How does a Shareholder Current Account work?
A Shareholder Current Account is a record of transactions between a company and its shareholders. Let’s explain how it works.
What is a Shareholder Current Account (SCA)?
An SCA can be a bit of a mind-bender because you have to keep in mind that the company isn’t you!
What business expenses can I claim?
It’s in every business owner’s best interest to track and claim all of their expenses. After all, the higher your expenses, the lower your profit. That means less tax to pay.
Can My Business Own My Car?
Should you bring a personal vehicle into your business? Surprisingly, it’s sometimes better if you don’t!
Can my business claim motor vehicle expenses?
Of course! The better question is – how much can be claimed?
Speaking in Numbers. Accounting Terms Explained.
Like most business owners, we love it when clients understand what we do and want to know more about our world.
Tax pooling – answering your questions
Tax pooling has been around since 2003 but most people have no idea of this attractive option to pay income tax.
Personal Income Tax Threshold Changes
The personal income tax (PIT) brackets have been updated in Budget 2024. Is your payroll system prepared for these changes? Read on for the details on the new income tax brackets.
Progress of accountant (internal)
Notes for what accountants should be able to do after periods of time.
Fringe Benefit Tax – is it Fair?
Employees who received fringe benefits as part of their pay should be taxed, just like regular wages.
Business Owners: How to Pay Yourself
As a business owner, it’s important to make enough profit to cover your personal expenses. But how do you determine your regular “income” when your accounts are only prepared annually?
Unravelling the Roles: Directors vs Shareholders
Shareholders and directors work hand-in-hand to steer the company forward. Each has separate, distinct roles, responsibilities, and potential liabilities.
Business Basics – what are financial statements?
Discover what’s in financial statements, why they’re created, and who finds them helpful.
Business Basics – what taxes do businesses pay?
One of your many obligations as a business owner is pay tax and my goodness, there are a lot!
Learn more on the tax that most small and medium business physically pays to Inland Revenue.
Business Basics – GST
To register or not to register? That’s a very good question faced by business owners when starting up, and also when expanding operations. Read further for answers to your questions.
Business Basics – Income Tax Return
We’re going to break down the front page of the tax return – what are the components and how do they relate to the information you’ve given us?
Big News!
Parliament has been hard at work, and the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill has been pushed through and now awaits Royal assent. Here are the highlights and how it may impact your personal situation.
Let’s Get Started with Cash Flow Forecasting!
Ready to start managing your money like a pro? Let us guide you through the process of preparing a cash flow forecast.
What does Traktion actually do?
Traktion is here to help you discover your business potential. At Traktion, we provide the forward momentum you need to get a grip on your business – and even your life.
Minimum wage increase
Effective April 1, 2024, the minimum wage will increase to $23.14. As an employer, you must comply with this increase and pay their employees at least the new minimum rate.