Financial Accounting, Management Accounting, IRD compliance work, Tyler Price Accountants Ltd , Auckland, New Zealand

June 2019 Newsletter

Sat, 29 Jun 2019 23:00:00 GMT

Hello and welcome to our June newsletter. It's been a pretty soggy start to the winter and it's hard to believe that the year is already half over! We've turned up the heating in our office and, as always, look forward to seeing you when you pop in with your information or to sign off your accounts.

As many of you are aware, we have had a pretty tough quarter, courtesy of Inland Revenue and their new system which they chose the worst time of the year in which to introduce. Its certainly come with some challenges which we will talk about later in this newsletter.

Upcoming tax payments

For those of you who are registered for GST 2 monthly, your GST return for the period ending 31 May is due to be filed with Inland Revenue by 28 June 2019 . If you haven't already done so, please send us your information ASAP so that we can get your return filed on time. Please call if you need any help or if you are unable to get your information to us.

On 28 August 2019 , both July GST returns and the first instalment of provisional tax for those of you not registered for GST or registered for GST on a 2 monthly basis will be due. As always, we will send reminder notices to pay this provisional tax 3 weeks before the due date. Please ensure that we have your correct email address to which to send these notices .

Those of you registered for GST 6 monthly who pay provisional tax: your first instalment isn't due until 28 October 2019 - so don't panic if you don't receive a notice in August.

KiwiSaver Deadline

Just a reminder that the Government contributes 50 cents for each dollar you contribute to your KiwiSaver account, up to a maximum of $521.43 per year. To receive the full annual Government contribution, you'll need to contribute at least $1,042.86 between 1 July and 30 June each year and meet the eligibility criteria. You'll be able to receive the annual Government contribution from the age of 18 up until you're eligible to make a KiwiSaver retirement withdrawal as long as you live mainly in New Zealand. If you haven't contributed at least $1,042.86 for the current year, we recommend you make your payment by the end of this week.

ACC Payments

We have become aware that ACC are automatically taking payment in full where taxpayers have previously signed a direct debit form. Please read your ACC invoice carefully so that you are aware of when payment will be taken.

Request for information from banks

New Zealand banks are warning that some customers could have their accounts frozen if they don't respond to requests for information.

As part of their regulatory obligations, banks are required to undertake due diligence on the foreign tax status of their customers.

To fulfil this duty, all banks have been contacting customers requesting details on their status. If you've been contacted, it's important that you respond to your bank, regardless of your tax status. If you don't respond, or if your response is incomplete, your bank will be required to freeze or close your accounts.

Ring-fencing of Rental losses

The government is still working through the legislation for ring-fencing rental losses but, regardless of how long this process takes, there is no doubt that it will be backdated to 1 April 2019. We were pleased to see that many of you took our advice and got as many property repairs completed before 1 April as you could. Please be aware that moving forward, if your expenses exceed your income in any one year, the excess expense will be pushed forward for offset against future profits instead of being offset against other income.

We are aware that some of you have, or are considering, selling your rental properties as a result of this legislation. Please do consider this if you are going to struggle to keep up your mortgage payments moving forward. However, please let us know if you are considering this option so that we can advise as to any tax implications of this.

Wills and Powers of Attorney

Although none of us like to think of this subject, we need to be aware that there is a fine line between life, death and incapacity and we need to plan for this. A recent conversation at a 21 ^st birthday party revealed that many young people believe that life insurance is a rip-off because most people who take it out stop it before they receive a payment! Life insurance is usually necessary if you have debt and dependents so please don't listen to the man in the pub and assume that it is a waste of money. Likewise, please consider keeping your will updated and having power of attorney in place, just in case. Also keep details of the names of your lawyer and accountant along with your important documents so that people know who to contact when required. Please note that if you die without a will (intestate) then administering your estate becomes complex and expensive and your assets may not be distributed as you would wish.

Anti Money Laundering (AML) Legislation

Thank you to everyone who has sent or brought in the AML documentation. For those of you who haven't yet done this, please note that it is a legal requirement for us to do this (just like your bank, lawyer and real estate agent) and that the fact that you may have been through the procedure with another provider doesn't prevent the requirement for us to also do this. We appreciate your assistance with this matter.

Inland Revenue

As mentioned above, despite protests from every tax agent in the country, Inland Revenue closed down over the Easter/Anzac Day period to transfer all of the income tax and PAYE data onto their new system. They were under the illusion that it would be a seamless transition over a period when everyone was on holiday and that everything would work perfectly from day 1.

The reality was very different! Their new system is an off the shelf product from Canada, who has a similar tax system to us, but do not have the likes of ACC, Working for Families or Student Loan administered through the tax system. Although we are confident that eventually the new system will be adequately modified to cope with the NZ tax environment, in the short term it has caused substantial additional work for us and, most concerningly has left us without visibility of a lot of features which we used to take for granted. The main one of these being, that for the first month after installation, we had no data feeds into our system, meaning that we were unable to chase clients for missed tax payments. It has also put us well behind schedule in regards to completing tax returns.

We would like to take this opportunity to apologise for any inconveniences these issues have caused our clients. Please be assured that we are working as hard as we can to work around the IRD issues and get back on track.

Payday Filing

As part of the transition to the new system, IRD have also brought in payday filing which has proven, in many cases, to be quite onerous. For those of you that aren't aware, the PAYE job that we used to do once a month, now must be done every time you pay an employee or contractor for whom you deduct withholding tax. Up until now, IRD have allowed some lee-way for people who have failed to file the information within 2 days of payment, but they will begin to impose penalties shortly, so you need to have robust systems in place to fulfil this obligation.

If you currently pay contractors on an ad hoc basis, we suggest that you simplify matters by paying people together and regularly – on the same day each week or each month.

You could also consider outsourcing your payroll to a payroll intermediary company such as Smart Payroll, iPayroll or Thankyou Payroll, who, for a small weekly fee, calculate the pays, pay the staff and file and pay Inland Revenue. All you need to do is submit the timesheets and pay the intermediary – they do everything else.

As always, we look forward to assisting you with any queries you may have so please don't hesitate to contact us if you need help.

From the team at Tyler Price – Isobel, Abbey, Bryony, Caroline, Karen, Lichelle, Tina, Virginia and Tilly

March 2019 Newsletter

Sat, 30 Mar 2019 22:00:00 GMT

Hello and welcome to our first newsletter for 2019.

After a fabulous summer, there is definitely a slight chill in the air in the mornings. That heralds the end of another tax year here for us so we will be emailing our annual questionnaire to you shortly. Please keep an eye on your inbox for this.

Please note that this newsletter contains information regarding major tax changes which may affect you so please read it to ensure that you are informed of these changes.

Important Upcoming Tax Dates

By now, those of you who have an extension of time should have received your 2018 terminal tax notices. This tax is due on the 7th of April . Don't forget that if you are sending a cheque, it must be received by the 7th so get it in the post in plenty of time!

We'll also be emailing out the tax notices for the 2019 final provisional tax instalment shortly (payment due on the 7th of May ). Please look out for these in your inbox.

If paying either of these taxes by the due date is not possible, please don't stress! Get in touch with us as soon as you can so we can either set up a payment arrangement with Inland Revenue or buy your tax from one of our tax pool suppliers.

For those of you who are GST registered and your returns are aligned with a 31 ^st of March balance date, your due date for filing and payment of your March GST return will be the 7th of May . Note that this is our busiest time of the year so please get your information to us as soon as you can to ensure we can meet the deadline.

Additional requirements for 31st March

· Record your debtors (people who owe you money) as at 31 March 2019.

· Record your creditors (people you owe money to) as at 31 March 2019.

· Carry out a stock take, if you carry and sell stock.

· Keep a copy of your RWT certificates, income protection insurance certificates and evidence of your company or trust's bank balance at 31 March. Scan them directly to us if there is a chance you may lose them!

School donations

It's that time of the year again when school fees and donations are being paid. Don't forget you can claim a 33% rebate on these donations (as well as donations to most charities), so please remember to include these in your receipts if paid by the 31 ^st March 2019. Note that activity fees and some levies imposed by schools are not claimable so we must have your receipt to ensure we are only claiming the donation part of the payment.

Payday Filing

All of you who are registered as employers should be well aware by now (thanks to IRD's ruthless campaign of harassment) that Payday Filing becomes compulsory on 1 April.

The software developers are all putting their final touches on their systems so that those of you using Xero, MYOB or Ace Payroll should be able to file, with a push of the button, from the start date.

Those of you on manual systems need to set up your business MyIR account with the new PAYE system. We've started to use this and are finding it very user friendly.

Please note that you must file returns every time you pay an employee or contractor for whom you deduct withholding tax. It should be done within 2 days of payment. We recommend that you simply make it part of the payment process, so it doesn't get forgotten. If you currently pay contractors on an ad hoc basis, we suggest that you could simplify matters by paying people together and regularly – on the same day each week or each month.

If you have any queries please contact us!

Inland Revenue Closedown

Please note that IRD are closing down from 3pm on the 18 ^th until 8am on the 26 ^th of April to move Income Tax onto their new system. In that time there will be no access to their phones or website. Whilst we are very pleased that this is finally happening (all tax types will now be accessed together) their timing could have been better from our perspective! What this shut down will mean, however, is that we have been granted an extension for filing and paying March PAYE. The return and payment will be due on the 26 ^th of April instead of the 20 ^th . So don't panic if you can't file your return by the normal due date because of the closure.

Important Tax Changes for Property Investors

Rental losses to be ring-fenced

From 1 April 2019 losses made on rental properties will be ring-fenced so they can only be offset against future rental income. So those of you who currently receive tax refunds due to the offset of rental losses against other income, this will be the final year you will receive these. If you are relying on these refunds, we therefore recommend:

1. You complete any required repairs and maintenance before 31 March 2019

2. Consider your options in regards to continuing to own your rental property

We are happy to advise if you wish to discuss.

Proposed Capital Gains Tax

We are receiving lots of queries in regards to this. Please note that it is very early in the process and no-one at this stage knows what regime we are likely to end up with. Our advice at this stage is to not panic. If capital gains tax is introduced, we expect it will only be imposed on gains made from the date the legislation comes in and you will have plenty of opportunity to have your house, shares or business valued at that date so you won't be taxed on historical gains. We will keep you informed as things become clearer!

