June 20, 2023

April 2023 - Inside this issue

  • Glen Eden Easter Extravaganza
  • Xero Basics Training
  • End of Year Accounts Checklist
  • Increase in Xero Prices
  • Important Tax Dates

Glen Eden Easter Parade

We will be joining in the fun this Saturday at the Glen Eden Easter Extravaganza!

Easter Saturday
April 8th 10am - 2pm.

A fun-filled family day, with face painting, candy floss, amusement rides and a bouncy castle, Jiggles the Clown, live music, and an eggciting Easter Egg hunt for the children (prizes to be won include five Easter Hampers and a hollow chocolate Easter Egg for every participating child).

Tael will have their own stand there where we will be supporting Kidney Kids NZ charity. We want to raise their profile and awareness amongst the community and hopefully collect a donation or two for them.

It will be a truly eggcellent day and would love for you all to come and say hello!

Xero Basics Training

To continue our client training, we have decided to host another Xero online training Webinar.

We will be going back to basics with those who have started using Xero or need a refresher on the basics of the Xero system.  We will be looking at reconciling, Xero files and creating invoices and bills using your accounting software.

The training will be held online using Microsoft Teams, Wednesday 26th April at 10am. Training will last approximately an hour and a half.

Please register your interest to attend by clicking on the link below.

You will then be sent an online meeting link the week of the training.

Register here

End of Year Accounts Checklist

Each year we request your records so we can complete your year-end accounts and income tax returns. It's important to keep accurate and complete records. Accurate records will help us to complete your tax returns faster and avoid possible penalties for incorrect returns or underpaid taxes.

Included with your engagement letter, you will receive a checklist with the information that we require. For us to complete your accounts, it is imperative that we receive all the information requested.

If you're claiming expenses against your income, it is important sufficient records are kept as evidence to support your claims, e.g. receipts.

It is critical that you keep and file your information throughout the year, and records must be kept for 7 years.  There are options around keeping and holding your records they include:

  1. Using the Manual files that we have provided (Business, Home Office, Rental).
  2. Keeping your files electronically on a personal computer – ensure that they are safe and backed up regularly.
  3. Using the Files option in Xero and uploading receipts to transactions. This is simple and accessible to all clients using Xero software – the information is then kept safe and secure online, backed up and accessible to us at year end.

If you are not sure how to use Xero files, we are encouraging all our clients to book a checklist meeting before you drop off/send us your records. That way we can show you how best to collate your records to make it both easier for you and clearer for us.  

Please book in a checklist meeting by emailing info@taelsolutions.co.nz.

If you have a lot of personally paid expenses that are not recorded in your software, it is recommended that you complete a spreadsheet detailing these receipts to help us minimise the time taken to process these expenses and therefore the cost to you.

Note: Your records must be in English, unless the IRD gives approval to use another language.

Increase in Xero prices

From 15 March 2023 the monthly price of Cashbook plans has increased:

  • Non-GST Cashbook plans will increase by $1 - from $13+GST to $14+GST
  • GST Cashbook plans will increase by $2 - from $20+GST to $22+GST

Please be aware that your Xero invoice has increased to reflect the above increases.

If you have an Automatic Payment (AP) set up with your bank you will need to increase it to reflect the changes.

If you have not already increased your AP for April, please ensure you cover the payment shortfall.

Those on a Monthly Instalment Arrangement (MIA) will also need to check their AP is set up to the new 2024 MIA amount.

Important Tax Dates

The Tael 2023 Tax Calendars are available from our website to download or you can collect one from the office by appointment only. These have all the tax dates for the 2023 Calendar year.

Upcoming Tax Dates:

11 April - Terminal Tax for 2022 period (please note normally due on 7th April but extended due to public holiday)

7 May - Final instalment of 2023 Provisional Tax is due for payment.

28 August - First instalment of 2024 Provisional Tax is due for payment.

If you have any questions or concerns for us, please don’t hesitate to get in touch with us.



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Closeup of an IRD form with a calculator, a pen, and 3 small wooden blocks with the the letters TAX on each