Setting up a business can be a daunting task, filled with a lot of unknowns. This was certainly the case for husband and wife team Steve and Angela Bevan, owners of award winning irrigation business; Think Water New Plymouth.
We have had a lot of success in reducing interest costs and penalties by using tax pooling and tax deposits. There are upcoming changes to the provisional tax regime which will reduce many individuals and trusts exposure to interest. These changes are set to take place from 1 April 2017.
Owning and operating a business is fun, but also stressful. The stress arises when you begin to question whether you are making the right decisions. Look out for the signs that your business could be heading for trouble.
The recent closure of electronics retailer, Dick Smith, leading to around $400 million of debt being owed, poses many questions about how to protect yourself as a creditor and what to do next if you are unfortunate enough to be in this situation.