ACC Levy Refunds

ACC have been issuing vague letters that tell you that you may be receiving an ACC refund. These letters are, in fact, genuine although no guarantee of a refund. In short, they have discovered an error, whereby, sole traders who were levied provisionally and then ceased to operate as a sole trader, may not have been reimbursed the provisional tax levy. The refunds are generally fairly small so our advice to you if you receive a letter is to wait and seen if something actually comes of it. If it does, please be aware that this will be taxable as you would have claimed it as a tax deduction at the time payment was made.

Time to consider your software options

The start of a new tax year is the perfect time to switch accounting systems if this is on your agenda. For those of you considering moving onto Xero or MYOB Live please get in touch with us as soon as you can to get this in place before 1 April.

Anti-Money Laundering Legislation

Thank you to all of you who have come in with your proof of identity and address, or sent in certified copies. For those of you who have not yet done this, don't forget to bring these in next time you are in our vicinity.

Staff Update

We are pleased to advise that Bryony returned from maternity leave in February and is now well and truly settled back in. She's working Tuesdays, Wednesdays and Fridays, so for those of you for whom she is your accountant, feel free to contact her if you need assistance.

The team at Tyler Price would like to wish you all a very happy and relaxing Easter. As always, we look forward to assisting you with any queries you may have coming up to the end of the financial year, and we are only too happy to be able to help.

From the team at Tyler Price – Isobel, Abbey, Bryony, Caroline, Karen, Lichelle, Tina, Virginia and Tilly.

December 2018 Newsletter

Sun, 30 Dec 2018 22:00:00 GMT

Hello and welcome to our final newsletter for 2018. It's been a huge year with major changes for us and we are all looking forward to a relaxing break over Christmas. As always, we'd like to take this opportunity to thank you for your continued support and we look forward to seeing you again in 2019.

In this issue we look at:

· Christmas office closure and re-opening dates

· Important upcoming tax dates

· Staff Update

· Bookkeeping Service

· Payments to Inland Revenue

· Anti-Money Laundering Legislation

· Audit Insurance

· IRD Scam Emails

· GST Payment Arrangements

· Increase in Per Diems

· Make a Will!

Christmas Office Closure

The office will be closing for the Christmas break on Wednesday the 19 ^th December and will be re-opening on Monday the 14th January. The office@tylerprice.co.nz email will be periodically monitored throughout the closedown period, so if you do need our assistance during this time, please email this address and someone will get back to you as soon as possible.

Important Tax Dates

Provisional tax payment notices have been sent out to those of you required to make a payment on the 15 ^th of January 2019 . PLEASE DO NOT FORGET TO PAY THIS TAX! If you have any questions regarding this please contact us before the office closes for the Christmas break so we can assist you if need be.

For those of you who file GST two monthly, your November GST will also be due for payment on the 15th of January 2019 . If you are heading away for Christmas, it would be best to get your information to us well before you leave.

And after that:

7 February 2019 Terminal tax due for taxpayers who do not have extension of time (non-complying taxpayers)

7 April 2019 Terminal tax due for taxpayers who do have extension of time.

Staff Update

After much anticipation we are very pleased to announce that Lichelle had a baby girl, called Nina, on the 25 ^th of October. Lichelle is currently planning to return to work on 1 October next year.

Bryony, who left us to have baby Tess in December last year, will be returning to work on the 19 ^th of February, so she will be picking up the bulk of Lichelle's clients. Most of you will already know Bryony, as Lichelle was her replacement when she went on maternity leave!

Bookkeeping Service

For those of you who struggle to keep up with your paperwork, we are very pleased to advise that we are now offering a bookkeeping service at a very competitive rate. If you are interested, please contact us.

Payments to Inland Revenue

We've noticed that a few of you have a habit of rounding up payments to Inland Revenue to the nearest dollar. Please do not do this! Inland Revenue don't write these overpayments off – we have to manually transfer them to other periods or tax types. This takes time which we must charge you for.

Anti-Money Laundering (AML) Legislation

We are now 2 months into the AML legislation requirements. Thank you to all of you who have provided the additional information that we must receive in order to fulfil the requirements. We are in the process of sending out letters to all of our clients asking for verification of identity and residential address. We would appreciate your prompt response to these requests. We understand that this is a frustrating process, but unfortunately it needs to be done.

Audit Insurance

We have noticed over the past few months that there has been significantly increased activity by Inland Revenue in the checking of information provided to them. We have received a few letters and phone calls asking for back-up documentation for expenses and donations claimed. In particular they are targeting rental properties with large repair bills, tradies and hospitality businesses. But we have also had a review on one of our film industry clients so it appears that they are throwing their net quite wide. Audit insurance pays for our time from the initial phone call or letter to resolution. It's not too late to take out this insurance if you are concerned that they may come knocking.

IRD Scam Emails

We've also noted an increase in scam IRD emails, claiming that you are due a refund. Please note that IRD will never send you a direct email with a link so if you receive one, delete it immediately. If you have a MyIR account, log into that and check to see if you have any outstanding matters. If you don't liaise with the IRD directly, then check with us as to the validity of the email.

GST Payment Arrangements

For those of you who do not put enough GST aside to pay to Inland Revenue on the GST payment dates, there has always been an option to make an arrangement to pay by instalment. It's not an option that we particularly encourage, because IRD charge a 1% penalty and interest on the balances owing. However it can be handy when things go wrong. However, many of you face the same issue for every GST return you file and so are continuously on payment arrangements. IRD have now had enough of this and are refusing to make arrangements for repeat "offenders". Without the payment arrangement additional penalties accrue very quickly.

So please be aware that GST is not your money and must be paid to Inland Revenue on the due date. Either put the GST portion of your income received in a separate bank account (and leave it there) or pay it directly to Inland Revenue as soon as you receive it.

Rental Property Ringfencing

It now looks extremely likely that rental property losses will be ringfenced from 1 April 2019. This means that if your rental property runs at a loss for the year, you won't be able to offset that loss against other income. Instead, it will be carried forward for offset against future rental profits. However if you have more than one rental property in the same ownership, you can offset a loss in one against a profit in another.

As large repairs and maintenance can often be the factor which pushes your property into a loss situation, we recommend you carry out any required repairs before 1 April 2019.

Increase in Per Diems

Finally, after 15 years, Inland Revenue have increased the daily Per Diem rate from $60 to $80. This means that you can now receive up to $80 per day without the requirement to have withholding tax deducted or to keep receipts for the travel costs incurred. Please note, however that many production companies include the per diems (even when they are less than or equal to the limit) in your earnings information filed with Inland Revenue. When this is the case, you will need to keep a record of your travel expenses so you can claim an offset against the per diems which must be included as income in your tax return.

Make a Will!

We have become aware that many of you don't have a will! Please aware that if you die intestate then Section 77 of the Administration Act 1969 determines who gets what. As this may not be in accordance with your wishes we suggest that you pop along to your lawyer and get them to create a will for you.

Annual Donation

In memory of a dear client who passed away suddenly in June, we are making this year's donation to the Women's Refuge, whom she supported through her work.

Finally, we hope you all have a wonderful and safe Christmas/New Year break. We look forward to being of service to everyone in 2018!

We would like to leave you with some words of wisdom, by Mary Holm, regarding happiness and money which you may wish to consider during the festive season:

· Buy experiences instead of things. Things get old, but experiences – concerts and shows, being out in the wilderness, travel, or just spending time with friends – stay shiny in your memory

· Buy many small pleasures instead of a few big ones

· Pay now and consume later. Anticipation is part of happiness. Also, you enjoy it more when you know the bill is already paid

· Spend on others instead of yourself.

Kind regards

The team at Tyler Price: (Isobel, Abbey, Anne, Bryony, Caroline, Karen, Lichelle, Tina, Virginia and Tilly).

September 2018 Newsletter

Sat, 29 Sep 2018 23:00:00 GMT

Hello and welcome to our September newsletter. We've had a busy winter with major changes happening in regards to the new AML/CFT legislation that we must comply with along with a significant upgrade to our software. We will discuss both of these later in the newsletter. In the meantime:

Important Tax Dates

For all of you GST registered clients, we will have reached the end of another GST period on the 30 ^th of September and returns are due for filing and payment on the 29th of October. Please get your information into us as soon as possible to ensure we can get your return completed on time.

For those of you who are registered for GST on a 6 monthly basis and pay provisional tax, your first 2019 provisional tax installment is also due on the 29th of October. Tax reminder notices will be going out in the first week of October, so please keep an eye on your inbox.

As always, please let us know well before the 29th if you will not be able to make your payments on time. The 29th is too late to avoid tax penalties if you want to set up a payment arrangement.

Overseas Based Student Loan Borrowers

If you are an overseas based student loan borrower, your first installment for 2019 is due on the 30 ^th of September. If you haven't received a reminder from us, please contact us urgently so we can advise how much you need to pay.

Change of email address

If you change your email address, please let us know! It is very important that we have your correct contact details on our database, as important tax reminder notices are emailed to the address that we have on file for you. If you do not notify us of any updates regarding your email address, important notifications and information may not reach you on time.

Audit Insurance

Yes, it's that time of the year again! At the end of October, audit insurance policies will be up for renewal. Letters will be going out to all clients shortly, whether or not you participated in the scheme last year so please watch out for these in your inbox. It is a requirement of our cover to offer it to all clients annually. In order to opt into the scheme, all you need to do is pay the premium and you are automatically covered from that payment date.

For those of you not familiar with the scheme, the insurance covers all of your accounting costs in relation to a review or audit of your tax affairs by Inland Revenue. The insurance starts from the moment we receive a letter from Inland Revenue stating their intention to review or audit you.

Please contact us if you are unsure whether audit insurance is appropriate for you. Inland Revenue have recently launched their "Sleep Easy" campaign of targeting hospitality businesses so those of you in this sector should seriously consider taking up this cover.

