Figuring out what business structure best suits you and your business needs can be confusing to say the least. Not only are there are many personal factors that you will need to take into account when deciding, but there are also benefits and drawbacks for each.
Everyone has that one big business idea. Whether it is to open a cat cafe or start a lifestyle blog, your dream business can be deeply personal to you. For this reason it can be hard to look at your idea with a critical eye, and judge whether there are other people out there that will be just as interested in matcha flavoured frosting as you are.
On the 17th of April 2018, Inland Revene made some big changes to the myIR portals. These changes were implemented to make filing your tax simpler.
The most noticeable change would have to be the renaming of the ‘My GST’ section to ‘My Business’. In this section you will be able to:
As of April 2018 Inland Revenue has introduced a accounting method. AIM (Accounting Income Method) is being pitched as an easy way that your business can pay tax as you earn profit and as an alternative to paying estimated provisional tax. To be eligible to use AIM you must: have turnover under $5m choose AIM … Continue reading What is AIM?