to contact us call
0800 11 33 99
jamie@e3accountants.co.nz
Office: 10 Oxford Terrace, Christchurch, NZ
Invitation

Introducing New Zealand's Number One
Accounting Offer 

 +  Fixed Price Accounting - guaranteed
 +  Fixed Date Delivery - guaranteed
 +  6 months Free Xero - the world's easiest accounting system
       (or other accounting software offer)
Want to know more?
Phone me on 0800 11 33 99 or email jamie@e3accountants.co.nz for details
Jamie Tulloch
Managing Director

 

 
BUSINESS TIP
What is the ideal size for your business?
Business expands to consume the capital available.
The new high performance Bugatti Veyron requires 20% more power to go 6% faster than the standard Veyron.
The law of diminishing returns.
What do all these statements seem to have in common? One way or another, they say that business and physics have similar traits when it comes to scale. Every business and everything mechanical has a "sweet spot". You need to ask what is the business sweet spot for my business? Is it $500K in sales? Is it $1M in sales? Is it 5, 10 or 15 staff? Is it $100K net profit?

At what scale is your business operating at its peak giving you the best return for your time and investment?

These questions are challenging but the good news is that "sweet spots" can be found using the right metrics and software./

If you want to find your business's "sweet spot", let me know. We have great software that will help you find the "nirvana sweet spot" in your business. 
 

TAX TIP
Earthquake wage subsidies
If you applied for and received a wage subsidy, please not that the amount received into your bank account includes GST. When you file your next GST return, make sure you return the GST content of the subsidy.

And on the subject of the earthquake wag subsidy, we have had clients reporting to us they received payment within 3-5 working days of making the claim. No questions asked.

This is a remarkable contribution from the government and they must be congratulated for being so pragmatic and getting money out to those who needed it most within days of the request.

BUSINESS RELOCATION COSTS
Beware - not all costs are tax deductible
Where the relocation of a business forms part of a plan or strategy to embark on a new type of business, or to introduce new product lines or services, or to change the structure of a business to enable it to operate in a new or different way, the relocation costs may be more akin to costs incurred when establishing a new business, and therefore not deductible.

However, if you are forced from your premises (earthquake, flood, fire etc), then deduction of expenses is acceptable. 
DISASTER LESSONS

What did Canterbury business owners learn from the earthquakes?

  1. Review your insurances to make sure they cover a major disaster, destruction of your assets and business interruption/loss of profits insurance.
  2. Make sure all your staff have the home phone, cell phone and home email address of everyone in your business so they can all communicate with each other.
  3. Computer back ups - make sure your computer back-ups work and are tested regularly.
  4. Test your UPS (uninterrupted power supply) to make sure it will manage a controlled switch off of your server.
  5. Enable key staff to have remote access to your server to help maintain services.
  6. Know the safety standards of your business premises.
  7. Practice an urgent but orderly exit strategy from your business premises.
  8. Install and practice with safety equipment.

Disasters do happen. Being prepared can reduce injury and loss of life as well as reducing asset destruction.

 




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