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Darren White

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    • TerryS

      Business Owner

      @terrys

      Question submitted 13/01/21 @ 05:43pm

      Hi,I’m looking for some advice regarding collecting VAT (tax).As a result of Brexit – we (an NZ product manufacturing and retail business) will now be required to collect VAT for our UK customers. Despite wading through many online documents regarding this – and contacting NZTE – we are still left with many questions. (Eg: Do we need a UK bank account? How streamlined is the actual process of paying VAT – does it integrate in with Xero software etc? What are the other fiscal record-keeping obligations etc?)Most website say: “Refer to a Tax expert”.We are wondering:• Are there any businesses out there that have been through this process that we could perhaps liaise with regarding this? OR;• Does anyone know of any Tax Experts whom might be able to efficiently/effectively provide this information?Thanks!Terry

      Category: Funding & Finance
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    • wownowproductions

      Business Owner

      @wownowproductions

      Question submitted 06/11/20 @ 01:08pm

      Hi – We’re a small film production and advertising company based out of Auckland. Of course, due to COVID 19, our business has greatly been affected and we’ve been struggling to generate income and continue operations as smoothly as before. Is there any assistance that is available to keep us afloat that you could recommend? 

      Category: Creative Services
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    • Das0nz

      Business Owner

      @das0nz

      Question submitted 27/10/20 @ 06:07am

      Kia ora. Would love some advice on how to structure my payment system to contractors. My business is all online. A portion of my business will be bringing in facilitators who I’ll be hiring to do the work. The work is created by the facilitator but ownership belongs to the business. Rather than giving them an hourly rate, I want to share the profits of the product they create for my business (75-25 %roughly) so they only get 75% of profit at the end of every month.My question is, what’s the best way to structurethis in terms of payments, taxes, accountability to IRD  etc. also I’m very new to business. Is there anything I  should be thinking about when paying people thank you 

      Category: Funding & Finance
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    • ShesheStyledThis

      Business Owner

      @sheshestyledthis

      Question submitted 23/10/20 @ 06:49am

      When business is still pretty fresh and there is no guaranteed income …just hope… How do I start paying myself? In a previous”business” I never paid myself but this time around I’m turning a profit and want to start paying myself something even if just small. Just want to make sure I’m doing that by the book.It won’t be a salary as such as turnover is not super high /consistent yet.Do I start on a commission based model maybe?For context : I’m a Sustainable Stylist and offer personal wardrobe styling services, personal shopping services and I resell preloved clothing ( both on consignment from Clients and items I’ve sourced secondhand)

      Category: Funding & Finance
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    • Lobinson

      Business Owner

      @lobinson

      Question submitted 18/10/20 @ 03:05pm

      Kia Ora,I own an existing online marketing business that is just pulling small amounts of residual income via Paypal after not operating it since the end of 2018.I have drawn up a business plan for a new business to service the rural community in NZ (mobile repairs, very low overheads etc).For this I am wondering if the best route to go is ($40k start up costs)1 – Register a whole new business, apply for MSD start up help and wage underwrite scheme as a new business and get the remaining finance ($30k) from bank or business lending.2 – Operate under the existing business, forget trying the MSD side of things and either using existing business to get a government backed loan and just go all in as a brand under that business.3 – Register a new business, try get MSD start up, get government backed loan on existing business and that business lend to the new one or become a shareholder in the new one (non controlling interest)At the moment the current position of the start up idea, we have more than enough guaranteed work to start with to easily cover my wages as a sole employee. The existing business will make a couple thousand dollars a month through other side projects over summer too however its cashflow has not been any more than $2k/m for the last 12 months so not the strongest records for it to go applying for finance either.Any advice or nudges in the right direction would be hugely appreciated :)Thank you.

      Category: Funding & Finance
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    • Amy 415

      Business Owner

      @amy-415

      Question submitted 13/08/20 @ 02:59pm

      Hey there, im a new small business, do you know if I would be eligible for the wage subsidy? I have 2 staff and 1 starting on 16th august. I own a hair salon and have to close and I have no income coming in? how will I pay them for these 3 days and if the lockdown is extended ? my email is amymartin415

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    • Starter100

      Business Owner

      @starter100

      Question submitted 15/07/20 @ 03:25pm

      Hi experts,I was made redundant due to covid, and am currently collecting the jobseeker benefit. I have since been offered a well-paying role, although this is not what I want to be doing. I was the primary earner in our family of four, and have a home mortgage of around $400k to service. (This is currently on interest only)I have now been presented with an opportunity to start a new business which will take up all of my time, and I was wondering if starting this business will immediately affect the jobseeker benefit, or will that only cease when the business returns a profit or pays me a wage? Is there any financial assistance for unemployed people to start a business? Anything specifically for businesses that have a great environmental impact? Any guidance here would be greatly appreciated. Thanks

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    • Colin

      Business Owner

      @colin

      Income, Revenue, Turnover which one?

