This year has thrown us many curve balls and challenges that we've had to rise to, plus many times to celebrate as well. As 2020 comes to an end we hope you are able to enjoy a nice break over the Christmas and holiday period.
At Flashpoint Accounting we are busy planning ahead to the end of the financial year to ensure all deadlines are met. Recently we have welcomed Sarah Harrild, Accounts Administrator to our office, to help specifically with GST processing. As mentioned previously, we have now moved from our Lawrence Road address and will be in a new location in the coming months.
With the holidays fast approaching, as an employer you will need to know rules and regulations with regards to leave and other matters. Employment NZ has a great website that you should view, including their top five employment tips to help employers and employees prepare for the Christmas period... Annual close-downs, working on public holidays, payment of time and a half, cashing up annual leave and more. They also have a regular newsletter that you can subscribe to for great up-to-date information in this ever changing business environment.
Christmas is a time to celebrate and give thanks to your clients and staff. From an accounting perspective you need to be aware of what entertainment and gifts may be tax deductible, and at what rates. The IRD has an overview and full guide here.
As always you should note your tax obligations now before you go 'on holiday mode' … The immediate ones you should note are:
GST filing and processing (for the October/November period). Due at the IRD by 15 Jan. If we assist with your GST processing, please ensure all information and queries are provided to us by Friday 18th December.
PROVISIONAL TAX: Paying provisional tax helps you manage your income tax in payment instalments. Provisional Tax notices have now been emailed out. If your expected notice is not received, please contact us immediately. If you feel your taxable income has changed substantially recently (as it may well have due to Covid-related business issues), please contact us to discuss if your provisional tax needs to be adjusted.
Please have a look at our December 'Accelerate' newsletter, via the articles links on the right...
Our office will be closed from 23 December - 11 January. Luke will be checking his emails periodically over this period for urgent queries.
Seasons Greetings to you and your families.
Luke Canton, Helen Canton, Veronica Griffin, Sarah Harrild & Philippa Muller
Flashpoint Accounting Ltd
18 December - Final date for GST information to Flashpoint Accounting for the Oct/Nov period.
15 January - GST due (Oct/Nov period).
15 January - Provisional Tax due (2nd instalment).
If you are unsure if you have a tax payment to make please get in touch.
For a full list of tax related important dates please see the resources page on our website More....
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