Keep up-to-date with us and what's happening in the business world |
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- Welcome 2026 - Important Notices
- Goal Setting for 2026: Planning for Success - Xero Tip of the Month: Xero’s New Homepage Refresh Coming Soon!
- Tax Question of the Month: New Year Tax Health Check: The Fringe Benefit Tax on Holiday Perks - IRD Upcoming Tax Payment Dates |
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Welcome back - Let's get the year underway! We hope you had a relaxing and enjoyable holiday season and are ready to embrace all that 2026 has to offer. The All Accounted For team is back in action and looking forward to working with you as your trusted accounting and business advisory partner. As the year unfolds, now is a great time to pause, review, and plan ahead. Whether it’s staying on top of upcoming tax obligations, strengthening cash flow, planning for growth, or responding to changes in your business or the wider economy, we’re here to provide clear, practical advice at every step.
In our General Ledger newsletters, we’ll be sharing updates, insights, and reminders throughout the year to help you stay informed and prepared but if there is anything specific you’d like to discuss, please don't hesitate to reach out to our wonderful team on 04 970 1182. A quick conversation early on can often make a big difference later. Your business goals remain at the centre of everything we do, and we look forward to supporting you through the opportunities and challenges of 2026 and beyond. |
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Provisional Tax & GST - Due 15 January 2026
A reminder that both GST and Provisional Tax are due for payment on Thursday, 15 January 2025. To avoid any interest charges or late payment penalties from the IRD, it's important to plan ahead and ensure you have the necessary cash flow to meet the deadline.
As always, we are here to help. If you need an instalment arrangement or extension put in place for the provisional tax or GST, please contact us as soon as possible at 04 970 1182. By addressing these matters before the due date, we can work together to find a solution that best fits your circumstances. |
GOAL SETTING FOR 2026: PLANNING FOR SUCCESS |
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The beginning of a new year is like hitting the reset button, right? If you're a business owner, this is the perfect time to take a step back and think about where you're at and what you want to achieve in the upcoming year.
Setting goals is like the secret sauce for personal and professional growth. Whether you're dreaming big or just plotting out some day-to-day projects, like getting paid faster or tightening up your expenses, it's all important. Maybe you're even thinking about automating some processes or venturing into new markets. Whatever your game plan, the new year is your canvas. |
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| Having a clear vision and tangible goals is the key to making those big dreams a reality. So, let's dive into some tips to kickstart your goal-setting journey:
Review the year that's been: Take the time to review the year and acknowledge all that has happened, good, bad or indifferent. Examining the year with an objective perspective can provide valuable insights to prepare for the next business year. Planning and goal setting will help provide a focus for your business efforts. Envision your future: Picture where you want to be in the next five or ten years. How can your business help you achieve those life goals? Having a clear endpoint makes it a whole lot easier to set goals that align with your vision. Set measurable goals: Wishy-washy goals are like trying to catch a cloud. Instead, aim for goals you can measure. Think about the key metrics in your business, like a 3% increase in net profit each year, a 2% cut in expenses, or grabbing two new customers monthly. Specific targets make tracking progress a breeze. Develop a plan for each goal: Once you've got your goals lined up, create a game plan. This could be a simple list or a brainstorming session with your team. Having a clear plan keeps you focused and ready to roll.
Monitor your progress regularly: Keep tabs on how you're doing. Set reminders or sync up with your invoicing cycle. Regular check-ins help you spot areas for improvement and keep those fresh ideas flowing.
Celebrate your achievements: Don't forget to celebrate those wins along the way. Treat yourself or your team to something special. It could be a morning tea, a day out of the office, or even planning an end-of-year bash. Find something that brings you joy without breaking the bank. We can help: Not sure where to start? We’re here to help! We can assist you in planning and tracking the key steps that will keep your business moving forward.
At All Accounted For we pride ourselves in offering our clients a progressive approach in all aspects of their business. Whether it's working through a financial model, providing support to execute your plans, or helping to identify your advantages - together, we can help you make headway to reach your business goals. When you conduct a past-year review with one of our experienced advisors, we will: - Run through your current business plan
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Provide feedback on where you are heading and talk through the opportunities you might not see in your own business
- Provide valuable insights for this year's goal setting
- Implement a tailored business plan
Keen to learn more? We offer many business advisory services including: - Business Reporting: monthly, bi-monthly, or quarterly
- Cash Flow Forecasting
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Budgeting
- Business Valuations
- Software Systems & Apps: setups and assistance
If you’d like to chat about what you can do differently this year to enable your business to thrive, give Ben Duflou a call on 04-970-1182 to discuss how we can help. |
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XERO TIP OF THE MONTH: XERO’S NEW HOMEPAGE REFRESH COMING SOON! |
Back in September, we announced that Xero was working on a refreshed navigation and homepage (formerly the Dashboard) to deliver a faster, cleaner, and more intuitive experience. With the navigation changes now live, Xero is moving to the next major update: the fully redesigned homepage.
