Key News and Insights

Xero Plan Changes (2024)

From 12 September 2024, Xero will be introducing some changes to their plans and pricing. Current plans will no longer be available after this date but for those who already hold a Xero subscription, there will be no further changes to your account until 2025. 

We’ll be in touch before we make any change to your plan, and will ensure that you have a minimum of 60 days’ notice before your plan is moved. We will also be in touch to discuss your options in relation to changes to add-ons that may affect your subscription plan. 

Update on Tax Concessoins for Donating Trading Stock

Timely Tax Reminders

Understanding Non-BAU Transactions

Inland Revenue Audit Activity and Compliance Focus for 2024

House Flippers Beware

Individual Tax Rate Reduction

Smartly Deals

PKF has teamed up with Smartly to offer a great deal on payroll services for our small to medium business clients. Smartly provides one system for sorting your payroll and people admin. Linking directly to Xero it is a great tool to streamline and simplify your payroll processes. Smartly offers two options, DIY payroll and fully managed payroll. 

Automation and accounting

All too often we get into a routine without stepping back and considering why we are doing things. The same goes with our accounting systems and processes. Your finance team is probably busy keeping on top of their day-to-day workloads but has consideration been given to how productivity can be improved through the use of readily available software?

Government reverses interest deductibility limitations

With the new Government now firmly settled in, legislation has been passed which reverses the interest deductibility limitation rules that were introduced by the previous government in 2021.

GenAI - A leap forward

Artificial intelligence (AI) is the new buzzword at the moment, with business leaders touting its importance and the significant impact it will have on the way we conduct business.

Leaky home repairs concluded as not deductible

The leaky homes crisis represents one of the most severe problems faced by New Zealand’s property sector and continues to cause stress and anxiety for those affected. Adding to the uncertainty for rental property owners has been the question of whether repair costs are immediately deductible as ’repairs and maintenance’ (R&M).