Anti-Money Laundering & Countering Financing of Terrorism Legislation

Since the last newsletter we've spent significant time on establishing and implementing policies and procedures to ensure that we are now "AML/CFT" ready. From 1 October, we will be joining banks, financial institutions and lawyers in the AML/CFT regime. By law we will be required to follow specific procedures to identify and verify new clients or existing clients who alter their circumstances (such as forming a new company or trust) and to question unusual cash or wire transactions (including income) from overseas that we encounter in our work. So please be prepared to provide us with the required information if requested. Failure by us to comply with this new legislation could result in very large fines, so we have no option but to do this. Failure by you to provide us with the required information will result in us having to make a report to the Department of Internal Affairs. It is our hope and expectation that, for the vast majority of you, there will be no impact on our working relationship, but please be prepared to help us comply if need be.

New Financial Reports

Something else that has been keeping us very busy of late is the installation of our new general ledger software. Those of you receiving Financial Statements from us over the next few months will notice a subtle change in the look of our reports. The change in look is subtle but the software behind it is a huge step up in technology from the old general ledger system that we have been using. The new software will enable us to download your data directly from your Xero or MYOB systems instead of the need to manually journal the information in. It will also enable us to send reports directly to you without the need to print and scan so will move us closer to the paperless office that we would all like to see. It's still a work in progress and will be phased in over time.

As part of this upgrade, MYOB are offering very competitive prices to clients who move their accounting onto MYOB Essentials so please let us know if this is of interest to you.

MYOB prices (which are subject to change by MYOB) are:

$10 per month for Cashbook,

$27 per month for Cashbook plus Payroll,

$32 per month for the Standard Package and

$47 per month for the Standard Package Plus Payroll.

Xero Price Increase

For those of you on the Xero Standard or Premium packages, please note that Xero have increased their prices from 1 October. Our new discounted prices will be:

$52 per month for the Standard Package (up from $48),

$59 per month for Standard Plus Payroll (up from $56) and

$66 per month for the Premium Package (up from $62).

Xero cashbooks is unaffected by this price increase.

Payday Filing

Those of you employing staff will have been bombarded by Inland Revenue regarding the requirement to start filing your PAYE returns each time you pay staff. Please note that this is only compulsory from 1 April 2019 and that, to our knowledge, none of the payroll providers (such as Ace, MYOB and Xero) have yet developed their software to enable this to be done. The providers and Inland Revenue are working closely together to ensure that your software will comply by 1 April, so don't panic yet. We will keep you informed as this this develops.

Changes to Legislation on Taxation of Rental Property Income

Many of you have voiced concerns to us regarding proposed changes to tax on rental properties. As yet, nothing has been confirmed, but our expectation is that rental losses will be ringfenced in future (probably from the 2020 tax year onwards). What this means is that, if your rental property runs at a loss, you won't be able to offset those losses against other income (and for many of you, receive a tax refund). You WILL still be able to claim a tax deduction for the expenses incurred in the derivation of your rental income, but in a year where those expenses exceed the income, the excess expense will be pushed forward to future years to be utilised when income DOES exceed expenses. So if you are currently considering significant repairs and maintenance to your rental property, you may wish to consider doing this before the ring-fencing legislation is passed.

Providing your Bank with your IRD Number

One exciting development in the wind is that banks will soon be providing your interest information directly to Inland Revenue each year, so we won't have to ask you for this when we prepare your tax return. However, in order for this to work correctly, it is essential that you provide your bank with the correct IRD number. For joint accounts, this means providing both IRD numbers. So please check with your bank to ensure that they have the right information as this will save us time (and you money) when tax return time comes around.

Staff Changes for Tyler Price

There is definitely something in the water here at Tyler Price! For the third year in a row we are about to bid a temporary farewell to another mother to be. Lichelle will be leaving us on the 4 ^th of October to have her second baby. We all wish her well!

Bryony, who is still on maternity leave, is planning to be back in the office in February and she will take over the reigns of those clients who have been looked after by Lichelle. In the meantime, the remaining staff will fill the gap. You have all been allocated to a manager who will take good care of you, so please don't be concerned about this change. If you are needing any help, please call and you will be directed to the person who will be looking after you.

And lastly, thank you so much to all of you who have recommended us to your friends and colleagues. Much appreciated!

Thank you for taking the time to read our newsletter. If you have any questions or need further information, please do not hesitate to pop in to our office or give us a call. We always look forward to hearing from you.

Regards, the team at Tyler Price:

Isobel, Abbey, Anne, Bryony, Caroline, Karen, Lichelle, Tina, Virginia and Tilly

June 2018 Newsletter

Fri, 29 Jun 2018 23:00:00 GMT

It's been a fairly quiet quarter in terms of tax changes. The most significant change in the wind is the proposal to ring fence rental losses, which we discussed in the March newsletter. No updates yet but we will keep you posted. In the meantime:

For those of you who are registered for GST 2 monthly, your GST return for the period ending 31 May is due to be filed with Inland Revenue by 28 June 2018 . If you haven't already done so, please send us your information ASAP so that we can get your return filed on time. Please call if you need any help or if you are unable to get your information to us.

On 28 August 2018 , both July GST returns and the first instalment of provisional tax for those of you not registered for GST or registered for GST on a 2 monthly basis will be due. As always, we will send reminder notices to pay this provisional tax 3 weeks before the due date. Please ensure that we have your correct email address to which to send these notices.

Those of you registered for GST 6 monthly who pay provisional tax: your first instalment isn't due until 28 October 2018 - so don't panic if you don't receive a notice in August.

Student Loans and Working for Families Tax Credits

Please note that if you take out a Student Loan or start receiving Working for Families Tax Credits, we will not be aware of this unless you tell us. IRD only gives us access to each tax type on an individual basis, upon specific request by us. So if you don't tell us, we will not request access. Knowledge of these is essential to us to ensure that we maximise your tax benefits.

This particularly applies to children receiving distributions from trusts. So please let us know if this applies to you.

Request for information from banks

New Zealand banks are warning that some customers could have their accounts frozen if they don't respond to requests for information.

As part of their regulatory obligations, banks are required to undertake due diligence on the foreign tax status of their customers.

To fulfil this duty, all banks have recently contacted customers requesting details on their status. If you've been contacted, it's important that you respond to your bank, regardless of your tax status. If you don't respond, or if your response is incomplete, your bank will be required to freeze or close accounts opened from 1 July 2017 to comply with the law.

IRD Scam Emails

There appears to have been an increase in IRD scam emails being sent to taxpayers and many are getting caught out and being infected by computer viruses . If you receive an email that appears to be from IRD asking you to click on a link, do not do this! If you believe that the email could be genuine, either contact us or log into your MyIR and check your status there.

Providing your bank account details to us

Anti Money Laundering (AML) Legislation

From the team at Tyler Price – Isobel, Abbey, Anne, Bryony, Caroline, Karen, Tina, Virginia and Tilly

March 2018 Newsletter

Fri, 30 Mar 2018 22:00:00 GMT

Hello and welcome to our first newsletter for 2018.

It looks like our long hot summer may be coming to a close. The dark cold nights that are just around the corner should give you a perfect opportunity to get your 2018 accounts in order ready to send to us so we can get your taxes sorted. We will be emailing our annual questionnaire to you shortly, so please keep an eye on your inbox for this.

Please note that this newsletter contains information regarding major tax changes which may affect you so please read it to ensure that you are informed of these changes.

Important Upcoming Tax Dates

By now, those of you who have an extension of time should have received your 2017 terminal tax notices. This tax is due on the 7th of April . Don't forget that if you are sending a cheque, it must be received by the 7th so get it in the post in plenty of time!

We'll also be emailing out the tax notices for the 2018 final provisional tax instalment shortly (payment due on the 7th of May ). Please look out for these in your inbox.

If paying either of these taxes by the due date is not possible, please don't stress! Get in touch with us as soon as you can so we can either set up a payment arrangement with Inland Revenue or buy your tax from one of our tax pool suppliers.

Additional requirements for 31st March

· Record your debtors (people who owe you money) as at 31 March 2018.

· Record your creditors (people you owe money to) as at 31 March 2018.

· Carry out a stock take, if you carry and sell stock.

School donations

It's that time of the year again when school fees and donations are being paid. Don't forget you can claim a 33% rebate on these donations (as well as donations to most charities), so please remember to include these in your receipts if paid by the 31 ^st March 2018. Note that activity fees and some levies imposed by schools are not claimable so we must have your receipt to ensure we are only claiming the donation part of the payment.

Important Tax Changes for Property Investors

Bright-line test

The government recently announced that they are extending the bright-line test from 2 years to 5 years, effective as soon as the change receives royal assent – which could be as soon as 1 April.

The change will affect all residential property (excluding the family home) purchased after the date of the change. If you have already purchased and have an unconditional agreement in place, then you will still be covered under the old 2 year rule.

Please note that you can only have one family home and that is the one in which you spend most of your time. Your family bach, any land you own on which a residence could be built and residential rental properties are caught should you buy and sell within 2 years or 5 years moving forward.

Rental losses to be ring-fenced

We are also likely to soon see draft legislation on the ring-fencing of rental losses. Should this become law, investors will no longer be able to offset tax losses from their residential investment properties against their other income to reduce their tax liability. Instead, these tax losses will carry forward to offset against future rental profits.

As this proposed law needs to go through the Tax Policy Process, it is likely to not take effect until 2019 (and may even be phased in over a period of time). However it should be considered if you are contemplating purchasing a rental property. Please call us if you have any concerns or questions as to how this change may impact on you.

Smoke Alarms and Insulation in Rental Properties

All rental properties must have working smoke alarms installed and, from 1 July 2019 must be insulated. Landlords are required to complete an Insulation Statement with all new tenancy agreements. We recommend you read the rules on the Tenancy Services website to ensure you are complying with legislation.

Water Rates

Once again for those of you who own residential rental properties: it has come to our notice that many landlords pass on the full water rates bills for their tenants to pay. However, under the Residential Tenancies Act, tenants are only required to pay for water usage, not the fixed fees. There have been a number of cases recently heard by the Tenancy Tribunal and many landlords have been forced to reimburse their tenants for the Wastewater Fixed Charges that they have passed on to their tenants. So if you are doing this, we suggest you talk to your tenants and come to an agreement before it turns nasty.

Time to consider your software options

The start of a new tax year is the perfect time to switch accounting systems if this is on your agenda. For those of you considering moving onto BankLink, Xero or MYOB Live please get in touch with us as soon as you can to get this in place before 1 April.

