Join the New Henderson Lincoln Metro Business Association

In a bid to reverse concerns over security and rising crime in the area, The Henderson Lincoln Metro Business Association was created last month when 15 business owners pledged support and funding to get the organisation up and running.  In addition to being the only metropolitan centre in Auckland without a business association, Henderson has experienced a spate of crimes which business owners believe have negatively impacted the local economy.

Tim cropped headshot 2UHY Haines Norton Director Tim Livingstone (pictured right) believes the Association will be of great benefit to the area, stating “Henderson is going through a catch up process.  Having a business association is a lot more powerful than individuals trying to do something.  Security issues are often the catalyst for forming something such as a business association.”

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Going Off-line to Build Client Relationships

Consulting_Business ImprovementUHY Haines Norton Business Improvement Manager Michael Jamieson considers the benefits in bucking the trend of online client interaction in light of developing face-to-face client relationships.

Use of the internet and social media has become an increasingly central marketing tool for business.  From the smallest sole trader to the largest corporation, most organisations now have websites and regularly use of a combination of Facebook, Twitter, LinkedIn and other various social media applications.

The question I ask is “how do we truly differentiate ourselves from our competition?”  Whenever we Google a particular industry we are swamped with choice.  Even attempts to narrow the search to a particular region or specialty will still give us an overwhelming number of options.

Technology advances now equip even the smallest business with a sophisticated website and related social media platforms.  The internet has become a low cost platform that all organisations can use to promote their products and services.  Naturally all businesses will use optimised wording and images to cast themselves in the best possible light and achieve favourable search engine results.

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Upcoming Events: Westie Wednesday 2014

Every year Foundation for Youth Development (FYD) Auckland is helping thousands of children and young people in West Auckland to discover possibility, transform lives, and reach their potential. Through proven and acclaimed programmes Kiwi Can, Project K and Stars, FYD is able to help build self-esteem, promote good values and teach valuable life, education and health…

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Beware Tax Pitfalls Of Apartments

Grant Profile PicUHY Haines Norton’s Managing Director Grant Brownlee outlines some of the tax pitfalls to be aware of concerning apartments.

Buying a serviced apartment may be seen as an attractive investment option, particularly if you have children planning to attend University in the future and you don’t fancy the idea of paying rent for their accommodation away from home.

However, serviced apartments have the potential to hit you very hard with unexpected GST and income tax bills all as a result of innocent changes in your family circumstances.

Let’s say you purchased your serviced apartment from a GST-registered party and the apartment had a management lease in place.  The apartment was being managed as short term stay accommodation and you purchased it as a ‘going concern’ so the transaction was ‘zero rated’ for GST.  In other words, you paid no GST on the purchase.  To achieve this ‘zero GST’ result you were required to become registered for GST.  Every month the management company pays you rent net of GST, management fees and other expenses.  Everything is rosy.

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How Much Is My Business Worth?

Forensic Accounting_Valuations_LitigationUHY Director Tim Livingstone addresses a frequently asked question concerning business valuations.

A question we regularly receive from both clients and non-clients is on the value of their business.  The value of a business gets down to what the business has to sell.  Most SME (small-to medium-sized) businesses will be selling two types of assets: tangible and intangible.

The tangible assets normally include stock and fixed assets.  Intangible assets represent the non-physical items a business owns that generate income and provide a competitive advantage.  Some intangible assets can be legally transferred to a purchaser such as a franchise, lease or patent.  Others cannot and include a trained work force and key customer relationships.

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