BDO Know How, April 2015

BDO Know How is our bi-monthly business newsletter providing updates on key business and tax issues which you need to know to best optimise your business.

We explore:

• Changing the face of Advisory
  BDO is excited to announce the nationwide launch of CrunchBoards. CrunchBoards is an award winning cloud-based platform that draws on your Xero data to create simple user-friendly reports that provide you with real-time analysis on how your organisation is performing. CrunchBoards will be able to assist you and your management team to see your organisation in a whole new way...
   
• Air New Zealand Airpoints loyalty credit cards
  There’s been lots of media attention around BNZ and Air New Zealand going their separate ways and new banks joining the significant airpoints loyalty scheme market. Without commenting on the pros and cons of the credit card options available, we would like to remind you that...
   
• IRD use-of-money interest rathes on the rise
  The IRD use-of-money interest rates on underpaid and overpaid tax will rise on 8 May 2015. The interest rate charged by the IRD on underpaid tax will rise from 8.40% to 9.21%, and the rate paid on overpaid tax will rise from 1.75% to 2.63%...
   
• Attention foreign companies doing business in NZ
  New Zealand law requires that all entities (whether New Zealand registered or not) that are required by statute to file financial statements with Companies Office must file audited New Zealand Generally Accepted Accounting Practice (NZ GAAP) compliant financial statements, even if you are a foreign entity and not required to report under GAAP in your local jurisdictions and/or do not have an audit requirement...
   
• Xero launches payroll solution
  Xero introduced ‘Payroll’ functionality to its accounting software on the 1st April,which allows business owners and their employees to schedule time off and view payment information from any device at any time...
   
• Budget 2015
  The Government has confirmed that the 2015 Budget 2015 will be delivered on May 21 and already there is lively discussion regarding the Government priorities As always, BDO experts will be providing comments on tax and business issues surrounding the announcements...
   
• Small Business Toolbox
  The tools can provide financial details of the industry in your area or can be used to pinpoint which locations might be fertile ground for a business. This is extremely useful for anyone wanting to start or grow a business...