NB Chartered Accountants

Here's one for anyone who's been wondering: if your turnover was at least $60,000 in the last 12 months, or you expect it to hit that in the next 12, IRD current rules says you need to register for GST.

Doesn't matter whether you're a sole trader, a company, or somewhere in between - the threshold's the same.

Sitting close to that number and not sure what it means for you? That's exactly the kind of question we love talking through over a coffee.

🏆 Big congratulations to our very own Georgia, whose netball team has qualified for Nationals! A huge achievement and thoroughly deserved. The whole NBCA team will be cheering you on in a few weeks time!

If you drive your own car, ute or van for work, IRD's kilometre rate lets you claim it without keeping every fuel receipt.

For the 2025–26 income year: $1.20/km for petrol, $1.30/km for diesel, 90c/km for petrol hybrid, and $1.22/km for electric - all for the first 14,000km your vehicle travels (business and private combined), with a lower rate kicking in after that.

You'll still need a logbook or similar record showing the date, purpose and distance of each business trip - but it beats sorting through a shoebox of fuel dockets.

Not sure if this method or claiming actual costs works out better for you? That's exactly the kind of thing worth running past us.

Quick fact to close out Money Month: as a sole trader, you and your business are legally the same person - meaning your personal assets aren't separated from business risk.

Set up as a company, and it becomes its own legal entity, separate from you.

Neither's automatically "better" - it depends on what you're doing, how you're growing, and what risk looks like for you.

If you're weighing it up, that's a conversation worth having before you register anything.

🏆 CHAMPIONS! 🏆

Massive congratulations to the Ashburton 2 Pennants team on claiming the 2026 Patterson Cup at Geraldine yesterday in the Aorangi Pennants competition!

What a way to finish the season — the final went right down to the wire, with a clutch putt on the very last hole sealing the win. Nerves of steel, boys! 💪⛳

A huge well done to Jordy the captain and the whole team for an outstanding effort all season long. We couldn't be prouder to be your sponsors alongside:
Vision Insurance
Harveys Bakehouse
Stephen Electrical and Contracting Limited

Bring on 2027! 👏

If you're on a two-monthly GST cycle, today's the deadline for your return and payment covering 1 June - 31 July. It's also the first provisional tax instalment date for the 2027 tax year, if you've got a standard 31 March balance date.

Filed already? Nice work. Still hunting for the paperwork? Give us a call before end of day - we'd rather help you file late than not at all.

03 307 0077

Calving's in full swing across Mid Canterbury right now, and we know the last thing on your mind at 5am is your GST return. Genuinely fine - that's what we're here for.

So here's our Question of the Week: is someone keeping an eye on your numbers while you're focused on the farm?

If the honest answer's "not really," let's have a chat before it turns into a scramble.

If your GST period ended 31 July, your return and payment are due 28 August - two Fridays away.

✓ Reconcile your accounting software
✓ Ensure bank statements match
✓ Account for any adjustments or asset purchases/sales

Getting these things in order now saves a mad scramble at the end of the month (for you and for us).

03 307 0077 | [email protected]

Cashflow forecasting is simply knowing what money is coming in, what's going out, and when.

It sounds basic - but most businesses that hit financial trouble aren't unprofitable, they just ran out of cash at the wrong moment.
At NB we help clients stay ahead of that.