Our Services
Accounting Services
Annual Financial Statement Reporting (compilation)
is our core accounting service. We provide these services to business, farming, professions, retail or service industries, and investment activities, operating through a range of ownership entities (companies, trusts, partnerships, & sole traders) complying with taxation or other reporting requirements.
We can provide more frequent
regular management financial reports
where requested. This is usually either 2 or 6 monthly to match GST reporting periods.
Farm Accounting:
This is a specialized area with specific business, financial and taxation issues. Being a rural based accounting practice we are committed to ongoing Continuing Training in all aspects relevant to providing up to date farm accounting and tax advice.
Due Diligence:
Obtaining comfort around the financial performance of a potential business acquisition can be a daunting task. We have the expertise to ask the right questions to critically examine and review the financial information. Prudent purchasers and financiers seek external professional help with Due Diligence to ensure all facets of the acquisition are considered prior to making an unconditional offer. We welcome enquiries from existing and prospective clients.
Additional Accounting Services
we can provide are regular Payroll, Accounts Receivable (Debtors), and
Accounts Payable
(Creditors).
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Taxation Compliance
Income Tax:
Our core tax service is the preparation of annual tax returns required to be filed by companies, trusts, partnerships, individuals (including family assistance returns where required). This service includes regular ongoing management of provisional & terminal tax payments to be paid by various due dates (at standard calculated value or estimate filed with IRD).
GST:
We complete GST returns for many clients. This usually adds only a small increase to the annual accounting cost due to the fact that GST is an integral part of the accounting & tax compliance function of a business.
Imputation Account Returns and Dividend RWT Returns:
- These company tasks are best left to your accountant and should be reviewed at least six monthly to ensure cash distributions from companies are matched to dividends and correct tax paid.
Other Tax Services
we are able to provide include Donations Rebate Claims, RWT on Interest (calculation, payment, annual reconciliation & RWT Certificates), Fringe Benefit Tax, and PAYE Returns (includes Student Loan, Child Support, Kiwisaver).
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Taxation Planning & Advice
The right tax advice at the right time can result in substantial tax savings. We have the knowledge and experience to provide up to date practical and innovative tax advice to ensure you maximise your hard earned wealth.
- We provide
advice on all tax types
, including Income Tax, Working For Families, GST, FBT, PAYE, Imputation, RWT.
- We can
advise on taxation consequences of proposed or pending property or business sale or purchase transactions
. We recommend you seek appropriate taxation advice prior to completing negotiations for property or business sale & purchase transactions (including company share transfer transactions).
- We can provide a
review of the taxation issues of your existing business ownership structures
and activities and
tax planning advice on restructuring
for taxation minimisation.
Company Formation & Compliance
Companies are a common form of legal structure used for the ownership and operation of a business. We recommend companies be used in many circumstances, however they are not appropriate in all situations and have increased compliance and legal requirements (and cost) imposed by the Companies Act, and have specific tax issues to consider and manage (Income Tax and FBT). Anyone using a company needs to have an understanding of what a company is, how it operates, and of the roles and responsibilities of shareholders and directors.
Companies are a specialised structure that should be used with the assistance of a Chartered Accountant (to comply with Companies Act and Income Tax Act legal requirements). This assistance should be throughout the life of the company - from formation to liquidation. We have extensive practical experience and training in all aspects of companies and are able to undertake the following tasks:
- Company Formation
.
- Company Administration
.
- Share Capital Increases or Reductions
.
- Company Amalgamations
.
- Solvent Company Winding Up
.
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Trusts
As with companies, Trusts are a common form of legal structure used for the ownership of certain business, property and personal assets. We recommend Trusts be used in many circumstances for the benefits they can provide if set up and managed properly, including Asset Protection, Tax Efficiency, and Succession Planning. However, Trusts are not appropriate in all situations and have increased compliance and legal requirements (and cost), and have specific tax issues to consider and manage. Anyone using a Trust structure needs to have an understanding of what a Trust is, how it operates, and of the roles and responsibilities of Settlors, Trustees, and Beneficiaries.