Bank Accounts for Companies

We have noted a few cases where clients are operating through their company but the company doesn't have a bank account! Please note that your company is a separate legal entity from yourself and must be treated as such. If all income and expenses pass through personal bank accounts you will have no opportunity to utilize company tax rates and, should the legality of your company be questioned, you may struggle to prove limited liability. If this applies to you, please open a bank account in the company's name and start treating the company as a separate entity from yourself.

Minimum Wage Increase

The minimum wage is increasing to $16.50 per hour from 1 April 2017. Those of you employing staff on the minimum wage will need to factor this increase into your 2019 budgets.

Anti-Money Laundering Legislation

As previously advised, we will be caught by this new legislation from 1 October 2018. We are currently in the process of enhancing our systems and documentation to ensure that we will comply. We will be monitored by the Department of Internal Affairs and the fines for non-compliance are huge. However, this additional compliance will come at a cost which unfortunately we can not completely absorb. We have therefore made the difficult decision to increase our Tax Management Fees from the $50 we have charged since 2011 to $80 per tax return.

Baby News!

We are pleased to report that Bryony's baby arrived at the beginning of January – a little girl called Tessa. All is well and we look forward to welcoming Bryony back at the end of the year.

And finally,

We are very pleased to advise that Anne Blaiklock will be joining our team on the 4 ^th of April. Anne is a very experience chartered accountant who has run her own small accounting practice for a number of years. Anne will be working with us full time so this will be an opportunity for us to rebalance the workload among our accountants which we need to do from time to time. So please don't be alarmed if your next contact from us is from a different accountant – regardless of who is looking after you, you can be confident that you will continue to receive the same excellent service as always.

From the team at Tyler Price – Isobel, Abbey, Bryony, Caroline, Karen, Lichelle, Tina and Virginia.

December 2017 Newsletter

Sat, 30 Dec 2017 22:00:00 GMT

Hello and welcome to our final newsletter for 2017. The year has flashed by at an alarming rate as we have settled in to our new premises. As always, we'd like to take this opportunity to thank you for your continued support and we look forward to seeing you again in 2018.

In this issue we look at:

· Christmas office closure and re-opening dates

· Important upcoming tax dates

· Xero Promotion

· Staff changes

· Payments to Inland Revenue

· Anti-Money Laundering Legislation

Christmas Office Closure

The office will be closing for the Christmas break on Wednesday the 20 ^th December and will be re-opening on Monday the 15th January. The office@tylerprice.co.nz email will be periodically monitored throughout the closedown period, so if you do need our assistance during this time, please email this address and someone will get back to you as soon as possible.

Important Tax Dates

Provisional tax payment notices have been sent out to those of you required to make a payment on the 15 ^th of January 2018 . PLEASE DO NOT FORGET TO PAY THIS TAX! If you have any questions regarding this please contact us before the office closes for the Christmas break so we can assist you if need be.

For those of you who file GST two monthly, your November GST will also be due for payment on the 15th of January 2018 . If you are heading away for Christmas, it would be best to get your information to us well before you leave.

And after that:

7 February 2018 Terminal tax due for taxpayers who do not have extension of time (non-complying taxpayers)

7 April 2018 Terminal tax due for taxpayers who do have extension of time.

Xero Promotion

For those of you considering moving to Xero: they are currently offering a 50% discount for the next 4 months, so now could be a really good time to make the move. Please let us know if you are interested in taking up this offer.

Staff Changes

Those of you who are looked after by Bryony will have noticed her expanding stomach over the past few months! Bryony headed off on maternity leave on the 1 ^st of December and is now patiently awaiting the birth of her third child, due on New Year's Eve. We look forward to welcoming her back later next year.

In November Lichelle Schofield joined the team and she will be looking after the majority of Bryony's clients. Many of you will have already been in contact with Lichelle. Lichelle comes to us with a broad range of skills and experience and we are delighted to have her on board.

Payments to Inland Revenue

Anti-Money Laundering (AML) Legislation

Those of you who have tried to invest money or open bank accounts in the past couple of years will no doubt have been put through the wringer by the banks – all in the name of AML legislation. The bad news is that, from 1 October next year, accountants will also be required to carry out additional checks on clients to satisfy ourselves that none of you are laundering money, drug trafficking or doing cash jobs. The legislation is still being finalised: however, our understanding at this stage is that we will be required to incorporate AML checks into our work and, should we become suspicious that a client is carrying out illegal activities, we will be required to report this to the relevant authority. We will be under the scrutiny of the Department of Internal Affairs and failure to perform the relevant checks will result in huge fines – so we must comply. Over the next few months we will be updating our procedures to incorporate these checks, including an addendum to our terms of trade and a questionnaire that you will all need to complete. We apologise in advance for the inconvenience that this will cause, but unfortunately, we have no choice in this matter.

Needless to say, that if any of you are laundering money, drug trafficking or doing cash jobs, this may be a good time to consider ceasing these activities!

Annual Donation

Many of you will remember Karla, who was our receptionist in 2012/2013. Karla was an amazing person with a heart of gold. She had no kidneys and every second night went home to spend her evening on her dialysis machine. She couldn't drive and could only go on holiday if she could make arrangements with a nearby hospital to receive dialysis treatment while she was away. Karla left our team when her husband's workplace moved out west, meaning she had no mode of transport to get to work.

It was with much sadness that we learnt of Karla's death in August this year, aged 35. Karla always knew that her life would be short: however, we are still finding it difficult to comprehend that someone so young and full of life can now be gone.

In memory of Karla we are splitting this year's annual donation and giving half to the Kidney Foundation and the other half to Radio Lollipop, which was a charity close to Karla's heart and one in which she invested a large portion of her limited spare time.

Finally, we hope you all have a wonderful and safe Christmas/New Year break. We look forward to being of service to everyone in 2018!

Kind regards

The team at Tyler Price: (Isobel, Bryony, Caroline, Karen, Lichelle, Tina, Abbey, Virginia and Tilly).

September 2017 Newsletter

Fri, 29 Sep 2017 23:00:00 GMT

Hello and welcome to our September newsletter. The weather has been wet and windy outside but we've been cosy and dry here in our new premises.

With the election imminent there's been no major tax changes to report on. We guess we'll just have to watch this space as to what will happen in the future!

Important Tax Dates

For all of you GST registered clients, we will have reached the end of another GST period on the 30 ^th of September and returns are due for filing and payment on the 28th of October. Please get your information into us as soon as possible to ensure we can get your return completed on time.

For those of you who are registered for GST on a 6 monthly basis and pay provisional tax, your first 2018 provisional tax instalment is also due on the 28th of October. Tax reminder notices will be going out in the first week of October, so please keep an eye on your inbox.

As always, please let us know well before the 28th if you will not be able to make your payments on time. The 28th is too late to avoid tax penalties if you want to set up a payment arrangement.

Overseas Based Student Loan Borrowers

If you are an overseas based student loan borrower, your first instalment for 2018 is due on the 30 ^th of September. If you haven't received a reminder from us, please contact us urgently so we can advise how much you need to pay.

Change of email address

If you change your email address, please let us know about this. It is very important that we have your correct contact details on our database, as important tax reminder notices are emailed to the address that we have on file for you. If you do not notify us of any updates regarding your email address, important notifications and information may not reach you on time.

Audit Insurance

Yes, it's that time of the year again! At the end of October, audit insurance policies will be up for renewal. Letters will be going out to all clients shortly, whether or not you participated in the scheme last year so please watch out for these in your inbox. It is a requirement of our cover to offer it to all clients annually. In order to opt into the scheme, all you need to do is pay the premium and you are automatically covered from that payment date.

We'd like to remind business owners that Inland Revenue audits are on the increase – particularly in the areas of property development and speculation, trades and hospitality. So for those of you with interests in these areas, we do encourage you to consider this insurance, particularly in light of...

Work Related Vehicles

Those of you driving vehicles owned by your company, you will be aware that you make an annual shareholder contribution for the use of that vehicle. This shareholder contribution means that Fringe Benefit Tax (FBT) isn't required to be paid on the vehicle. Where your vehicle is deemed to be a Work Related Vehicle this contribution is not necessary. In order to be a Work Related Vehicle it must be a truck, ute or station wagon with the back seats permanently bolted down and it must be sign written. The signwriting must be permanent and prominent. The vehicle must NEVER be used for personal use.

We have been informed that Inland Revenue are currently carrying out checks on sign written vehicles to ensure that they are not being used privately. They are staking out places such as boat ramps, supermarkets and school gates. Work Related Vehicles sighted are being noted and investigated and penalties are being charged where FBT is not being accounted for.

If you have a Work Related Vehicle which you are using privately, please let us know so we can make the appropriate shareholder contribution so you do not fall foul of the investigations team

Cash Jobs

We have also been informed that tradies are being lured to private addresses to carry out jobs for which they are given cash. Inland Revenue are then turning up at their work premises a few days later to ensure that the cash has been correctly accounted for. Once again, big penalties for non-compliance. Our simple answer to that is don't do cash jobs. If people pay you in cash, bank it into your business account immediately and pay the appropriate GST and tax.

Overseas Withholding Tax

We are aware that many of you have been taking up opportunities to work on various productions overseas. Please note that many countries deduct withholding tax paid to contractors. If this is the case we recommend that you contract as individuals - not through your companies. Although companies can claim a New Zealand tax credit for tax paid overseas, this tax credit does not flow through to the shareholder when a dividend is declared. So you will ultimately be double taxed if you trade through your company. If this situation applies to you, please talk to us.

Companies Office Obligations

In addition to filing documents with the Companies Office, it is a legal requirement for every company to keep and maintain certain records. This includes accounting records, the share register and other company documents. These are all listed on the Companies Office website. Please ensure that you are adhering to this requirement as non-compliance can result in a $10,000 fine to the director.

And lastly, thank you so much to all of you who have recommended us to your friends and colleagues. Much appreciated!

Regards, the team at Tyler Price:

Isobel, Abbey, Bryony, Caroline, Karen, Tina, Virginia and Tilly

June 2017 Newsletter

Thu, 29 Jun 2017 23:00:00 GMT

Hello and welcome to our June newsletter. It's hard to believe that the year is already half over! We've turned up the heating in our new office and, as always, look forward to seeing any clients who wish to pop in and see us with your information or regarding any queries you may have.

