CST Nexia Newsletter Autumn 2006
Take a peep inside! Our latest newsletter has a little something for everyone, as well as keeping you up to date with what's happening at CST Nexia, Manukau City's leading firm of Chartered Accountants.
- 3rd annual CST Nexia Corporate Triathlon - and the winner is...
- Staff Moves - New partner announced
- Need-to-know tax facts
- Baby Boomers are selling up!
- Opportunities at CST Nexia
CST Nexia Third Annual Corporate Triathlon
It might be over for another year, but the CST Nexia Corporate Triathlon experienced its best year yet with an unprecedented number of entrants for the event. Although Sunday the 12th of March dawned windy and grey, the weather did little to dampen the spirits of the record strong field nor the many well-wishers and spectators that came down to watch and cheer from the sidelines at its new home of the Pakuranga Sailing Club.
Close to 220 entrants signed up for the 400m swim, 15 cycle and 4km walk/ run but it was our sponsored athlete, Clinton Thomas , who won for a second year in a row. Ford New Zealand took out the top spot in the corporate section in front of a record number of corporate entrants from a broad range of industries including the accounting, financial services & banking, marketing & design, IT, architecture and construction fields.
To read more, click here.
Staff Moves
New Partner Annouced
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We are very proud to announce the appointment of Dean Stevens to partner effective from the 1st of April 2006. Dean joined CST Nexia as an Associate in August 2003 where he began developing his own portfolio of clients and was involved in a significant range of project and consulting work, as well as general accounting and tax compliance. Dean’s broad commercial and public accounting background, garnered from a variety of positions over the years, provide a welcome addition to the firm’s complement of professional resources and expertise. Well done Dean! |
Need-to-know Tax Facts
Mileage Rates
Up until recently the rates for reimbursing your staff’s business related mileage were restricted to the IRD mileage rates, commonly 62c per km. The IRD has now acknowledged the increase in motoring costs - primarily due to petrol prices, and will now allow the use of rates from other organizations such as the New Zealand Automobile Association. These rates distinguish between different CC ratings of vehicles but generally are substantially higher than the previous IRD rates. You can obtain these rates directly from the AA. If you are a member you can obtain the rates for free, otherwise a small charge applies. You may now wish to consider the use of these rates. You can access this information via their website www.nzaa.co.nz then Motoring > Tech & Legal Advice > Car Running costs.
Click here for more need-to-know tax facts.
Baby Boomers are Selling Up!
The secrets of preparing your business for sale, by Robert Willis - Partner
Baby boomers, that group of people born between 1946 and 1964 and today typically aged between 41 and 59, are becoming very active in cashing in on their life’s work, often selling their businesses to take early retirement. Some of these businesses are worth a fortune, and for every business up for sale by a retiring baby boomer, we estimate there are 2-4 others who are waiting to snap them up.
It has been said that the reason you start a business is to sell it, so preparing a business for sale is therefore critically important to achieve the best sale value for its owners. However the process of planning for sale in usually quite involved, and it is essential that it is thought through carefully to present the business for sale in the best light.
To read more, click here.
Opportunities at CST Nexia
Staff on Secondment
Secondment opportunities have grown over the past few years and our staff have taken part in three-month secondments to our Australian Nexia partner, Nexia Court & Co, as well as further a field in the United States. Two of our Seniors have had secondments to both New York and Florida which they found enjoyable, hard work and a unique opportunity to experience working life in a fast-paced culture. We have also recently sent two further Senior Business Services Accountants to our San Francisco Nexia office.
To read more, click here.
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