      Question submitted 28/05/20 @ 02:10pm

      Hi, I also would like to thank you for helping us. Can you advise me on what is the figures we should be working on when calculating for the subsidy. I think I know what the difference between Income, Revenue and Turnover but which one we should be using for the subsidy calculations. We applied for the wage subsidy during level 4 because we expected a big drop in revenue as we had half our staff on lockdown, however we also got extra work for other staff to do security at various sites so our total revenue did not drop as much as expected. But because the wages costs increased dramatically our net income was well below the 30%. Now we are in the situation that all staff are back to work (with reduced hours) but we don't have enough work coming in to keep them busy PLUS the extra work that was required during the lockdown has ceased completely so it looks like our net income will be below the 50%. We also had the situation that a lot of payments came in during March but started stopping in April so the roll on effect isn't going to be fully obvious till probably the end of June. Do you think we can still allpy for the subsidy extension.

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    • LeanneFM

      Business Owner

      @leannefm

      Question submitted 27/05/20 @ 05:21pm

      Hi There, firstly thank you for your services, I have gained a lot from the forums. We are a Restaurant trading in Level 2 at about 70% of our normal Sales Revenue which would not see us as eligible for the round 2 wage subsidy. However our profit has been significantly impacted (over 50% down) due to the shift of sales to Uber and the fees we pay them along with all of our full monthly expenses. Even our packaging costs have doubled due to the amount of takeaways. Do you think the 2nd wage subsidy will extend to businesses in the same position as us?

      Category: Funding & Finance
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    • caspargreen

      Business Owner

      @caspargreen

      Question submitted 27/05/20 @ 06:14am

      Hi, I had just started a business before the pandemic. I think that there is a grant for any new business that is under a year old. Do you know if this is true? If it is can you show me where I can claim.Also i heard that there is a COVID-19 business helpline run by the government. Is this correct? What is the number?Thanks for your help.

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    • bgerding

      Business Owner

      @bgerding

      Question submitted 23/05/20 @ 05:49am

      Hello,I am running a small bed & breakfast with two rooms, quit a stressful job as a chef in October last year and welcomed my first guests end of January this year. It is a lot of work, with cleaning, preparing breakfasts, picking up and dropping off guests from airport and town.i am doing this as a sole trader as it was advised by my accountant and you can read the same on IRD’s website. But IRD told me now it is not a business and I have passive income. Well, at the end of a day it doesn’t feel like being passive. Why is this now not considered a business? My accountant told me, that I can claim costs against my business income which wouldn’t be possible if it is not a business.

      Category: Funding & Finance
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    • duffa44

