Imran Kamal owns businesses himself and understands the challenges you face on a daily basis. He appreciates the importance of growth and efficiency in businesses small and large, and offers concrete solutions.
Setting up a new business is an exciting time! There is so much to do, plan and organise – it can seem never ending! Most new businesses have a lot of things to organise – including paperwork, banking, office space, leases, employees and more.
One crucial element for new businesses is sorting out their accounting systems. It is very important as a new business to ensure that all of your accounting and paperwork is complete and accurate. There are various documents you must submit as a new business here in New Zealand:
- Register the company at the Companies Register
- Register at the Inland Revenue for tax purposes
- If your businesss is run through a company you will need to get an IRD number
- Register for GST for a turnover of more than $60,000
- If you are employing staff you may need to register for Fringe Benefit Tax (FBT) and the Employer Superannuation Contribution Tax (ESCT)
You may need to consult with regional councils depending on the nature of your business
Here at Accountants First Imran Kamal can help new businesses setting up in New Zealand! Whether you are at the start of the process and need guidance or are looking to diversify your current business, Imran Kamal can help! Please get in touch for more informaton!
As your business grows and matures, challenges may surface bringing new risks and unforeseen issues. Accountants First solid business experience allows us to tailor business solutions directly to your circumstances.
Imran Kamal, Accountants First, is a Practising Accountant. As a respected business strategist and lateral thinker, Imran Kamal’s practical business guidance is principally geared toward growth. Imran’s commercial know-how often allows him to act as a client’s financial controller and trusted business adviser.
Have your financial circumstances altered since last year?
Did you recently buy a house, get married or have a child? If you did then you’ll need to make sure that you are aware of all the tax parameters around these new situations. You want to know the tax deductions and credits that come along with the changes; this will take some research.
If you haven’t got the time, or the inclination to get a handle on the taxation-related changes in your life, then a tax professional is more likely to pick up on the things you’ve missed. Even a brief chat with someone who knows the ins and outs of the tax system could trigger ideas on other things that have changed for you since you last filed a return.
So if your situation is not straight forward or your circumstances have changed in the past year, take the time to sit down with a tax specialist so you know for sure that you are not paying more tax than you really need to.
– Imran Kamal is a certified Accountant and Tax Advisor in Wellington, New Zealand.