Shall I Buy Some Assets to Reduce My Tax Bill?

Assets over $500 are capitalised and depreciated. The amount of the depreciation on the asset is all that reduces your taxable profit.

A lot of people get caught out with this and buy a large capital item thinking it will reduce their tax. All it does is reduce their cash-flow and make money tight for a while.

You should always check your cash-flow before making any large purchases or business decisions. Having your financial information up to date allows you to make informed decisions based on fact not on gut feelings.

If you need affordable expertise to take the devil out of your admin and bookkeeping, please get in touch with us for a free no obligation chat about your business.  We can give you freedom and peace of mind.

Kim Manunui

Hi, I’m Kim and I work with a great team to help individuals, as well as small and not so small businesses get their message, product and services to the world using digital media and creating wonderful websites that don’t cost the earth.

I was born in Canada, and grew up around Vancouver and the mountains of British Columbia. My love of pristine environments led me to New Zealand and eventually to the mountains, lakes and rivers of the central North Island which is home. My family’s heritage is here, and it’s from here that Korio traverses the planet.

The digital world is never static and neither are we.

And I say ‘we’ because I work with an awesome group of talented people who I gather together as required to complete a project.  Whatever your business, not-for-profit or individual needs are we gather the best team to get the job done.

Collaboratively we are creative, share sustainable values and work hard for great outcomes because that’s the buzz of satisfaction that drives us.

If you have an audience and market to reach, we can make that happen. Creative design, words that work and smart behind the scenes stuff that cuts through the online noise. We’ll design your website and then build it. We’ll manage the content as well as all your hosting needs. We can handle your online advertising so you get noticed,
and we’ll manage your social media presence so you get the clicks, likes and engagement to grow your business. All within the budget you set, because none of this needs to cost the earth.  And the job doesn’t stop when your website goes live. We are your virtual business partner.

https://www.korio.co.nz
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Drawings - Will This Affect My Tax?

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Changes to Calculating Motor Vehicle Expenses