Trusts are a specialised structure that should be used with comprehensive professional support (considering both Trust and Income Tax Act implications). We have extensive practical experience and training in the operation of Trusts and can assist you with:
- Advising on the suitability of a Trust
.
- Liaising with your lawyer during the process of Trust Formation
.
- Trust Administration
.
- Independent Professional Trustee:
- We believe it is best practice for Trusts to have an independent trustee (ie, not the settlor or a beneficiary) who has the professional training and experience in this specialised area. We will consider new appointments on a case by case basis provided certain minimum criteria are met.
Business & Company Share Valuations
A valuation (independent or not) of a business provides the business owner or prospective purchaser with answers to the questions they often need to ask about the value of that business. This may be a valuation in preparation of possible sale or purchase and your circumstances will determine if the valuation is to be independent or not.
We are trained and experienced in business valuations and are able to provide you with guidelines for evaluating the worth of a business.
An independent valuation is prepared in line with different standards than an appraisal valuation. If a full independent valuation of a business or company is required, and we can establish our independence, we are able to under take such engagements to the professional standards expected as documented by the New Zealand Institute of Chartered Accountants.
Budgeting & Business Planning -
"
Plan to Succeed
"
The old adage "to fail to plan is to plan to fail" is as true now as it has ever been. Every business should know where they are now, and based on current expectations where they expect to be in 12 months and 5 years time.
We have robust budget models developed in-house over the past 20 years that allow comprehensive budget preparation for a single year or multiple years. These models are designed to budget for monthly business activity (income and expenditure), and then applying assumptions to report the projected monthly cash flows and the end of year Financial Position. We encourage our business and farming clients to use our budgeting expertise to help provide a forward thinking focus to financial reporting, business financial management, equity and debt funding requirements, future tax payment planning, and profit distribution.
Once prepared, budgets can be monitored against actual financial results each reporting period.
We also have expertise with the development of full Business Plans, incorporating strategic planning, setting of objectives & goals, defining the market, description of products/services and business processes, quantifying required resources (staff, plant assets, funding), setting financial and management structures, debt repayment and dividend policies.
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Business Management & Advisory Services
Business Startup: If you are new to business we can help turn your business ideas into a reality. Turning great ideas into reality should involve a team of professional advisors. We can lead that team, ensuring you have the right expertise in the legal and financial aspects of creating a new business, including deciding on the most suitable business structure, preparing a business plan and cash flow projections, assessing your finance requirements, preparing the necessary proposals and establishing sound working relationship with your bank and financiers, registering with Inland Revenue, and establishing accounting and management systems (including IT).
Management, Mentoring & Advisory Services: We can work with you as you deal with ongoing management of your business, including employment issues, management accounting, pricing & costing, and any other business advice.
Capital Restructuring: Are you under capitalised? Do you have the appropriate debt to equity levels? We can look at these areas to ensure you are operating with an efficient capital structure.
Investment & Capital Expenditure Appraisals: We can advise in situations where major investment is being considered to ensure appropriate criteria for the decisions being made.
Financing Applications: We can help you identify the most appropriate source of funding and assist your application so that it presents the financial information needed in a way that is most likely to achieve a positive result.
Setting up Internal Accounting Systems and Procedures: Good systems and procedures are critical to ensure accurate, timely information is obtained. We can review your current systems and suggest solutions or work with you in setting up new systems appropriate for your business (manual or computer based).
Succession, Retirement, & Estate Planning: Succession is an essential element of any business planning and should be considered well in advance of any decision you make to move on from your business. To achieve personal and business objectives, your succession needs to have clear direction and a defined, focused strategy. We can work with you to provide you with direction as you plan for your exit from your business.
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We work with all accounting programs and can help with operating and balancing these. We have experience with MYOB, Banklink, CCR Cash Manager (Business & Rural), & Xero.
We have Xero Software trained & certified people. We recommend that we arrange Subscription & setup of Xero Software for your business.
