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Kendons Blog

Kendons March 2020 update


Welcome to our update for March 2020

In this issue:

  • Director Grant Duthie is retiring
  • Internal systems change
  • Paying your tax bill by cheque?
  • Introducing Biz Easy

Director Grant Duthie is retiring

It is with warm wishes that we announce the retirement of Grant Duthie - Director of Kendons as at 09 April 2020. Grant joined Kendons in 2006 bringing with him an extensive business advisory and corporate finance experience across all stages of the business development cycle and has worked with a wide range of industries. Grant has been a Director and a valued team member at Kendons and will be missed by us all. He is moving away from Christchurch to Central Otago and will enjoy the many wonders that the province offers such as photography, golfing, biking and wine.


The team here at Kendons wish Grant a very happy retirement.

Internal systems change 

The team at Kendons will go through an internal systems change in April. While this doesn't directly affect our clients we ask that you bare with us while we go through this change. You may see a few small changes about the way we present some information so please contact us if you have any questions.

Paying your tax bill by cheque?

As of 01 March 2020, cheques will no longer be accepted by the IRD. They will no longer be sending payment reminders in paper form for tax due dates also.


If we normally send your tax letters by post, we encourage you to update your email address with us as soon as possible so you don't miss a payment. Call us today to make sure you're sorted!


Introducing Biz Easy

Trying to run your business but drowning in admin? We've developed Biz Easy to simplify and automate the process. We'll review your admin and accounting systems, then use Xero and Hubdoc to streamline them and free up time so you can focus on what's important.


Find out more here and save hours a week!



Do you know how to identify a phishing email? The tell-tale signs of an online scam?

In recent years, cybercrime has become increasingly sophisticated and successful. New Zealanders lost $33 million to online scams and fraud in 2018 - triple the amount that was stolen in 2017.  

We have attended several seminars recently about cybersecurity and we wish to pass on some of the key learnings as a reminder to our clients. 

Be aware of scammers
It is important to be aware of how scammers look for a way in. It might be via hacked email accounts, which are then used to send out fraudulent invoices that look just like the real thing, but with a fraudulent payment bank account number. Or through a phishing email, to gain access to information like usernames and passwords, credit card details, and bank account numbers. These sophisticated scams may even send a bogus invoice email containing links and attachments that deliver malicious software to your computer, such as ransomware, password stealers, or remote access tools (RATs) to take control of your desktop. 

Another scam to be aware of is that of account takeovers, where businesses have sensitive customer information stolen because their system is accessed following the theft of their login credentials (username and password). This information is sometimes obtained by hackers using phishing, malware or taking login credentials stolen from one website and testing them against other websites to see if they work there too. This is called 'credentials stuffing'. 

The following are some informative tips worth sharing from a BNZ seminar. 

How to detect online fraud
Common signs that could help you identify an online scam:

  • You receive an email from a bank you don't bank with.
  • You are asked to provide your personal information via an email or on a website.
  • You are asked to provide your confidential bank information, such as your credit card number, PIN, and expiry date.
  • The text of the email or message is full of grammar and spelling mistakes.
  • You receive an unexpected email from someone you don't know, or from a reputable company using a public service domain, such as Hotmail or Gmail.
  • You are asked to send money through untraceable agencies.
  • The deal(s) are too good to be true and/or the sender gives promise of money for little or no effort.
  • The story and/or deal(s) doesn't 'add' up or make sense.
  • You are told you have won a competition that you never entered.
  • You get a quick response to your reply, and they answer questions you never asked.
  • Urgent requests: Any kind of urgency, request for personal information, or mention of unexpected financial payments
  • Unusual behaviours: You receive emails from a person you know, but they're asking for financial payments. 

Advice for staying safe online
Here are some simple, easy-to-implement tips for better protection:

  • Always use strong, unique passwords for each site or service you log in to, and never share passwords. Having a unique password helps prevent a compromise of one login becoming a compromise of many. Password-safe software can help you manage your multiple logins.
  • Use two-factor or multi-factor authentication wherever this is available. This is particularly important for your email account, which is usually the means to reset your passwords for other sites.
  • Update anti-malware (anti-virus, anti-spyware) software. It is one of the easiest and most effective things you can do to protect yourself.
  • Keep all of your software up to date with security patches.
  • Make sure your data is backed up regularly, and backup copies are kept separate to the source systems.
  • If you receive emails from a person you know, but they're asking for financial payments, always call that person first to verify that the email is from them. 

Want to find out how scam savvy you are?
BNZ has a digital tool available so you can test yourself. You can also learn more tips and tricks to keep safe online, on your mobile and of any recent scam trends to watch out for. Check out the link below!

Get Scam Savvy

** We are a Finalist **

We are very proud to announce we have been selected as a finalist for
 Xero's NZ Advisory Partner of the Year 2019!

