Bennetts Proactive Accountants

A healthy bank balance doesn’t always mean your cashflow is in a healthy position.

Some of that money may already be spoken for, from GST and provisional tax to wages, suppliers and loan repayments.

Cashflow pressure often builds quietly when those commitments aren’t clearly visible, records fall behind or decisions are made based on the bank balance alone.

Our latest article looks at some of the early warning signs and the small financial habits that can help you stay one step ahead.

Read the article → https://www.bennettsproactive.co.nz/blog/cashflow-problems

A warm welcome to Melody Henshaw, who joined the Bennetts Proactive team as an Accounting Specialist earlier this year.

After two years working at an accounting firm in Wellington, Melody has returned to the Bay of Plenty and is looking forward to continuing to grow her accounting knowledge and experience as part of our team.

Outside the office, you’ll find Melody swimming at the beach, dancing or spending time with family.

It’s great to have you with us, Melody.

Inland Revenue has increased its compliance focus on the horticulture sector.

Revenue Alert RA 26/02 identifies several areas receiving closer attention, including withholding tax on cultivation contract work, labour-supply arrangements, invoicing and cash payments.

Growers, contractors and subcontractors may also see increased scrutiny of GST registrations, certificates of exemption, tailored tax rates and outstanding tax debt.

The Alert does not mean all horticulture businesses or contracting arrangements are of concern. However, it is a timely reminder to make sure your contractor documentation and supporting records are current and readily available.

We’ve summarised what horticulture businesses need to know, including a reminder of the schedular payment rules.

Read the full update:

Inland Revenue increases its focus on the horticulture sector | Bennetts Proactive Accounting & Business Advisory Inland Revenue has increased its compliance focus on the horticulture sector. We look at what Revenue Alert RA 26/02 means for growers, contractors and subcontractors, including key reminders around withholding tax, schedular payments and contractor documentation.

New Zealand's Employment Leave Bill has now passed its final reading and will replace the Holidays Act 2003. Key changes include:

📌 Annual and sick leave accruing from an
employee's first day of work

📌 Leave being calculated in hours in direct proportion to standard hours

📌 Use of a single hourly rate for paying leave, across all leave types

📌 Mandatory pay statements that itemise pay and leave

📌 Greater flexibility to cash up annual leave

📌 Removal of parental leave annual leave payment penalty

The legislation includes a 24-month transition period for businesses and payroll providers.

Worth a read for employers, business owners, payroll teams, and employees looking to understand the upcoming changes.

Major changes to annual and sick leave: What you need to know Brooke van Velden said the new bill replaces the 'broken' Holidays Act.

Celebrating the people who helped build Te Puke 🥳

Businesses do more than contribute to the local economy. They create opportunities, strengthen communities and leave a legacy for future generations.

That's why we were proud to be the Principal Sponsor of the launch of the Te Puke Business Excellence Awards Hall of Fame, with Amanda and Maria attending the opening evening on behalf of Bennetts Proactive.

The Hall of Fame is a permanent recognition of the businesses and individuals who have helped shape Te Puke, while the Business Immortals honour those whose impact has left a lasting mark on our community.

Congratulations to the Te Puke Economic Development Group on bringing this initiative to life. It's a meaningful way to recognise the people behind Te Puke's success and preserve their stories for future generations.

We're proud to support an initiative that celebrates the businesses, leaders and innovators who have helped our community thrive.

Last week, we brought together our team, clients, and community to mark a significant moment in the Bennetts Proactive journey.

A highlight of the evening was recognising Lance and the incredible contribution he has made to the firm over many years. His leadership, commitment, and deep connection to the local community have helped shape Bennetts Proactive Accountants into what it is today.

We also proudly celebrated the appointment of Maria and Amanda as Directors, marking the next chapter in the firm’s leadership.

It was a great evening of connection, reflection, and looking ahead.

Thank you to everyone who joined us to celebrate.

31 March is creeping up 👀

If you have a 31 March balance date, now’s the time to:

✔ Review bad debts
✔ Issue credit notes
✔ Confirm stock and WIP
✔ Reconcile cash and floats

A few small steps now can make year end a whole lot smoother.
We’ve pulled together a simple checklist to help you stay on track.

Have a read, and if you’re unsure about anything, send us a message or give us a call. We’re here to help.

https://www.bennettsproactive.co.nz/blog/end-of-year-tax-planning-2026

KiwiSaver update 📢

From 1 April, the default contribution rate for both employees and employers, increases from 3% to 3.5%.

Most payroll systems will adjust automatically, but it’s still important to:

✔ Check your payroll settings
✔ Communicate the change clearly with your team
✔ Review whether your own contribution rate still suits your goals

We’ve outlined what this change means for both employers and employees in our latest blog. Take a read here: https://www.bennettsproactive.co.nz/blog/kiwisaver-contribution-increase-coming-are-you-prepared

Thinking about buying or selling property or land? 🏡

Before you sign that Sale and Purchase Agreement, make sure you’ve considered:

✔ Tax implications
✔ Ownership structure
✔ Cashflow reality
✔ GST
✔ Your long-term exit plan

Read the article: https://www.bennettsproactive.co.nz/blog/sale-and-purchase-agreement

A huge thank you to our clients, Neil and Heather Casey from Ngaupari Orchard Limited, for having our team out at their orchard last week. It was a great opportunity for our team to gain an insight into the day-to-day operation of an orchard like theirs.