In this newsletter, we will be focusing new tax changes that you need to be aware of.

Our New Office

Many of you have been to visit us in our lovely new office and we've been pleased with your positive comments. Please note that parking is in the driveway and it is wide enough for 2 cars if the first car to arrive parks on one side of the driveway. We generally try to allow enough time between appointments so that only one car needs to be parked at a time: however, there are times when other clients arrive and need to park, so it would be really great if people can try to leave enough space for another car if they can.

Karen is Back!

We were very pleased to welcome Karen back from maternity leave in April – just in time for our busy GST period. Karen has settled back into the swing of things – but is only working mornings at the moment. So, if you need to contact her urgently, please do this before 1pm.

Upcoming tax payments

For those of you who are registered for GST 2 monthly, your GST return for the period ending 31 May is due to be filed with Inland Revenue by 28 June 2017 . If you haven't already done so, please send us your information ASAP so that we can get your return filed on time. Please call if you need any help or if you are unable to get your information to us.

On 28 August 2017 , both July GST returns and the first instalment of provisional tax for those of you not registered for GST or registered for GST on a 2 monthly basis will be due. As always, we will send reminder notices to pay this provisional tax 3 weeks before the due date. Please ensure that we have your correct email address to which to send these notices .

Those of you registered for GST 6 monthly who pay provisional tax: your first instalment isn't due until 28 October 2017 - so don't panic if you don't receive a notice in August.

Bookabach/AirBNB - are you GST registered?

Renting rooms or houses through Bookabach or AirBNB is becoming increasingly popular.

However please note that this income is deemed to be commercial rent, subject to GST if either of these situations apply:

Should this income be deemed to be subject to GST, you will not only be required to pay GST on the rent you receive, but you may be required to pay GST on the market value of the property when you either sell it or cease renting it: effectively giving IRD 15% of your non-taxable capital gain.

If you are contemplating, or have already started renting rooms or houses on a short-term basis PLEASE GET IN TOUCH WITH US URGENTLY so we can advise you as to the best structure to avoid being caught in the GST net.

New Tax Charges

We are pleased to advise that IRD have finally removed the requirement for us all to have crystal balls when it comes to predicting our income for the year. From the 1st of April 2017, the following changes to the provisional tax regime have been put into place:

March 2017 Newsletter

Thu, 30 Mar 2017 22:00:00 GMT

Hello and welcome to our first newsletter for 2017 – coming from our new premises at 41B Sussex Street! It's been a busy couple of months with both moving and upgrading all our computer equipment but we're now settled and looking forward to the new financial year.

December 2016 Newsletter

Thu, 08 Dec 2016 22:00:00 GMT

Hello and welcome to our final newsletter for 2016. Christmas is right around the corner and once again we'd like to take this opportunity to thank you for your continued support. We're certainly looking forward to working with you in 2017.

Once again, we'd like to say a special 'thank you' to all of our awesome clients who got their October GST information to us in plenty of time for filing. It was a great help to us, as October is always an extremely busy time for us and the earlier we receive your information, the easier it is for us.

In this issue we look at:

Christmas Office Closure

The office will be closing for the Christmas break on Thursday 22 ^nd December 2016 and will be re-opening on Monday 9 ^th January 2017 with a skeleton staff available until the 16 ^th of January, when everyone is back on deck. If you need to contact us during that first week of January, please email office@tylerprice.co.nz and we will endeavour to respond as quickly as we can.

Important Tax Dates

Provisional tax payment notices have been sent out to those of you required to make a payment on the 15 ^th of January 2017 . PLEASE DO NOT FORGET TO PAY THIS TAX! If you have any questions regarding this please contact us before the office closes for the Christmas break so we can assist you if need be.

For those of you who pay GST two monthly, your November GST will also be due for payment on the 15th of January 2017 . If you are heading away for Christmas, it would be best to get your information to us well before you leave.

And after that:

7 February 2017 Terminal tax due for taxpayers who do not have extension of time (non-complying taxpayers)

7 April 2017     Terminal tax due for taxpayers who do have extension of time.

GST Refunds from IRD

Inland Revenue have been sending out letters to people advising that they were over-charged for penalties and interest on GST returns filed between 2001 and 2011. Over-charged amounts are being transferred to January 2017 GST and then refunded to the tax payers. IRD are now in the process of sending out refund cheques to anybody who may fall into this category. If we receive cheques at our office for any of our clients, we will be sure to let you know or forward these directly to you.

Companies Office Obligations

We realise we have mentioned this in our last newsletter, but this matter has now become urgent. In addition to filing documents with the Companies Office, it is a legal requirement for every company to keep and maintain certain records. The Companies Act 1993 requires a company to have a registered office in New Zealand.   The registered office address is where company records are kept and where certain records may be viewed by shareholders or by the public. Therefore the registered office address must be a physical address.

The company and accounting records required to be kept under sections 189 and 194 of the Companies Act 1993 should include, but are not limited to, the following information and documents.

(a) The share register;
(b) Minutes of all meetings and resolutions of shareholders;
(c) Minutes of all meetings and resolutions of directors and directors' committees;
(d) Copies of all written communications to shareholders;
(e) Copies of financial statements required by the Act or any other enactment;
(f) Accounting records which correctly record the company's transactions and, if
required, enable the company to ensure:
(i) its financial statements comply with generally accepted accounting practice;
(ii) that the financial statements can be readily and properly audited.

The records must be kept either in written form or in a manner that allows them to be easily accessible and convertible into written form.

Last week, one of our clients was visited at their office site by two representatives from the Companies Office. This was an impromptu visit where the client had no prior notification that this was going to happen. It was determined at the site visit that the company was not holding the required books and records at the premises, and consequently did not comply with section 189 of the Act. If a company does not comply within a 10 day time frame, a penalty is charged. This can be an amount up to $10,000!

It is MOST IMPORTANT that those of you with companies comply with these requirements to avoid any penalty.

We are aware that a number of our clients have the Tyler Price Accountants' street address showing as their registered office address on the Companies Office website. If the Tyler Price address is shown as being the registered office, we are then legally required to have the records mentioned above kept at our office.   We are currently writing to these clients to enquire if they would like to keep the Tyler Price address as their registered office address. If clients confirm they would like this to be the case, we will undertake this responsibility; however there will be an annual charge of $100 plus GST for maintaining this service as we must ensure that we keep all documents up to date in our files.

And now for some REALLY BIG news.......

Tyler Price is on the move!

Yes, we will be on the move in 2017! New permanent premises have been purchased just around the corner from our current office, so it's just a hop, skip and a jump away from where we are now! Our new address will be 41 Sussex Street, Grey Lynn (yes, we were very clever in keeping the street number the same so that you don't forget it). Our official move-in date hasn't been finalised yet, so until then we will still be at our current location of 41b Crummer Road. We will be sending out a notification once the date has been finalised and we look forward to you popping in to see us in our new premises once the move has taken place.

If you, or anyone you know may be interested in leasing our fabulous office at 41b Crummer Road, please let us know and we can put you or them in touch with our lovely landlord.

Baby News!

Yes, our baby has finally arrived! Little Emily was born on the 16 ^th of October, weighing 3.55 kilograms. All well with Mum and baby and we look forward to welcoming Karen back on a part time basis in April.

Annual Donation

As always, in lieu of Christmas cards/gifts we like to give a donation to a worthwhile cause at this time of the year. This year we will be giving to the SPCA.

Finally, we hope you all have a wonderful and safe Christmas/New Year break. We look forward to being of service to everyone in 2017!

Kind regards

The team at Tyler Price: (Isobel, Caroline, Samantha, Bryony, Karen, Linda, Abbey and Virginia)

September 2016 Newsletter

Sun, 25 Sep 2016 23:00:00 GMT

Hello and welcome to our September newsletter. It has certainly been a busy 3 months since our last one, including a staff member who is rapidly growing in size (and it's not due to the consumption of too much junk food), as well as a rather unfortunate and soggy disaster: but more about this further down.

Staff Changes

For those of you who don't already know, Karen is expecting a baby in October and will be leaving at the end of this month to start her maternity leave. Bryony, who started with us in July, will be taking over work for Karen's clients and will still be offering the great level of service that Karen has always maintained. Karen will be returning to work on a part-time basis in April next year. We certainly wish her all the very best as she welcomes this new addition to her family.

We are also delighted to advise that we are adding a bookkeeper to our staff. Sue Burns, whom we have known for some time in her bookkeeping capacity, will be starting with us at the beginning of October, primarily to assist the accountants through our busy October GST period. However as many of you have indicated that you would be interested in moving your bookkeeping function to Tyler Price to streamline your accounts preparation, we will also be trialling Sue in this role over the coming months. So if you would like to discuss the opportunity of utilising this service, please let us know.

Important Tax Dates

For all of you GST registered clients, we will have reached the end of another GST period on the 30th of September and returns are due for filing and payment on the 28th of October. Please get your information into us as soon as possible to ensure we can get your return completed on time.

For those of you who are registered for GST on a 6 monthly basis and pay provisional tax, your first 2017 provisional tax instalment is also due on the 28th of October. Tax reminder notices will be going out in the first week of October, so please keep an eye on your inbox.

As always, please let us know well before the 28th if you will not be able to make your payments on time. The 28th is too late to avoid tax penalties if you want to set up a payment arrangement.

Old Bank Account Is Closing

We switched our banking from ASB to Westpac two years ago. However, as a number of you have continued to pay our fees into the old ASB account we have kept it open for your convenience. However as we are paying high fees for the convenience of just a handful of you, we have made the decision to close this account for good. If you have our bank account details saved in your payees or pay us monthly by automatic payment please take the time to check the bank account details to ensure the payments are going to our Westpac account. The Westpac bank account number is shown on all invoices that you will receive.

New Terms of Engagement

By now you should have received our updated Terms of Engagement in your inbox. For your information, our terms of trade have not significantly changed; the reason for this document being updated is simply because our governing body has changed from being NZICA (NZ Institute of Chartered Accountants) to CAANZ (Chartered Accountancy Australia and New Zealand). We were also not satisfied with the way the previous terms were set out and we feel this new document sets out things in a more logical and easy-to-understand way for clients. All that is required for you to do is to please read the terms, review the entities listed and, if you happy with them, to sign the last page in the space provided and return this to us, either by hand, email or post.