The new homepage is being introduced organisation by organisation over the coming months and will continue through to March 2026, so you may begin to see the updated layout appearing soon.
Here’s what’s new in the homepage refresh: - More meaningful insights: Xero has upgraded existing widgets and introduced new ones such as tasks, recently paid invoices, and net profit/loss - giving you important financial information at a glance.
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Customise your layout your way: You’ll be able to drag, drop, resize and reorder widgets so your homepage reflects what matters most to you. Your layout is unique to your login and won’t affect anyone else in your business.
Time to adjust: If you’re not quite ready for the new look, you can temporarily switch back to the old dashboard for up to 24 hours before Xero automatically returns you to the new layout - giving everyone the chance to ease in.
As always, if you have any questions or would like help navigating the changes, please don’t hesitate to call our team on 04 909 7729. We’re here to support you.
If you’d like to learn more about these upcoming changes, Xero has recently shared a helpful overview, which you can access by clicking the button below. |
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TAX QUESTION OF THE MONTH: |
QUESTION: A director of a successful professional services firm wants to understand the Fringe Benefit Tax (FBT) implications of benefits provided to her team in December 2025. The company has a 31 March balance date and files FBT returns quarterly.
Specifically, she needs to know how to treat: - A year-end dinner for all staff and their partners held at a local restaurant.
- $200 gift vouchers given to each employee as a Christmas bonus.
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Allowing a senior manager to use a company-owned car for a family road trip over the Christmas-New Year break.
What are the FBT consequences of these staff benefits, and how should the company account for them in its FBT return for the quarter ending 31 March 2026? |
ANSWER:
Understanding the FBT rules for common staff benefits is crucial for managing your tax obligations correctly. Here is a breakdown of the three items. 1. The Staff Christmas Dinner This is treated as entertainment. The good news is that providing entertainment like a Christmas party exclusively for staff does not typically trigger an FBT liability.
However, while FBT may not apply, the expense is subject to the entertainment expense rules. This generally means the business can only claim a 50% deduction for the cost of the dinner and any associated costs like transport. The remaining 50% is non-deductible. -
Treatment: No FBT payable, but the expense is 50% deductible for income tax purposes.
2. The $200 Gift Vouchers
Gifts like vouchers fall under the category of "unclassified benefits". The tax treatment depends on whether they qualify for the de minimis exemption under section CX 5 of the Income Tax Act 2007.
The de minimis exemption allows businesses to provide small benefits to employees without incurring FBT, provided two thresholds are met: - Per Employee Threshold: The total value of unclassified benefits provided to any single employee does not exceed $300 in a quarter.
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Company-Wide Threshold: The total value of all unclassified benefits provided to all employees does not exceed $22,500 for the tax year.
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Treatment: As the $200 voucher is below the $300 per-employee quarterly limit, and assuming the company is within the annual $22,500 limit, no FBT is payable on these gifts. The full cost is deductible to the business.
3. Private Use of the Company Car
This is a motor vehicle fringe benefit. When a company car is made available for an employee's private use, FBT is payable. Allowing the manager to use the car for a family holiday is a clear instance of private use. -
Key Point: FBT is calculated on the availability of the vehicle for the entire quarter, not just the days it was used for the holiday. If the car is normally kept at the office but was taken home for the holiday period, FBT is payable for that quarter.
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Calculation: The FBT can be calculated using either the cost price or the tax book value of the vehicle.
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Treatment: This benefit is subject to FBT. The company must include the vehicle in its FBT calculation for the quarter ending 31 March 2026. The FBT paid is a deductible expense for the business.
Summary and New Year Action Points |
As we start the new year, we recommend these simple steps: -
Collate Costs Now: Gather all invoices and records for holiday-related staff spending while they are still fresh.
- Review for FBT: Identify any benefits that might be subject to FBT for the current quarter.
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Keep Good Records: Maintaining clear records is a fundamental taxpayer obligation and ensures you can accurately calculate and support your FBT position.
Getting on top of FBT early in the new year ensures there are no surprises when the next return is due and helps you manage your tax obligations efficiently. References
Tax Administration Act 1994, s 15B
For detailed rules on fringe benefits, including exemptions and calculation methods, refer to Subpart CX of the Income Tax Act 2007. |
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IRD UPCOMING TAX PAYMENT DATES |
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