March 2023 - Inside this issue
We have rescheduled our Economic Agility workshop for 14th March at 5.30pm at the Glen Eden Library.
This is a free community wide training so anyone can attend, they just need to register their interest.
In times of economic unrest and change, understanding your finances and where to invest that all important cashflow is critical to business stability in a recession. We have therefore teamed up with digital agency Trigger Digital to deliver a free client training that tackles agility from multiple angles, exploring it in the context of finance, resources and where best to invest your cashflow.
If you are wanting to attend this training, please register your interest by clicking on Register here below. We ask those who registered for the last training please re-register if you can attend this new date.
Scheduling March 2023 and 2024 MIAs
Our new look scheduling letters are in the process of being sent out for the March 2023 Financial Year. This new look letter, called the engagement letter, combines the 2024 Monthly Instalment Arrangement (MIA) letter, if you are on an MIA, and 2023 Financial year scheduling letter all in one.
The MIA covers the monthly fee for your group for the 2024 financial year which runs from 1 April 2023 to 31 March 2024. The scheduling part covers the 2023 Financial year records we require for 1 April 2022 to 31 March 2023.
If you are not on an MIA, your engagement letter will just cover the 2023 Annual fee and scheduling dates. Please get in contact if you do want to be quoted for a 2024 MIA.
For those not on an MIA, that are on a time and cost basis, we will follow up the engagement letter with an invoice for the fee the month before your accounts are scheduled.
We will be encouraging all our clients to provide clear, concise records in an electronic format either through Xero files or via an email. Instructions on how to access and save Xero files are here.
If sending records via email, the email should have a single ZIP file with folders structure like the checklist.
To encourage and support you in providing clear and concise records, we will be offering a meeting for all clients prior to providing the records on understanding your checklist and going through each item as to ensure you know what we need and how we need it. For those who have Xero, we will take you through how to use the files section, so you understand how it works and make your life easier going forwards.
For those who have received their engagement letter, please arrange your 30-minute checklist meeting before your records are due. Ideally this meeting should be face-to-face in our office, however we can do the meeting online if you are unable to come into the office by contacting info@taelsolutions.co.nz
Please read through your engagement letter once it is emailed to you. We will also be sending a copy via DocuSign for ease of signing.
Kidney Kids - Donations needed
We wanted to give a shout out to local charity Kidney Kids. Kidney Kids NZ is a not-for-profit organisation that supports children, their families and whānau with kidney disease. They provide families with resources, information, family support events, personal development, hospital visits, home visits and other assistance.
Through this, they support parents’ needs and support kidney kids to have the best possible experiences. They are a great organisation and need local support with donations.
Kidney Kids NZ run two camps annually Camp Keewee and Camp Yak. This is the first year they have been able to run a camp in 3 years due to Covid. They are holding a joint camp at Ngaruawahia for both groups this year in March.
Camp Keewee kids will do activities at the camp such as kayak, archery, and rock climbing to name a few.
Camp Yak young adults will be going off site to Hobbiton and an escape room experience.
Both Camp KeeWee (8-15 years) and Camp Yak (16 upwards) serve similar purposes - to give the opportunity for the kids to connect with each other. Friendships made at camps are significant and these relationships serve as strong pillars of support as a young person continues their journey with kidney disease. They see the fun, activities, and fellowship provided through camps as a vehicle to deliver life-long support to each kidney kid.
They would be very grateful for any donations to help with the camps.
Please make any donation you can to the following bank account: ASB 12-3114-0046019-00
You can find out more about Kidney Kids, and the great work they do here
We have teamed up with TMNZ to provide you with more options, including flexibility and freedom to pay IRD in instalments or on a timeframe that works with you (up to 75 days after the terminal tax is due).Tax pooling is all about freedom and flexibility. Instead of paying IRD directly on a given date, you can pay into the tax pool when it suits your cashflow.
When your tax bill arrives, TMNZ transfer the exact amount to IRD on your behalf. The second they do that, it’ll be considered “tax paid” by the IRD.
It allows you to pay for the tax when you have the cashflow. Some businesses like to overpay their tax when they have the funds. Because of this, they’re actually helping cover businesses that need a little more flexibility with their tax payment arrangements. So its like business helping business. Tax pooling gives you the ability to look ahead and match your tax payments to seasonal highs.
If you think Tax Pooling would be a good choice for your business, please get in touch with us and we can provide you with a quote.
If you have any questions or concerns for us, please don’t hesitate to get in touch with us.
From
THE TAEL SOLUTIONS TEAM
Are you ready to elevate your business? Our team at Tael is here to help. Take the first step towards your business growth by scheduling your complimentary initial consultation today.