Thank you to all our clients who have already signed these and sent them back to us. If you haven't already done so, you will be receiving a reminder notice very shortly. Which brings us to our next very important point….

Change of Email Address

Yes, it's that time of the year again! At the end of October, audit insurance policies will be up for renewal. Letters will be going out to all clients shortly, whether or not you participated in the scheme last year. In previous years, these letters were posted, however moving forward they will be emailed to clients, so please watch out for these in your inbox. It is a requirement of our cover to offer it to all clients annually. In order to opt into the scheme, all you need to do is pay the premium and you are automatically covered from that payment date.

For those of you not familiar with the scheme, the insurance covers all of your accounting costs in relation to a review or audit of your tax affairs by Inland Revenue. The insurance starts from the moment we receive a letter from Inland Revenue stating their intention to review or audit you.

We'd like to remind business owners that Inland Revenue audits are on the increase – particularly in the areas of property development and speculation, trades and hospitality. So for those of you with interests in these areas, we do encourage you to consider this insurance.

Insurance Policies

As many of you are aware, the Tyler Price office was hit by a flash flood in June. Thankfully, the main damage only extended to the carpet, but this still posed a significant problem to the smooth running of the business, and as such the office was closed for 4 days while the massive clean-up was undertaken. It is for this reason that we are urging all of our clients to please review your insurance cover and to make sure that policy triggers are understood fully, and that you are aware who (landlord, tenant and body corporate) is responsible for insuring the various parts of the property. If ever there was a document you need to read very carefully, it's your insurance policy!

We would also like to make mention of business interruption insurance which is a type of insurance that covers the loss of income that a business suffers after a disaster. The income loss covered may be due to disaster-related closing of the business or due to the rebuilding process. Interruption insurance compensates you for lost income if your business has to close temporarily, or vacate the premises due to disaster-related damage that is covered under your property insurance policy, such as a fire or flood. This type of insurance covers the revenue you would have earned, based on your financial records, had the disaster not occurred.

Companies Office Obligations

In addition to filing documents with the Companies Office, it is a legal requirement for every company to keep and maintain certain records. This includes accounting records, the share register and other company documents. Below is a link that describes exactly which company and financial records are required to be kept at a company's registered office address. For those of our clients who own companies, please take the time to read the information in this link:

https://www.business.govt.nz/companies/learn-about/compliance-requirements/records-checklist.pdf

We are aware that a number of our clients have the Tyler Price Accountants' street address showing as their registered office address on the Companies Office website. If the Tyler Price address is shown as being the registered office, we are then legally required to have the records listed in the link above kept at our office. We will shortly be writing to these clients to enquire if they would like to keep the Tyler Price address as their registered office address. If clients confirm they would like this to be the case, we will undertake this responsibility; however there will be an annual charge for maintaining this service as we must ensure that we keep all documents up to date in our files. We will inform clients of these charges when they are contacted in the very near future.

And lastly, thank you so much to all of you who have recommended us to your friends and colleagues. Much appreciated!

Thank you for taking the time to read our newsletter. If you have any questions or need further information, please do not hesitate to pop in to our office or give us a call. We always look forward to hearing from you.

Regards, the team at Tyler Price:
Isobel, Bryony, Caroline, Karen, Linda and Sam

June 2016 Newsletter

Tue, 21 Jun 2016 23:00:00 GMT

Hello and welcome to our June newsletter. It's hard to believe that half the year has already gone! We've turned up the heating in the office and, as always, look forward to seeing any clients who wish to pop in and see us with your information or queries you may have.

In this newsletter we will be focusing on two big changes happening here at Tyler Price: our staff and our Portal.

New Staff

A very big thank you to all of you who have been recommending us to your family and friends. In April/May we experienced an unprecedented surge in new clients joining us. As a result, we have two new accountants joining our team:

Sarah O'Connell, a chartered accountant with over 7 years of business advisory services experience has already started with us. Sarah will be working 3 days per week.

Bryony Matthews, also a chartered accountant with 7 years' experience, will be starting with us at the end of July, initially working 2 days per week but extending her hours later in the year.

We will be taking this opportunity to re-balance the workloads among all of our accountants. As your businesses grow or shrink, so does the work that we do for you – and from time to time we need to move some of you from your existing accountant to another accountant that has more capacity to look after you. Please don't be concerned if you find yourself dealing with somebody new moving forward, as all of our lovely accountants are qualified and experienced and you will continue to receive the wonderful service that you have come to expect.

MYOB Portal

By now most of you will have received invitations to join our MYOB Portal. Please take the time to not only accept the invitation, but to watch the brief video which explains what it is all about.

The MYOB Portal allows us to send a document to a client for digital signature, which is now legally binding. This eliminates the time needed to shuttle physical documents between us.

Another great benefit is that you can access the Portal (and therefore documents and tasks) wherever you happen to be, by using a smartphone or tablet. This will save you time and money as you won't have to contact us to send you the relevant information. It is also completely secure, which sadly, emails are increasingly not!

As each Portal must be set up individually, this exercise is taking a considerable amount of time. So if you haven't received your invitation yet and your client code is towards the end of the alphabet, we haven't got to you yet! Just keep an eye open for our invitation over the next couple of weeks. If you have already received the invitation and have ignored it, please retrieve it and action it accordingly.

Once you have accepted the invitation, the Portal will provide a secure entry point for you to view, download and upload your financial information without the need to email files. Information can only be viewed by logging in with the password set up when the invitation is accepted. For those of you who would like access to be given to other contributors, such as your PA's or bookkeepers, please be aware that those people will be able to view all documents in the Portal. In these cases, we can set you up with an additional Portal with restricted access. Please let us know if this is of interest to you.

Note that we will only be storing documents in the Portal moving forward – unless you specifically request us to up-load certain documents for your retrieval. So initially there won't be anything in the Portal for you to view – but as we complete work for you, documents will be stored there.

Upcoming Tax Payments

For those of you who are registered for GST 2 monthly, your GST return for the period ending 31 May is due to be filed with Inland Revenue by 28 June 2016 . If you haven't already done so, please send us your information ASAP so that we can get your return filed on time. Please call if you need any help or if you are unable to get your information to us.

On 28 August 2016 , both July GST returns and the first instalment of provisional tax for those of you not registered for GST or registered for GST on a 2 monthly basis will be due. As always, we will send reminder notices to pay this provisional tax 3 weeks before the due date. Please ensure that we have your correct email address to which to send these notices.

Those of you registered for GST 6 monthly who pay provisional tax: your first instalment isn't due until 28 October 2016 - so don't panic if you don't receive a notice in August.

Renting out your house or spare room?

We've noticed that many of you are now renting houses and rooms out through Bookabach and AirBNB. Please be aware that this income may be taxable to you. If this is the case, then you will be able to claim certain expenses against this income. Please give us a call if you have started, or are contemplating this, so we can advise you as to your potential tax liabilities and the records you will need to keep.

Thank you for taking the time to read our newsletter. Please don't hesitate to contact us if you have any questions regarding the topics in this issue.

March 2016 Newsletter

Mon, 21 Mar 2016 22:00:00 GMT

Hello and welcome to our first newsletter for 2016. It's suddenly starting to feel like autumn with a slight chill in the air in the mornings.

December 2015 Newsletter

Tue, 08 Dec 2015 22:00:00 GMT

Hello and welcome to our final newsletter for 2015. As Christmas looms, we'd like to take this opportunity to thank you for your continued support and we certainly look forward to working with you in 2016. We know it has been a busy year for many of our clients and we're sure you're all looking forward to a well-deserved break. We'd like to take this opportunity to thank those of you who have referred our services to friends and acquaintances, and to let you know that we certainly do appreciate this.

We'd also like to say a special "thank you" to all of our awesome clients who got their October GST information to us in plenty of time for filing. It was a great help to us, as October is always an extremely busy time for us!

In this issue we look at:

Christmas Office Closure

The office will be closing for the Christmas break on Friday 18th December; however there will be a skeleton staff available if you need to get hold of us urgently in the week leading up to Christmas. If this is the case, please email office@tylerprice.co.nz and we will endeavour to respond as quickly as we can.

The office will be re-opening on Tuesday 5 ^th January 2016, again with a skeleton staff available until the 11 ^th of January, when everyone is back on deck. Once again, if you need to contact us during that first week of January, please email the office address above.

Important Tax Dates

Provisional tax payment notices have been sent out to those of you required to make a payment on the 15 ^th of January 2016. PLEASE DO NOT FORGET THEM! If you have any questions regarding these, please contact us before the office closes so we can assist you.

For those of you who pay GST two monthly, this will also be due for payment on the 15th of January. If you are heading away for Christmas, best to get your information to us well before you leave, so you'll know how much spending money you have available for your holiday!

And after that:

7 February 2016 Terminal tax due for taxpayers who do not have extension of time (non- complying taxpayers)

7 April 2016 Terminal tax due for taxpayers who do have extension of time.

Paying KiwiSaver if you're self employed

KiwiSaver is very flexible if you're self-employed and you can still enjoy all of the benefits except the employer contributions. If you are self-employed, you're not required to contribute a set percentage of your pay. Instead you can agree your contribution level with your KiwiSaver provider. Some providers may have minimum contribution requirements. You can either make lump sum payments when you choose, or set up regular payments.

Per Diems

Many of the film production companies are including per diems in the summary of earnings sent to Inland Revenue. This means that they will be subject to tax. So if you are receiving per diems, keep a record of the corresponding travel expenses so we can claim them against the income.

Buying and Selling of Properties

As you will all be aware, there's been a number of changes in relation to the buying and selling of property. Most of the publicity has been centred on the capital gains tax that you will have to pay if you sell a property within 2 years of purchase. A few other things to note:

Have you got a will?

We are often staggered to discover that many of you have not made provisions for the unlikely event of your demise. With many of us heading off on holiday breaks, it's probably a good time to make or update our wills to ensure that our wishes are followed when we are no longer around. This is particularly important for those of you running businesses who need a succession plan.

