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Business Advisory Accounting & Tax Services Limited

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Business Advisory Accounting & Tax Services Limited

We’re Chartered Certified Accountants based in Auckland, New Zealand and provide high-quality acco

We’re a firm of Chartered Certified Accountants based in Auckland with clients all over New Zealand. We provide high-quality accounting, tax and business advisory services at affordable rates to small and medium businesses. We understand that you want confidence that your tax returns and business advisory services are being handled by professionals who will file them correctly, and on time. At Bus

iness Advisory Services, we have a competent, friendly team of accountants & tax professionals who are committed to making all of the above happen for you, with unparalleled levels of dedication and integrity. Since we’re committed to “walking our talk”, I’d much rather offer you a concrete demonstration of our skills. So why don’t you get in touch with us on 09 449 0417 and let us show you that some accountants really do care and want to help you succeed

01/06/2026

TUESDAY TAX AND FINANCE: Shareholder loans on winding up

Budget proposals may change how shareholder loans are taxed when a company is removed.

Budget 2026 proposes a new rule for closely-held companies. If enacted, an unpaid loan from the company to a shareholder, director, or close relative could be treated as taxable income. The trigger is six months after the company leaves the Companies Register.

The proposal applies to companies removed on or after 4 December 2025.

What can go wrong is assuming the loan balance disappears when the company is struck off. If the proposal becomes law, that assumption could create unexpected taxable income.

Example: A company is removed from the Register, then six months later a $20,000 shareholder loan remains unpaid. That amount could be treated as income.

Keep a record of shareholder loan balances when winding up a company.

25/05/2026

TUESDAY TAX AND FINANCE: GST and PAYE due

GST you charge customers, and PAYE you deduct from wages, are taxes you collect on behalf of the IRD. Many businesses use the money as a form of borrowing to manage cashflow.

What commonly goes wrong is using the GST or PAYE portion to cover wages, suppliers, or rent. This is not solving a cashflow problem. It creates a compliance problem that compounds.

When the due date arrives to pay IRD, there’s not enough cash left. IRD's latest quarterly data shows exactly where this leads.

On 31 December 2025, NZ businesses owed $9.0 billion in overdue tax and entitlements debt. More than half of was GST and employer deductions (PAYE).

IRD issued 44,000 compulsory bank deduction notices during 2025 – almost double compared to 2024.

Many business owners know they are behind on GST or PAYE. Fewer understand what that position actually means.

1️⃣ Penalties and interest begin accruing immediately on overdue amounts. And do not stop.
2️⃣ Unpaid GST and PAYE are the primary triggers for IRD's most aggressive enforcement: bank deductions, statutory demands, and prosecution.
3️⃣ Directors can face personal liability where employer obligations go unmet.

If your GST or PAYE position is not current, the time to address it is before IRD contacts you, not after.

18/05/2026

TUESDAY TAX and FINANCE: Dangers of using AI for Tax

IRD has set explicit expectations for taking “reasonable care” when using AI for tax questions.

It says relying only on one AI response can fall short. If that leads to an incorrect tax position, a shortfall penalty may apply. Under tax law, “not taking reasonable care” can trigger a 20% penalty on the tax shortfall.

One common mistake is treating an AI answer as confirmation for GST, deductibility, or filing obligations. If the output is wrong, the cost can be extra tax plus penalties.

Example: You apply an AI answer to GST on a sale. IRD later disagrees, and a 20% penalty is added. 🤖

Save this as a reminder: AI output is not evidence by itself.

21/04/2026

WEDNESDAY WISDOM
Clarity Drives Decisions

Strong results usually follow clear decisions.

We often work with business owners who have the data but still feel uncertain. Reports are available, performance is visible, yet the next step is unclear.

In practice, the issue is rarely a lack of information. It is a lack of clarity around the decision itself.

Recently, we helped a client work through whether to invest further in growth or protect current capacity. The numbers supported both paths. The difference came from timing, risk, and what the business could realistically carry.

This is where advisory work matters. We help turn information into clear, usable decisions.

When clarity improves, progress tends to follow. If a decision is sitting unresolved, it may help to talk it through.

20/04/2026

TUESDAY TAX AND FINANCE
Provisional tax instalment due

The next provisional tax instalment is due on 7 May.

If your financial results have changed this year, the amount due may not match your actual results.

Our team is available if you need support.

25/02/2026

THURSDAY INSIGHT: INSURANCE RARELY FAILS LOUDLY.

It fails quietly, until it matters. Insurance usually makes sense at the time it is arranged. Then businesses change.

Assets are bought or sold. Revenue shifts. Risk profiles evolve. Cover often stays the same. That is where problems arise. Over-insurance wastes cash. Under-insurance creates false confidence. Both are common.

A review is not about buying more cover. It is about alignment. What risks still exist. What no longer does. And what assumptions are now outdated.
Many issues only surface when a claim is made. By then, options are limited.

A short, deliberate review can remove unnecessary cost. More importantly, it reduces unpleasant surprises.

Insurance should support the business you run now. Not the one you used to run.

24/02/2026

WEDNESDAY WISDOM: Growth rarely fixes underlying issues. It tends to expose them faster and at greater cost.

Strong foundations matter most when pressure increases. If demand lifted suddenly, which part of your business would feel it first?

23/02/2026

📣 TUESDAY TAX AND FINANCE: IRD AUDIT ACTIVITY
IRD completed around 6,700 business audits in 2025, and routine reviews remain common.

An audit checks whether filed tax returns match underlying records. Reviews often focus on GST support, expense documentation, payroll records, and income completeness. An audit does not require complex tax issues to be triggered.

A common mistake is poor documentation. Missing invoices, unclear descriptions, or unsupported GST claims are frequent audit findings. During a review, the IRD relies on records, not explanations. Where information is incomplete, reassessments, penalties, and interest may apply.

Audit levels change. Record-keeping obligations do not 📁

If you receive an IRD review notice, gather the requested records before responding.

18/02/2026

THURSDAY INSIGHT: GOALS MISLEAD. SYSTEMS BEAT GOALS
Goals feel productive. Systems create results.

Many business owners set clear goals each year. Fewer build systems that run without constant effort. That gap explains why progress often stalls.

A goal describes an outcome. A system defines repeatable behaviour. Goals rely on motivation. Systems reduce reliance on motivation.

When work gets busy, systems still operate. When energy drops, systems still execute. That is the difference.

Paying yourself is not a goal. It is a cashflow system. Reducing pressure is not a wish. It is a decision framework and a set of default actions. Creating space is not luck. It is a system for what gets declined.

Well-designed systems share common traits. They are simple. They repeat weekly or monthly. They remove choice at the point of ex*****on.

Progress usually comes from boring consistency. Not dramatic change. A useful test is this. If a result matters, ask one question. What must happen regularly for this to take care of itself?

That is where real improvement starts.

17/02/2026

WEDNESDAY WISDOM: Many business issues linger not from neglect, but because the warning signs appear after decisions feel urgent.

When visibility improves, behaviour often changes without intervention. Where is delayed information forcing rushed decisions in your business?

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2B Aberdeen Road, Campbells Bay
Auckland
0620

Opening Hours

Monday	8:30am - 5pm
Tuesday	8:30am - 5pm
Wednesday	8:30am - 5pm
Thursday	8:30am - 5pm
Friday	8:30am - 5pm

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