      Business Owner

      @duffa44

      Question submitted 21/05/20 @ 12:53pm

      I am currently tangled in an unfortunate and exhaustingsituation where I cannot access wage subsidy and have been misled by Winz onwhat to do about it, my employer is negating anything to do with it and I amunsure what to do as I’m suffering pretty major losses now.A brief timeline and description of events is as follows..Employed and working through Extrastaff, sub-contracted to Frank MillerElectrical from:  13/11/2019 – 19/12/2019 – 5 weeks13/1/2020 -23/3/2020     – 10 weeks On 23/3/20 I was told with half a days notice today is the lastday I will be working with Frank Miller.On 23/24 asked for holiday pay in email so i had money over thelockdown because it seemed like things were getting crazy and I wanted tofinancially secure myself (you will soon see the irony).On 24/3 Received response from Extrastaff saying “yep, sorted it”.Sent email inquiring about Wage subsidy to Extrastaff on May 1st – No response                                                                        Sentagain           May 8th – Reply “Lookinginto it”Sent again           May 18th -Said I am struggling andreceived response in 10 minutes saying “Hey manWe applied for our guys who were working for us. Youresigned so we didn’t end up applying for youI would say go back to MSD and ask them for it to see ifyou can get it through them.Sorry I can’t be of more help”.This meant that the agency “Extrastaff” unregistered me as anemployee of theirs and so could not claim wage subsidy for me. They have takenmonths to reply to me with anything solid and only a few days ago told me thatthey could not get the wage subsidy for me. When i went in and spoke to themabout it on 20/5/20 they made it clear they cannot claim wage subsidy forspecific people after the fact.On 25/3/20 I had applied for Jobseeker support and was contacted by Winz overthe phone about it. I was told that I should not continue the process andshould follow up wage subsidy as the woman was sure I was eligible when Iexplained my circumstance and that it was put in place for people like me, shechecked with other people in her room that deal with wage subsidy stuff so Ihave taken her word for it and have pursued the wage subsidy up until now. When I called up Winz on 20/5/20 still trying to follow up onthe wage subsidy I was told that they now can’t guarantee I will be back paidover the lockdown period, and that I should apply for Jobseekers supportagain…. Talk about been kicked while your down, I continued trying to get wagesubsidy for this whole time off of their advice and now I am told I may not getback paid. Pretty stressful.Over the lockdown I received an email from Extrastaff addressed by name onApril 3 about Alert Level 4, Pay and employer obligations, and a statement thatread..“In our previous email to you last week we advisedyou that we had applied for the Government Wage Subsidy on your behalf. We havebeen working through individual Government Subsidy detail with management atThe Ministry of Social Development (MSD) over the past week.” Idid not receive an email before that saying they had applied for my wagesubsidy.I did receive more emails after that around April 20th though, asking about mycurrent situation and availability to work and hygiene and new protocols thatare now in place for working during lockdown. It was not clear to me I was nolonger employed with Extrastaff at that point in time, these emails alsoindicated otherwise. As you can see I have tried to do the right thing given the extreme situationby asking for my holiday pay after I lost my job directly due to coronavirus onthe same day lockdown was announced. Because I did this, I can’t get a wagesubsidy that I have been told I otherwise would have got. It seems like I’vefallen through a loophole in the law maybe.. ? I’ve spent nearly all my savingsand now to know I may not get back paid for Jobseeker Support means I may haveto move out of my home. Hopefully you can offer me some advice around this situation, I feel stuck betweena rock and a hard place with people that keep pointing the finger at eachother. I don’t feel like Extrastaff have wronged me at all but rather that thesituation is a new and tricky one. I have never needed help like this butrecent events have been difficult enough and I just want the support that Ihoped would be there for me..Any help would be so greatly appreciated,Ayrton C  Cell – 0212341152  Email –duffa44@gmail.com

      Category: People & Culture
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    • Andewsnz100

      Business Owner

      @andewsnz100

      Question submitted 20/05/20 @ 01:19pm

      Hi, I am a cafe owner in Hamilton. I bought the business 18 months ago by taking a loan on my house. I worked incredibly hard and have managed to pay back the loan in January 2020. However because I put all my profits into paying back the loan, I didnt have much additional capital spare when COVID hit. Plus a put in some new gear in January e.g. new coffee machine. During COVID I have had to pay rent, lease on EFTPOS machine, lease on coffee machine plus ensure I was paying staff enough to get to the 80% salary level for each staff member to get the Wage Subsidy. I have talked to my landlord and other suppliers to get holidays/reduction on my fixed monthly costs. All of them have said no. Therefore during Lockdown I had zero revenue and used up all my excess capital on the costs mentioned above. We have re-opened but business is only a fraction of pre-COVID. I am now getting close to the decision of closing my business. The bank wont loan money on my house as the business cant service it. I dont want to take the government small business loan as if I am honest the fundamentals of my business are not going to get back to a sustainable level. I plan to close the business. Does anybody have any ideas or comments. Thanks in advance.

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    • Lafouli

      Business Owner

      @lafouli

      Question submitted 14/05/20 @ 04:26pm

      Hi all,I became a licensee of a small event styling franchise a couple of months prior to lockdown. I’ve not received any helpful answers to the following questions and would love to get some advice as I don’t have spare $ for legal/accountancy council given I haven’t generated any income through the business during lockdown.I won’t be earning 60K or more for a few years or so, should I still register for a G.S.T number? What is the benefit of this?Do I register my business as a type of company and get an IRD number and NZBN number? Again, what are the pros and cons to this.How do I claim expenses, such as mileage, new vehicle, internet, rent offset? Is this best done by an accountant? Have I missed out doing so for this financial year? If so, can I take these expenses and claim them back next year?Tips on how to keep track of them all?Thanks so much!

      Category: Funding & Finance
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    • Sarahannett

      Business Owner

      @sarahannett

      Question submitted 07/05/20 @ 06:41am

      HelloI am self employed in the tourism industry.  I want to know are we still supposed to be doing end of financial year for tax purposes? I have tried to get in touch with my accountant but have had no luck 

      Category: Funding & Finance
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