless the owner lives on the land and is eligible for the Main Home Exclusion. For residential land acquired between 29 March 2018 and 26 March 2021...
Tax changes for Airbnb hosts
Airbnb rentals or ‘short-stay accommodation’ has become a familiar part of our landscape. Some hosts rely on income to fund their own holidays, while others have turned it into a full-time business. Due to the varying scale of activities, you may have a host who only rents...