PKF International
PKF Poutsma Lemon Limited
PKF Poutsma Lemon Ltd, Keri Keri, New Zealand
Accountants and business advisers

Holidays and Annual Leave

 

Image result for christmas holidays nz

With Christmas just around the corner – So too are the challenges businesses often face around holidays and annual leave. It can be a very daunting and confusing time for employers.

Here's a handful of top to help your business do things right leading into Christmas… And beyond!

  • If you're closing down during the holiday season, you must give your staff at least 14 days notice when informing them about the closure.
  • Leave entitlements generally apply after one year's service, so if someone has less than one year's service, they may need to make arrangements with you (e.g. take leave in advance or without pay).
  • Accrued leave can be very costly for your business. Employees are legally entitled to cash up one week's leave each year. That means your business has to pay this out.
  • It's really important to keep accurate leave records – All the time. Everyone must have a written employment contract or agreement.
  • Holiday leave entitlements keep accruing during paid parental leave, 90 day trials and suspensions or investigations.

If you are unsure about holiday entitlements, contact our office and speak to one of our knowledgeable staff members.

 

Sourced from: Auckland Chamber of Commerce.

ACC Business Update


Investing in New Zealanders - ACC Annual Report 2017

ACC remains in a strong financial position to cover the cost of injuries now and in the future. The last year saw ACC:

  • Accept 1.95 million new claims, up 0.9%.
  • $3.7 billion paid in claims
  • Cost per claim rose 3.5%, an increase of $200 million paid in claims.

Further information on ACC's performance can be found here.

 

Changes to your Business

If your business activity changes, e.g. a change in the products/ services your company offers, buying or merging another business, then your classification unit may change. Changes in your classification units may affect how much your company pays in levies.

 

Safe Plus

Worksafe NZ has launched free resources and guidance on the Safe Plus toolkit. Safe Plus is a new voluntary H&S performance toolkit for NZ businesses. The accreditation process for onsite assessments which includes a guide for businesses has also been published.

 

ACC Workplace H & S Incentives

ACC is taking a new approach to help NZ businesses create healthy and safer workplaces. Key insights from businesses with supporting video and documents can be viewed here. Do these insights reflect your experience? ACC is still open to feedback and want your comments!

 

Live Stronger for Longer - Prevent Falls & Fractures

ACC is working with partners in the health and community sector to help older people stay independent and avoid trips and falls.

Falls and fracture prevention programmes are available throughout New Zealand. Find out what's happening in your local community: Live stronger for longer – staying free from falls.

 

ACC Resources and Web Sites:

Workplace H&S

Tax Agents & Advisors

CoverPlus Extra Application

Drive

RugbySmart

Injury Management Assistance


 

Tertiary Education Fees Free


On 5 December 2017, the Minister of Education, the Hon Chris Hipkins, announced that next year, around 80,000 people will be eligible for fees-free post-school training and education. He said this comes on top of the recent announcement of $50 increases in student allowances and student loans weekly living costs limits, which will make more than 130,000 students $50 a week better off.

The Government has budgeted for a 3% increase in equivalent full-time students in 2018, equating to about 2,000 extra students. The Government has budgeted for up to $380 million in the current financial year across the fees-free policy and the $50 increases to student loans and allowances. Of about 80,000 eligible students, estimates are that about 50,000 will train or study at a polytechnic, as industry trainees, at a wananga or a PTE. The remainder will study at university.

The Minister said that Tertiary Education Commission (TEC) will be responsible for implementing the fees-free policy. Further information for tertiary education providers and industry training organisations is available on the TEC's website - www.tec.govt.nz.

To summarise, from 1 January 2018, eligible learners will be able to access either their first year of tertiary study, or their first two years of industry-based training fees free.

To be eligible for fees-free funding, the course or industry training programme must:

• start in 2018

• be funded by TEC

• be recognised by the New Zealand Qualifications Authority

• at Level 3 or above on the New Zealand Qualifications Framework, and

• or industry training only, be at least 120 credits.

For information on how learners can find out if they are eligible go to the fees-free website www.feesfree.govt.nz. A dedicated helpline, 0800 687 775 is also available.

Source: www.beehive.govt.nz

Tips on KiwiSaver and retirement planning if you are aged 55+