Easter eggs are on the shelves and the air is feeling a little chillier, although it seems like only yesterday that we were basking in the sun on Christmas break. It's all go here at Tyler Price with the end of the financial year just around the corner. As always we are here to help and are keen for your feedback on how we can improve our service to you. We have a few bits of useful updates below, which can also be found on our website   http://www.tylerprice.co.nz/resources/blog . Also a wee reminder to check out our Client Profiles page and get in touch with us if you want you or your Company's profile included on our website.


Year End Reminders
By now you will have received your 2014 terminal tax notices. This   tax is due on the 7th of April . Don't forget that if you are sending a cheque, it must be received by the 7th so get it in the post now! You can no longer make payments at Westpac.

We'll be emailing out the tax notices for the 2015 final provisional tax instalment in mid April (payment due on the 7 ^th   of May).

If paying either of these taxes by the due date is not possible please get in touch with us as soon as you can so we can set up a payment arrangement for you. Provided this is in place before the due date, you will only incur a 1% penalty plus interest. Delaying the process will result in big, unnecessary penalties!

For those of you who are GST registered, GST returns for period end 31 ^st   of March are also   due on the 7th of May . Be aware that this is our busiest time of the year so please get your information to us as soon as you can to ensure we can meet the deadline.


Additional requirements for 31 ^st   of March:

Find it hard to pay GST on time?
Although we are all aware that the GST we receive on our income is not ours to keep, many of us still find it very difficult to find the cash when the dreaded GST due date comes around. We are often asked by desperate clients if they can hand over the GST to Inland Revenue as they receive it. The answer is yes! Inland Revenue is always happy to receive money: you don't have to wait until the due date. By paying as you go, you will probably end up with a refund, which   will   be yours to keep!


MYOB Essentials
We've noticed that many of you are moving to MYOB Essentials as it represents better value than its competitors. Please note that if you are signing up for the software you will receive a 10% discount on the monthly charge if you let them know that you are a Tyler Price client.


Interactive Questionnaire on Website
Historically we have sent you a client questionnaire for you to complete before we begin work on your accounts. This year, we have moved with the times and have uploaded an interactive version on our website  http://www.tylerprice.co.nz/our_services/questionnaire .Just download and save to your desktop, then fill in the form and send it back to us with your records.


Working For Families Tax Credits
We often learn of important changes in your personal lives (such as the birth of a child) some time after the event. Please note that sometimes these changes will impact on your entitlements (for example, working for families tax credits). So please ensure that you let us know when your circumstances change – even if you don't think it will impact your tax – to ensure we are giving you the best advice.

FYI, you may be entitled to working for families tax credits if your family income is below the following thresholds:

Please get in touch with us if you meet these criteria and are not currently receiving working for families.


Inland Revenue will not be issuing Refund Cheques.
Inland Revenue has advised that they no longer want to issue refunds in the form of cheques. There is uncertainty as to whether this is to reduce administration costs or as a way to obtain the bank account details of all taxpayers (which then can not only be used for gaining information but also to retrieve unpaid tax!) Understandably, we prefer not giving your bank account numbers to them. So, we now have a Tyler Price Trust Account into which, with your permission, your tax refunds can be deposited and then transferred by us, into your designated bank account. If you are due a refund you will be asked for authorisation to have it deposited into our Trust Account.


Have you ever lived and worked overseas? Do you have a foreign Pension?
If you have lived and worked overseas and still have a pot of gold on foreign soil you may wish to consider moving it here as the longer it is left, the more it will be taxed when you do bring it back to NZ. If this applies to you, give us a call and we can discuss your options.


Credit Cards
We are aware that many of you maximise your credit card use in order to earn Air New Zealand air points. In case it has escaped your notice, after many years of association, Air New Zealand is leaving the BNZ and partnering with Westpac. If those air points are important to you, you may wish to consider doing the same!

For those of you on BankLink, choose the Business Mastercard for your business transactions; it gives you the same airpoints and status points as the Platinum Card but it's the only one that BankLink accepts. Please let us know when you've made the change so we can get your new card loaded onto BankLink straight away.

And on the subject of credit cards, we are pleased to advise that we now accept credit card payments as an option for paying your accountancy fees. However, these payments are subject to an additional 3% transaction fee. If this is of interest to you, give us a call. And note that if you pay your fees before the 31 ^st   of March, you can include them in your March 2015 GST and income tax returns.


New Health and Safety requirements…Will this affect you?
Just a reminder that from the 1stof April 2015 there will be a new Health and Safety at Work Act, replacing the Health and Safety in Employment Act 1992. Business owners (regardless of how small) and company directors need to get their work place safety procedures and processes documented and complied with, to reduce the risk of severe penalties. We are now the proud owners of an ACC approved Health and Safety Manual, which we are confident will not only help us avoid the new penalties but is now giving us a discount on our ACC levies. If you would like our assistance in doing the same, please let us know.


Company removal from the Companies Office register
In the past, the Companies Office would automatically remove companies from the register when the Annual Return was not filed by a particular date. Sadly, this is no longer the case. If you no longer want your Company to exist we will need to go through the short form removal process. This will incur a cost of approximately $300. Give us a call to discuss if this applies to you. You will continue to receive reminders to file your company annual return until it is struck off.


Overseas Directors
And another change from Companies Office: From the 1 ^st   of October the Companies Office will require at least one Director of every company to live in New Zealand. If you are a Director of a Company living overseas and we have not contacted you please get in contact with one of us to discuss your options.


Thank you for taking the time to read our newsletter. If you have any questions or need further information please do not hesitate to pop in to our Grey Lynn office or give us a call. We look forward to hearing from you.