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"The Xero Awards recognise excellence among our accounting, bookkeeping and ecosystem partners. These annual awards celebrate the role of our partners in helping small businesses thrive in New Zealand."

 - Xero, 2019

But what does that really mean and why were we nominated?

Xero base their selection on our efforts to make a difference in the lives of our clients via:

  • Providing proactive business advisory services 
  • Leveraging our professional networks to support you with a diverse range of services (IT, insurance, legal) 
  • Developing innovative and value-add solutions for your business
  • Demonstrating knowledge of our clients industry or business area.

Sometimes the term 'Business Advisory Services' can be confusing. To help you understand more about the services we offer and why we are a finalist, follow the links below or call our friendly team to see how we can assist you and your business.


These sessions allow us to collaborate with you to set goals and we ensure you are held accountable to achieve them. We support you to make better business decisions, utilising the expertise and experience of your Kendons' coach. 

Find out more

We can help you to determine the key drivers and road blocks of your business. This enables us to develop performance improvement strategies and measures that increase your profit and free up cash flow.

Find out more

We identify opportunities to add value by utilising additional applications. These opportunities are then scoped through a process of discovery sessions with your key business personnel. We can then recommend a suitable app-stack for to meet your business needs.

By implementing the app-stack and integration, we are then able to ensure your data is accurate. This allows us to create dashboard reporting targeted to your needs and KPIs. This is a great visual tool to put complex financial information into an understandable format for you and your partners.

Find out more


We review your current Xero settings and usage, allowing us to provide recommendations, additional training and review your internal processes. This ensures you have access to accurate and timely data and allows us to provide general feedback about the overall business health.

Find out more


We offer many more advisory services such as -organisational reviews - strategic business planning - cash-flow forecasting and advice - structuring advice - due diligence - company and trust formations - succession planning - business acquisitions, sales and mergers - plus more!

Find out more

A very big thank you to our talented team of advisors who have worked so hard to get us here and of course, to you, our clients, of whom we could not achieve this without! 

Audit Shield insures you for the payment of professional fees incurred if you are selected for an audit, investigation or review by the IRD.

We know the cost of being properly represented can be considerable depending on the circumstances. Even a simple audit or investigation can require hours of work. We can help you with Audit Shield to provide a fixed, cost-effective solution to guard against these unbudgeted costs.

The renewal period for Audit Shield cover is coming up at the end of August. Speak to our friendly team today to ensure you are covered!

Audit Shield Master Policy: For Your Protection

What is audit activity? 

Audit activity includes any audit, enquiry, investigation or review which is instigated by the IRD (or other government agencies) to ensure business and tax payer compliance. This includes various tax and legislative requirements such as Income Tax, PAYE, GST, FBT, Record Keeping and Employer Returns, amongst others.


How common are audits, enquiries, investigations or reviews?

The IRD continues to focus on audit activity and is consistently provided with additional resources for this purpose. Now more than ever anyone is at risk of being selected for one of the above.


What is the Audit Shield Master Policy and why should it be considered?

Kendons' Audit Shield Master Policy covers the cost of professional fees incurred as a result of your lodged return being selected for an audit, enquiry, investigation or review. The cost of being properly represented can be quite significant. Even if no adjustments are required, you could still be left with considerable professional fees if you do not have insurance that covers this. Our Audit Shield Master Policy provides a fixed, cost-effective solution to protect you.


What lodged returns are covered?

Computer Tax Audits - Dividend Withholding Tax - Employer Returns - Fringe Benefits Tax - GST - Imputation Credit Account - Income Tax - Non-Resident Withholding Tax - PAYE - Record Keeping - Resident Withholding Tax - Plus more!


Who provides the Audit Shield Master Policy?

We provide Audit Shield via a Master Policy we hold in Kendons' name, which is underwritten by Vero Liability Insurance Limited.

Who is covered?

All of our clients are invited to participate in our Audit Shield Master Policy, and we recommend it. Different levels of cover are available for salary and wage earners and businesses with turnover under $100 million. In most cases, individuals and other family entities can be covered with the business entities – for no extra cost. If you decide to participate, your cover commences one business day after your payment is received.


Is Audit Shield mandatory?
No, it is simply a service we offer to you, our client.

What is not included?
We have carefully selected our Audit Shield Master Policy to provide the widest possible coverage for us and our clients. However, we do remind our clients that such items or circumstances as listed below are not covered:

  • Any audit, enquiry, investigation or review arising from any verbal or written communication of impending audit activity given to you or us (your accountant) prior to your participation date;
  • Any audit which is commenced or is conducted specifically for the purposes of determining your taxation liabilities and liability to pay tax, interest, additional tax or penalties as a result of participation in any mass marketed, publicly promoted, tax avoidance or tax minimisation scheme unless the scheme has received a prior binding ruling from the relevant government authority or agency; 
  • Any IR audit where the auditor imposes a final shortfall or culpability penalty of 100% or more in relation to any year, or in relation to any entity that falls within the scope of the claim.
  • Any punitive costs such as penalty tax, costs, interest or any fines;
  • Any matter in relation to Inland Revenue Child Support or Working For Families;
  • Costs for work incurred which should have been undertaken prior to the audit, enquiry, investigation or review taking place (e.g. outstanding lodgements);
  • Any actions in regard to correspondence from any authority that is educational or advisory in nature or merely suggest, invite or propose actions to be taken; or act as a warning to you that you may be selected for an audit at a future time; or do not compel you or us to take any action.


