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Paul Martin Chartered Accountant Ltd :: Accounting, Taxation and Business Advisory :: Auckland, New Zealand
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Reasons Why You Should Start A Business Today

Paul Martin • February 5, 2017

starting a businessThe year is just starting and there are many things you could do this year that could change your life - like perhaps starting a business.

Starting a business can be overwhelming. But the rewards are great once you know how to handle the responsibility and get the business planning right. To get you excited and inspired to start a new venture, here are some of the reasons you may decide to start a business this year.

1. Monetary success

The main reason why people launch their own business is to make money! A successful business should provide financial stability. You can earn a very decent income if you get things right. However, many established and experienced business owners would say that money should not be the sole purpose for starting a business. If it is you may end up failing.

As business advisors , we always recommend to our clients that they should focus on providing quality services and products. Quality services and products are very important to creating a successful business. Once you have this foundation, monetary success will surely follow.

2. Change in lifestyle

Many aspiring business owners come from being ordinary employees. As an employee your lifestyle is more limited. Launching your own business can create a positive change in your lifestyle and give you more independence. You own your time and you can choose when and how to work.

3. You are the boss

Being a boss of your own company is a dream come true. You can make decisions about your business without someone telling you what to do. The profit is also yours. You have the money, the time, and the liberty to more or less do whatever you want, for as long as your business is operating smoothly.

4. Making a difference

When you start a business you are creating opportunities, not only for yourself, but also for other people.

Many entrepreneurs launched their business for the sole purpose of helping other people or society in general. Even though they may earn a lower income, the feeling of helping others gives them that ultimate satisfaction. This is where most business owners succeed.

5. Self-fulfillment

One of the many satisfying things in the world is having a successful business. It is a symbol of good social status and a stable financial life.

If you are thinking of starting a business but don't know where to start, as trusted business advisors and chartered accountants in Auckland we can help you with the process.

We offer a wide variety of business consultancy and accounting services - from business strategy and planning as well as small business accounting services like annual accounts, tax returns, GST and more. We also use the best accounting software in NZ to provide you accurate and timely financial reports.

Talk to our experts on (09) 576 4166 or request an online appointment today.

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How the new Government and coalition agreements might affect owners of residential rental properties

By Paul Martin • December 4, 2023
There were some key takeouts of interest to many of our clients from the recently signed coalition agreements between National, ACT and New Zealand First and the formation of the new Government. In particular there are a number of policies which will likely benefit landlord clients who own residential rentals. I have summarised some of these below. 1. Return of Interest deductibility for residential rental properties Interest deductibility for residential rental property owners will return. It will be phased back in over three tax years: • 2023/24 tax year: 60% of interest cost will be deductible. • 2024/25 tax year: 80% of interest cost will be deductible. • 2025/26 tax year: 100% of interest cost will be deductible. 2. Reduction in bright-line period National signalled in their pre-election campaign that the bright-line period for residential rental property sales would reduce from 10-years to 2-years. While the exact implementation of this policy is not yet known, it is good news on the horizon for residential property investors. 3. Reinstatement of 90-day no-cause termination notices The new government will reinstate 90-day no-cause tenancy termination notices. This will avoid many unnecessary disputes in the Tenancy Tribunal and gives landlords more confidence in letting to possibly “marginal tenants". Many landlords have avoided what they considered to be risky tenants because eviction for anti-social behaviour was so difficult. With this reinstatement, landlords might be more inclined to give a marginal tenant a chance because they know that if the tenant misbehaves, they won’t be stuck with them. If you would like more information on how these changes might affect your personal circumstances, please feel free to contact us to discuss further.
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