It is an employer’s responsibility to take reasonable practicable steps to ensure that employees have a safe and healthy work environment.
Read MoreRetiring as a trustee is not as simple as it sounds and there are a number of potential liabilities that need to be covered off. It’s not widely known that when accepting appointment as trustee, you are taking on a number of personal obligations and accountabilities.
Read MoreCyber Security continues to be a top concern of clients given the recent high-profile Ransomware attacks and data breaches. There is almost always more you can do to reduce the likelihood or impact of an attack on your business.
Read MoreMany employers are willing to put in place flexible working arrangements so that staff can remain in the workforce but meet their other life responsibilities or plans. Usually this is just done by discussion and agreement on what will work best for both the employee and employer. If you cannot reach agreement then employees have the right to request flexible working arrangements under the Employment Relations Act. Employees can seek to vary their hours of work, days of work, or their place of work (e.g. an employee can request that they be allowed to work from home).
Read MoreWhen the court makes a decision that an individual or business is owed a debt, it issues a judgment order telling the debtor that they must pay the creditor.
However, often creditors are left wondering what happens if the debtor doesn’t pay. Find out how the court can assist you in recovering an undisputed civil debt.
Read MoreOn 19 October, Winston Peters and New Zealand First announced their decision to form a new government with Labour and the Greens.
New Zealand’s employment law landscape is now set to change and employers need to be ready to adapt.
Read MoreEffective for reporting periods beginning on or after 1 Jan 2018 - This new accounting standard establishes principles to be applied in reporting information about the nature, amount, timing anduncertainty of revenue and cash flows arising from a contract with a customer. a gap in the market, a need that you can satisfy better than others?
Read MoreFrom 1 April 2017, all ESS benefits relating to your New Zealand employees must be disclosed as part of the Employer Monthly Schedule (“EMS”). Employers will also have the option to withhold PAYE on ESS benefits on behalf of their employees.
Read MoreYou may check your financial information monthly but are you doing enough? Do you create a cash flow chart? And have you established the cash flow goals for your business, both long and short term?
Read MoreWe will examine further the effect of debtors on cash flows, payments to creditors, increasing sales and reducing costs and getting quick cash.
Read MoreWe now take a look at:
how to budget and forecast
how to manage cash reserves
how to manage petty cash
Simply by adjusting the price of your service or products, you could end up with substantially more profits. Wouldn’t that be worth exploring?
Read MorePublic holiday, bereavement and sick leave and alternative holiday payments are calculated using relevant daily pay or average daily pay (if applicable). Annual holidays are calculated differently.
ADP is a daily average of the employee’s gross earnings over the past 52 weeks. This is worked out by:
adding up the employee’s gross earnings for the period, and
dividing this by the number of whole or part days the employee either worked or was on paid leave or holidays during that period.
In this article we discuss significant costs which can have a large impact on your bottom line.
Read MoreRelevant daily pay (RDP) is the pay that an employee would have earned for working on that day.
RDP includes:
payments such as regular (taxable) allowances, commission and bonuses that would have received by the employee on the relevant day
overtime pay, if the employee would have received this on the relevant day
the cash value of board or lodgings if this is provided by the employer.
Public holiday, bereavement and sick leave and alternative holiday payments are calculated using relevant daily pay or average daily pay (if applicable). Annual holidays are calculated differently.
ADP is a daily average of the employee’s gross earnings over the past 52 weeks. This is worked out by:
adding up the employee’s gross earnings for the period, and
dividing this by the number of whole or part days the employee either worked or was on paid leave or holidays during that period.
Employees are entitled to a minimum of 4 weeks pay for every 12 months of service. A week's Holiday Pay for annual leave is the greater of:
The average weekly earnings; and
The current ordinary weekly pay at the time the leave is taken.
Unless you have software that will do this for you, these calculations need to be done every time an employee takes annual leave.
Read MoreStatistics show that up to 80% of business failures could have been avoided if they had developed and used a proper business plan. Research also shows that businesses that properly plan are significantly more likely to be more profitable and to achieve greater growth.
Read MoreRunning a business without a plan is like going on a trip without a map, sufficient gas, money, or even a destination. Just as you wouldn't go on a vacation without some planning, no business can be successful without it.
Read MoreThis is the final in our 3 part series on business plans. In Part 1 we examined the need for a business plan and listed the business plan core components. In part 2 we examined in detail the components of the plan. In this issue we review how all these components can be brought together to provide a practical framework for your business.
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