Tax for Smaller Businesses

Tax rates, tax refunds, tax returns - small-business compliance can seem complex. Gain a working knowledge of tax compliance processes, know how to avoid penalties, how to keep records, and what to do for GST and PAYE in Tax for Smaller Businesses, a one-day MIT Business Course for SMEs.

An experienced industry professional will take you through the ins and outs of small-business tax compliance, including post-course follow-up support to ensure you’re on top of everything you need to be. Don’t let your business be tripped up by these simple but often-neglected issues.

Who should attend?
SME owner/managers, business managers or marketing managers in non-profits or larger organisations.

Outcomes:
At the end of this MIT Business Course you will:
- Have examined which business activities are liable for taxation
- Know how to categorise the records required for tax compliance
- Be more aware of the processes for determining liability for income tax, FBT and ACC levies
- Be aware of the processes for determining liability for Goods and Service Tax
- Be aware of the processes for collecting and paying employee taxes

Training style:
- Presented by industry expert
- Real-life case studies
- Group discussion
- Action planning for your business with in-class feedback
- Post-course follow-up

Core content:
Starting in Business
- What is a business?
- What taxes will apply?
- Getting an IRD number

Keeping Records
- Income and expenditure
- Assets and liabilities
- Depreciation

How Does Tax Work?
- Filing returns
- Paying tax
- Provisional tax
- First year in business
- Deductible expenses
- Penalties and Interest
- Fringe Benefit Tax
- ACC

GST
- When to register for GST
- Paying GST
- What records to keep
- Zero rated and exempt supplies
- Selling assets or ceasing business

Employing Staff
- Employee records
- PAYE and filing returns
- Kiwisaver

Phone 0800 SKILL UP (754 5587) or email businesstraining@manukau.ac.nz