Annual Donation

At Tyler Price, we are always keen to support our clients where we can! In February 2016 one of our clients will be driving a tractor from New Plymouth to Auckland to raise funds for Hospice New Zealand. Such effort must be rewarded, so this year, in lieu of Christmas cards, we'll be making our donation to Hospice via the Tractor Trek appeal. Here's the link if you would also like to support this very worthy cause: www.tractortrek.org.nz

Finally, all of the team at Tyler Price would like to wish everyone a very safe and happy Christmas, and we look forward to assisting you in the New Year.

September 2015 Newsletter

Sun, 27 Sep 2015 23:00:00 GMT

June 2015 Newsletter

Sun, 28 Jun 2015 23:00:00 GMT

It's hard to believe that we are already halfway through 2015! Everything is ticking along smoothly here at Tyler Price and we are keeping the office nice and warm for when you pop in to see us with your information or queries.

A big thank you to clients who have recommended our services to friends and colleagues, we appreciate your support. You can also direct people to our website for information on our services and to keep regularly updated.

Tyler Price Questionnaire available online

Just a reminder you can now access the Tyler Price client questionnaire on our website. We need this to be signed and sent to us as authority for us to complete your work. All you need to do is download, sign and scan the form from this link:http://www.tylerprice.co.nz/our_services/questionnaire,

Upcoming tax payments

By now you should have filed and paid your May GST if you are registered on a monthly or 2 monthly basis. If you are having any problems with this, please let us know if we can assist.

The July GST will be due on the 28thof August, along with the first provisional tax instalment for all provisional tax payers who are either not registered for GST, or are registered monthly or 2 monthly.

We'll be sending tax notices out in early August, so watch for those popping into your inboxes.

If you have no tax to pay, you won't get an email from us which brings us to our next important point…

Have you changed your email?

In order to save some trees, we are sending most of our correspondence to clients via email. If your email or any other contact details change, please let us know. We don't want you to miss any important reminders!

Claiming Expenses

We've recently taken on some new clients who have been filing tax returns through the on-line tax agents or "the man in the mall". Please note that these agent's services are aimed at salaried tax payers who overpay their PAYE. As such, they do not claim expenses in their client's tax returns.

Unfortunately they do not appear to be communicating the limitation of their services and are filing for contractors who pay withholding tax and receiving considerably smaller refunds than if expenses were claimed. We have been busy re-filing previous year's tax returns on behalf of these people and claiming the expenses – but IRD imposed times bars are preventing us from going back more than 4 years. If you have contractor friends or colleagues using the services of these agents, please make them aware that they are potentially missing out on refunds.

For information on the types of expenses you can claim visit our websitehttp://www.tylerprice.co.nz/resources/claiming_expensesor give us a call on 09 360 8425.

GST – Inland Revenue on the prowl

We have noticed that Inland Revenue are now focussing on taxpayers who are just starting to exceed the GST threshold of $60,000 p.a. Whereas, in the past we were able to pick it up in the course of our work and simply register moving forward, we are now finding that Inland Revenue are forcing taxpayers to go back and retrospectively register. The risk here is the potential lost income if you can't go back and claim the GST from your customer, and the late payment penalties imposed on that GST.

If you aren't registered for GST but suspect that you should be, please give us a call to discuss.

Please note the rules:

You must register for GST if you carry out a taxable activity and if your turnover:

was over $60,000 for the last 12 months, or

is expected to go over $60,000 for the next 12 months

(This equates to $5,000 per month. If your turnover is $5,000 per month and you expect to maintain that level all year, you'll need to register for GST.), or

was less than $60,000, but you include GST in your prices, for example taxi drivers who have included 15% in their taxi fares.

And other areas of focus

You will have heard in the media that the government is putting more funding into Inland Revenue to identify and tax property traders and speculators. With no end in sight to the escalating Auckland market, they believe that there are considerable numbers of people buying properties solely with the purpose of flicking them at a profit, and as such, want their slice of the pie.

Please be aware that Inland Revenue know when properties are bought and sold. They have sub-dividable properties tagged and they know which taxpayers have a history of buying and selling properties in short periods of time. If you are considering getting into property trading, please be aware that the profits will be taxable, so talk to us first.

However, for those of you that have recently bought rental properties and are concerned about being taxed if you sell within 2 years, please note that this only applies to rental properties purchased after 1 October 2015.

The other big area of focus at the moment is the "hidden economy" – cash jobs. Our recommendation is simple – don't do it!

Random Health and Safety Checks – are you prepared?

With the new Workplace Health and Safety Reform bill approaching, business owners (regardless of how small) and company directors need to get their work place safety procedures and processes documented and complied with, to reduce the risk of severe penalties. We have heard of businesses being targeted randomly to see if they comply with the new requirements and regulations.

Tyler Price Accountants now have an ACC approved Health and Safety Manual, and we are able to assist you in meeting these requirements. If you would like to discuss, please call our office.

Companies Office Requirements

From 1 July the Companies Office will require additional information when you register a company or file an annual return. Each director will need to provide their place and date of birth – so don't be offended when we request this information from you.

Thank you for taking the time to read our newsletter. If you have any questions or need further information please do not hesitate to pop in to our Grey Lynn office or give us a call. We look forward to hearing from you.

March 2015 Newsletter

Mon, 13 Apr 2015 14:00:00 GMT

Easter eggs are on the shelves and the air is feeling a little chillier, although it seems like only yesterday that we were basking in the sun on Christmas break. It's all go here at Tyler Price with the end of the financial year just around the corner. As always we are here to help and are keen for your feedback on how we can improve our service to you. We have a few bits of useful updates below, which can also be found on our website http://www.tylerprice.co.nz/resources/blog . Also a wee reminder to check out our Client Profiles page and get in touch with us if you want you or your Company's profile included on our website.

Year End Reminders
By now you will have received your 2014 terminal tax notices. This tax is due on the 7th of April . Don't forget that if you are sending a cheque, it must be received by the 7th so get it in the post now! You can no longer make payments at Westpac.

We'll be emailing out the tax notices for the 2015 final provisional tax instalment in mid April (payment due on the 7 ^th of May).

If paying either of these taxes by the due date is not possible please get in touch with us as soon as you can so we can set up a payment arrangement for you. Provided this is in place before the due date, you will only incur a 1% penalty plus interest. Delaying the process will result in big, unnecessary penalties!

For those of you who are GST registered, GST returns for period end 31 ^st of March are also due on the 7th of May . Be aware that this is our busiest time of the year so please get your information to us as soon as you can to ensure we can meet the deadline.

Additional requirements for 31 ^st of March:

Find it hard to pay GST on time?
Although we are all aware that the GST we receive on our income is not ours to keep, many of us still find it very difficult to find the cash when the dreaded GST due date comes around. We are often asked by desperate clients if they can hand over the GST to Inland Revenue as they receive it. The answer is yes! Inland Revenue is always happy to receive money: you don't have to wait until the due date. By paying as you go, you will probably end up with a refund, which will be yours to keep!

MYOB Essentials
We've noticed that many of you are moving to MYOB Essentials as it represents better value than its competitors. Please note that if you are signing up for the software you will receive a 10% discount on the monthly charge if you let them know that you are a Tyler Price client.

Interactive Questionnaire on Website
Historically we have sent you a client questionnaire for you to complete before we begin work on your accounts. This year, we have moved with the times and have uploaded an interactive version on our website http://www.tylerprice.co.nz/our_services/questionnaire .Just download and save to your desktop, then fill in the form and send it back to us with your records.

Working For Families Tax Credits
We often learn of important changes in your personal lives (such as the birth of a child) some time after the event. Please note that sometimes these changes will impact on your entitlements (for example, working for families tax credits). So please ensure that you let us know when your circumstances change – even if you don't think it will impact your tax – to ensure we are giving you the best advice.

FYI, you may be entitled to working for families tax credits if your family income is below the following thresholds:

Please get in touch with us if you meet these criteria and are not currently receiving working for families.

Inland Revenue will not be issuing Refund Cheques.
Inland Revenue has advised that they no longer want to issue refunds in the form of cheques. There is uncertainty as to whether this is to reduce administration costs or as a way to obtain the bank account details of all taxpayers (which then can not only be used for gaining information but also to retrieve unpaid tax!) Understandably, we prefer not giving your bank account numbers to them. So, we now have a Tyler Price Trust Account into which, with your permission, your tax refunds can be deposited and then transferred by us, into your designated bank account. If you are due a refund you will be asked for authorisation to have it deposited into our Trust Account.

Have you ever lived and worked overseas? Do you have a foreign Pension?
If you have lived and worked overseas and still have a pot of gold on foreign soil you may wish to consider moving it here as the longer it is left, the more it will be taxed when you do bring it back to NZ. If this applies to you, give us a call and we can discuss your options.

Credit Cards
We are aware that many of you maximise your credit card use in order to earn Air New Zealand air points. In case it has escaped your notice, after many years of association, Air New Zealand is leaving the BNZ and partnering with Westpac. If those air points are important to you, you may wish to consider doing the same!

For those of you on BankLink, choose the Business Mastercard for your business transactions; it gives you the same airpoints and status points as the Platinum Card but it's the only one that BankLink accepts. Please let us know when you've made the change so we can get your new card loaded onto BankLink straight away.

And on the subject of credit cards, we are pleased to advise that we now accept credit card payments as an option for paying your accountancy fees. However, these payments are subject to an additional 3% transaction fee. If this is of interest to you, give us a call. And note that if you pay your fees before the 31 ^st of March, you can include them in your March 2015 GST and income tax returns.

New Health and Safety requirements…Will this affect you?
Just a reminder that from the 1stof April 2015 there will be a new Health and Safety at Work Act, replacing the Health and Safety in Employment Act 1992. Business owners (regardless of how small) and company directors need to get their work place safety procedures and processes documented and complied with, to reduce the risk of severe penalties. We are now the proud owners of an ACC approved Health and Safety Manual, which we are confident will not only help us avoid the new penalties but is now giving us a discount on our ACC levies. If you would like our assistance in doing the same, please let us know.

Company removal from the Companies Office register
In the past, the Companies Office would automatically remove companies from the register when the Annual Return was not filed by a particular date. Sadly, this is no longer the case. If you no longer want your Company to exist we will need to go through the short form removal process. This will incur a cost of approximately $300. Give us a call to discuss if this applies to you. You will continue to receive reminders to file your company annual return until it is struck off.

