The Audit Shield invoices have been emailed out for this year.  This insurance covers you up to $13,000 in fees, $26,000 for larger businesses, if Inland Revenue review or audit any of your tax returns including income, GST and PAYE.  The time involved can be substantial and so can the fee for these audits and reviews.

Inland Revenue are now a lot more proactive in reviewing returns & asking for more information on a lot more GST and income tax returns.  It is worth taking out to save you the pain of large costs if IRD do a review or audit.  As previously mentioned in the past we have often reacted to any IRD enquiries in the background without informing and charging you for our time. As the IRD activities escalate, we unfortunately will no longer be able to do so anymore. With our Audit Shield Master Policy, you can mitigate the potential unplanned costs associated with IRD review or audit activity.

These reminder emails have been sent out with payment due on the 7th of April 2025.   If you have any questions regarding these the best thing is to email us, and we will respond to you as soon as possible.

Don’t forget to set up your payment on internet banking.

If your end of financial year is 31 March, then don’t forget to do your stock take around that date.  If your turnover is less than $1.3 million and your stock is less than $10,000 then we can use the opening stock figure.  So, if your stock level is more than $10,000 you must do a stock take.  We need the cost price to you for accounting purposes.

The minimum wage is increasing to $23.50 per hour for adults 16 years and over from 1 April 2025.  The Starting Out and Training wage rates are also increasing to $18.80 per hour.  For further information follow this link on the button below.