Tax and Compliance
Tax and Compliance
With a team of Chartered Certified Accountants, based in Auckland, we provide the full range of accounting services to commercial and private clients, with a particular focus on small and medium-sized business.
Financial accounting focuses on the reporting of an organisation's financial information to internal and external users of the information, such as owners, management, investors, potential investors, creditors and other qualifying stakeholders.
It calculates and records business transactions and prepares financial statements for the users in accordance with generally accepted accounting principles. Financial accounting produces past-oriented reports—for example the financial statements prepared in 2020 reports on performance in the 2019 / 20 year, on an annual or quarterly basis, generally about the organisation as a whole.
Management accounting focuses on the measurement, analysis. Interpretation and reporting of information that can help managers in making decisions to fulfil the goals of an organisation.
In management accounting, internal measures and reports are based on cost-benefit analyses and management by exception. The principles of Management Accounting guide best practice in the discipline.
Management accounting produces both past and future-oriented reports—for example, monthly management reports on performance for internal consumption and review enabling management to recommend corrective actions or change business strategies that may not be working.
Management accounts provide meaningful information on cost, volume and pricing relationships of any business so that management can perform well.
The management accountants will usually be responsible for preparation of the business’s annual plan, annual budget and forecasting including quarterly reviews thereof in conjunction with the Chief Executive. Such reports may include both financial and non-financial information, and may, for example, focus on specific products and departments.
Tax law in new Zealand can be complex. All taxpayers are expected to declare their taxable income correctly and if you make a mistake or take a tax position that is not correct – the IRD can hurt you. Ignorance is no excuse.
Our knowledgeable Tax Team will guide you and ensure you understand what it means to be tax compliant. We act in a highly ethical manner and will not bend the laws but also understand that most tax-payers don’t want to pay more than their fair share of tax.
Whether it is Income tax, GST, land taxes, fringe benefit tax, international tax or customs duty GST – our experienced Tax Team will not only guide you through all the legislation, they’ll also help you understand what it means to you and find the best solution from both a tax perspective and a commercial one too.
NZ tax law covers all forms of business ownership including Sole Traders, Partnerships, Trusts and Companies and special purpose vehicles. We know the law and are experienced in all these areas and assist our clients accordingly.
Company and personal income are taxed at different rates, both varying according to income levels and including varying marginal rates (taxed on each additional dollar of income) and average rates (set as a percentage of overall income).
We can also assist with prior year catch-ups and IRD audits.
Virtual Chief Financial Officer (vCFO)
To free you up, so you can concentrate on what you are good at, we take care of your entire accounting function. Our Virtual CFO services provide you with the experienced strategic support you need, at an affordable fixed cost.
Click here to find more about the Objectives of a vCFO, your measures of success and the value that the vCFO brings to you and your business.
Starting up a Business in New Zealand?
We can help you:
- to set up business in New Zealand
- to incorporate a company in New Zealand
- with all types of New Zealand taxation and IRD compliance
- with setting up accounting systems such as Xero, MYOB or QuickBooks
- business development and business coaching
- meet your company and commercial law compliance obligations
The Tax, Audit and Business Development team will not only guide you through all the legislation, they'll also help you understand what it means to you and find the best solution from not only a taxation perspective, but a commercial and if necessary an audit perspective as well.
We are a multi-cultural firm of experienced and qualified Chartered Accountants, with accounting technicians and graduates in our team. We have people who can communicate with you in English, Mandarin, Cantonese, Russian, Hindu or Romanian.
Wanting to Grow your Business?
In addition to doing your accounts and tax returns to a high standard, we can help you increase your profitability.
A brief history of Accounting
The history of accounting can be traced back thousands of years to the cradle of civilisation in Mesopotamia.
One of the world's oldest continuously inhabited city (at least 11,000 years old) is Jericho, a city located to the west of the Jordan River.