Overseas Directors
And another change from Companies Office: From the 1 ^st of October the Companies Office will require at least one Director of every company to live in New Zealand. If you are a Director of a Company living overseas and we have not contacted you please get in contact with one of us to discuss your options.

Thank you for taking the time to read our newsletter. If you have any questions or need further information please do not hesitate to pop in to our Grey Lynn office or give us a call. We look forward to hearing from you.

Client Questionnaire now available online

Sun, 15 Mar 2015 13:00:00 GMT

You can now access the Tyler Price end of year accounting compliance questionnaire here . Just download and save to your desktop then fill in the form and send it back to us with your records.

This questionnaire will also help you decide which information we require in order to complete your accounts. There will be some items on the questionnaire which are not relevant to your situation.

Please do not hesitate to contact us should you have any questions regarding the questionnaire.

Client Feedback Survey Results

Thu, 29 Jan 2015 13:00:00 GMT

We want to thank everyone who took time to fill out the Tyler Price client feedback survey. As first time surveyors we were a little nervous that (1) no-one would respond and (2) that all the feedback would be really negative. However, we are delighted to report that we not only received a high level of response, but that the responses were overwhelmingly positive! We received an overall score of 4.4 out of 5, which we feel shows that we are on the right track with a bit of room for improvement.

As you will be aware, the team has worked very hard over the past year to improve our services and we're pleased to see this acknowledged in many of your responses. Here's a summary of the results:

THE STAFF AT TYLER PRICE ARE HELPFUL AND EFFICIENT

96% of respondents agreed or strongly agreed with many commenting on the vast improvement in our servic e over the past year! We're delighted that so many of you are seeing the benefit of our efforts and promise to keep up the good work.

MY INVOICE IS FAIR AND REFLECTS THE SERVICES PROVIDED

Although 78% of people either agreed or strongly agreed (with 20% of you neutral), we did receive comments that it is not always clear what we are actually billing for.

We acknowledge that the quality of information provided on our invoices has traditionally been poor because we were using the standard MYOB Accountants Office invoice template. We are pleased to advise that one of the biggest benefits of our June software upgrade was a significantly enhanced invoicing system and those of you that have received invoices since June will have noticed that more information is now feeding through onto our invoices. It is a work in progress and further improvements are being made.

We are also now billing as we do significant work (e.g. GST returns) instead of just billing a year's work in one lump sum. We believe that this is also providing transparency to our charges.

However we are also happy to provide detailed breakdowns when required.

TYLER PRICE KEEPS ME WELL INFORMED ON RELEVANT MATTERS

Although 92% of people either agreed or strongly agreed that we keep you well informed on relevant matters, we were asked for more clarity on what can and can't be claimed, some insight on ourselves, and additional 'know how' on how to make you get the most from your businesses.

We now have a website which has lots of useful information on it and is updated regularly by our team . There's an "our people" page which gives a bit of background on each member of the team and a "resources" page which includes a comprehensive list of claimable expenses. We also have a "welcome pack" for new clients which includes information about ourselves, our services, expenses, rental properties and accounting software options. If you would like a welcome pack (even if you've been a client for some time) please let us know , otherwise log onto our website and have a browse!

In addition to our quarterly newsletter, in which we bring you up to date on recent developments, we now also have a blog on our website, on which we will post useful information as we receive it. Please let us know if there are any aspects of business/finance which you would like us to cover in either of these forums.

We are currently conducting a review of ACC / Income Protection insurance with a view to (1) ensur ing you are all adequately covered in the case of an accident, and (2) not paying more than you need to (many of you are doubling up with both ACC and private insurance). We are also developing Health & Safety M anual templates to help you comply with the new Health and Safety legislation coming in later this year.

We are keen to help to add value to your businesses beyond simple tax compliance so please let us know if there are other areas you would like our input on.

We have had some queries about apps and software – if you have any fancy gadgets or are wondering if there are any useful apps to help you keep organised, give us a call and we can look into it for you as it will depend on what phones/laptops you own.

We have also had clients offer to come and share their areas of expertise that may be relevant to other clients, so we will be looking at having the occasional information night. Watch this space!

MY MATTERS ARE DEALT WITH IN A TIMELY FASHION

96% of people agreed or strongly agreed that we are dealing with matters in a timely fashion – once again noting a noticeable improvement from previous years.

If your work is urgent, please do let us know and we will do our best to accommodate.

I WOULD RECOMMEND TYLER PRICE'S SERVICES

98% of you said yes – thank you: the best clients come through word of mouth and we are always happy to meet and help new people.

Just one client expressed dissatisfaction with service received from a now ex-employee. Please be assured that we were aware that the noted employee was not providing service to the required standard and consequently has now left the business. We've had fabulous feedback in relation to her replacement and therefore are confident that your issues will not be repeated.

Finally, we are pleased to announce the winner of our Christmas Hamper draw (which we resisted the urge to include our names in…) Congratulations to Colin and Pam Laker! We hope you enjoyed the goodies.

Pay by Credit Card

Wed, 21 Jan 2015 13:00:00 GMT

Good news - you can now pay your Tyler Price Accountants bills with your credit card! Give us a call 09 360 8425 or email office@tylerprice.co.nz if you would like to get more information or make a payment.

We're back

Sun, 04 Jan 2015 13:00:00 GMT

Welcome to 2015 - we are now back in the office after a refreshing break. Give us a call, email or pop in if there is anything we can assist you with.

We're all going on a summer holiday!

Sat, 13 Dec 2014 13:00:00 GMT

Our Tyler Price team will be away from the office from December 19th and will be back to business on January 5th.

We wish everyone a Merry Christmas and a Happy New Year. Please email us if you have any queries and we will get back in touch as soon as possible.

IRD on the roam for fraudsters

Tue, 09 Dec 2014 13:00:00 GMT

Check out this article from the East and Bays Courier. IRD are looking more closely at your tax returns and what is being claimed.

December 2014 Newsletter

Thu, 27 Nov 2014 13:00:00 GMT

An update to how we keep you updated
Here at Tyler Price we like to keep up with what is new and relevant. This year we upgraded our MYOB software, made improvements to our business processes, developed our new website and added some fresh faces to our team http://www.tylerprice.co.nz/about_us . We are continuing to develop and as a result, come 2015 we will put any updates and important info on our Tyler Price website blog, and just release concise newsletters when we feel they are needed. Check out our blog here http://www.tylerprice.co.nz/resources/blog

New Health and Safety requirements…Will this affect you?
From 1 ^st April 2015 there will be a new Health and Safety at Work Act, replacing the Health and Safety in Employment Act 1992. Managers and company directors need to get their Work Place Safety procedures and processes documented and complied with, to reduce the risk of severe penalties and Tyler Price Accountants are, as ever, here to help. If you want more information on the reform, you can visit our website (insert link) or call one of the friendly team members to see how we can help give your Work Place safety a bit of a health kick and avoid the risk of being fined.

Reimbursements of Expenses include GST
It is a common misconception that GST does not need to be charged when claiming a reimbursement for business expenses from an employer: particularly when claiming overseas expenses. Please note that, regardless of the nature of the expense, if you are GST registered, you must include GST on all items on your invoice – even if you haven't paid GST on the underlying expense yourself.

Watch out for the scan scam
For those of you using swipe debit cards e.g. payWave, there are electronic devices that can steal your card details with just a swipe, even if it is in your wallet or bag. Make sure you keep your card safe and track your account expenditure if you have one of these cards.

Emails
Unfortunately sometimes we can't always be 100% sure that emails get through to you: technology has been known to let us down on occasion. We now email your Tax and GST payment reminders, but if an email does not get through this can result in interest and penalties to IRD, yuck! Therefore we would greatly appreciate it if you could take the following two small steps to ensure we are communicating with you effectively:

If you change your email address – please let us know.
And a quick reply email with "thanks" or "I'm on to it" or "I hate IRD" would let us know that you have received our email.

We want YOU for our website…
You will have seen profiles of many of our clients in previous newsletters. Now that our website is up and running, we are incorporating a business directory listed by categories, on our website with profiles of our clients and companies. If you are keen to get your face and a wee blurb about yourself or your company on our page of "preferred suppliers", then please give us a call or email Katie@tylerprice.co.nz

Spread the word
With our hard work and efforts paying off, on upgrading our system and improving our processes, we've become super efficient and are now ready to expand. We want to thank those clients who have recommended friends, family or colleagues to us. We are always excited to have new clients come on board with us, so we welcome any further referrals from you.

Give us your feedback and go in the draw to WIN!
We want to make sure you, our valued clients, are getting quality service from our team. Follow this link to complete the survey https://www.surveymonkey.com/s/L29Y6MJ . The survey is completely anonymous. Please take a moment to complete the survey then email us the promotional code found at the end of it to go in the draw to win a prize! We promise the prize will be much more interesting than the survey. The draw closes on 11th December so don't miss out.

Important Tax Dates
15 January 2015:

November GST return and payment due for monthly and 2-monthly GST registered payers
2 ^nd instalment of 2015 provisional tax for non GST-registered taxpayers
2 ^nd instalment of 2015 provisional tax for monthly and 2 monthly GST registered taxpayers

7 February 2015:

Terminal tax due for taxpayers who do not have extension of time (non-complying taxpayers)

7 April 2015:

Terminal tax due for taxpayers who do have extension of time (complying taxpayers)

Annual Donation
Too often we are shocked and saddened to hear the news that cancer has struck the lives of members of our client community. In lieu of Christmas cards, this year Tyler Price will make a donation to the Cancer Society in the hope that this will go a little way to supporting those affected by cancer.

We are wrapping up for Christmas
We can't resist the call of summer, BBQs, beach, family and friends so Tyler Price Accountants are switching off and shutting up shop for two weeks. We will be closing down on Friday, December 19 ^th and back to business on Monday, 5 ^th January 2015. We hope you all have a wonderful and safe Christmas/New Year break and we are looking forward to catching up with you when we get back.

Welcome to Tyler Price Accountants

Wed, 26 Nov 2014 13:00:00 GMT

Hi there

You have found our blog page. Visit here to keep up to speed on important updates and to see what is happening in our Grey Lynn team.

If you have any questions or want to discuss our services, feel free to give us a call +64 9 360 8425.