Speak to our friendly team today to ensure you are covered



Learn about Xero Projects & Expenses

Top 7 Tips & Tricks  of Xero


Welcome to our series of free Xero Webinars. Learn about Xero Projects and Expenses is the third webinar in the series.

If you missed the first webinars you can view it by clicking on the below link.

Introduction to Xero (Business Edition)

Any questions relating to these webinars please contact us directly so that we can assist with your Xero journey.


Have a great day from the team here at Kendons.

Learn about Xero Projects and Expenses

Tuesday 23 July 2019 at 10am

Join Xero for a free online webinar to learn more about two of Xero's most popular addons - Projects & Expenses. Xero Projects will allow you to manage job in your business and give you live visibility of the
profit and Expenses will take the hassle out of managing receipts of your daily expenses.


During this 45 minute webinar you'll learn:


How to access Xero Expenses

Different user roles for their expenses submission

How to control staff expenses

What is Xero Projects and who is it for
How to activate Projects
How to record time and expenses to a Project
Project profitability reports
Use of Expenses and Projects Mobile app
How to raise a case with Xero support

There will also be some time at the end of the webinar for a live Q&A session.


Please register for the webinar here. If you're unable to make the webinar on Tuesday 23 July at 10am there will be an recording available afterwards for your viewing.


Helpful resources 
We've put together some helpful resources to support you with your Xero journey.

Xero resources




New Xero product announcement

Hubdoc - a Xero product that will change your life! 


Kendons have recently partnered with a Xero product called Hubdoc. Hubdoc has the ability to automatically collect bank statements via online banking and store them for use when completing year end accounts. Hubdoc fetches the documents as they are created, without accessing the bank accounts themselves. 
Due to the number of bank statements we request each year, we are offering this free service as a way of reducing the amount of information gathering required by you each year so that we can complete your GST, accounts and tax returns. 
If you're interested, please feel free to drop into the office and our friendly receptionist Orlanda will be happy to get you connected in minutes – you'll just need to enter your online banking credentials into the system, so please have these handy. 
The Hubdoc technology also has additional functionality to allow you to automate the flow of data from your suppliers into accounting software like Xero. If Hubdoc sounds like a product you would benefit from using in your own business, we would be happy to discuss this with you. Please call the office 03 343 4448 to arrange a time to catch up about this in more detail. In partnership with Hubdoc, Kendons is thrilled to offer a discount on new subscriptions for these advanced features. 
Click here to view a video for more information.

Top 7 Tips and Tricks of Xero



Top 7 Tips & Tricks of Xero


Thursday 6 June 2019 at 12 noon


Join Xero for a free online webinar to learn more about the accounting software with all the time-saving tools to help you manage your business. During this 45 minute webinar you'll learn:

  • Files
  • Contact groups for bulk invoicing
  • Payment services
  • Bank Rules
  • Mobile App
  • Email to Bills
  • Batch Payments

There will also be some time at the end of the webinar for a live Q&A session.

Please register for the webinar here. If you're unable to make the webinar on Wednesday 15 May at 12 noon there will be a recording available afterwards for your viewing.


Helpful resources


We've put together some helpful resources to support you with your Xero journey.


Xero resources



Business guides


Introduction to Xero Webinar

Introduction to Xero webinar 

Wednesday 15 May 2019 at 12 noon 

Join Xero for a free online webinar to learn more about the accounting software with all the time-saving tools to help you manage your business. During this 45 minute webinar you'll learn:

? How to create a Xero login
? How to set user permissions
? How to raise a case with Xero support
? Where to enter your organisational details
? How to create an invoice
? How to do bank reconciliations

There will also be some time at the end of the webinar for a live Q&A session.
Please register for the webinar here. If you're unable to make the webinar on Wednesday 15 May at 12 noon there will be a recording available afterwards for your viewing. 

Helpful resources
We've put together some helpful resources to support you with your Xero journey.

Xero resources


Business guides




March 2019 Update

Kendons Update March 2019 
In this issue 
Information regarding the changes to the Annual Questionnaires
Ring Fencing of Losses and what this might mean for you
IRD services temporarily unavailable
Kendons closure dates for April 2019

Changes to our Annual Questionnaires process

These last few months we have been working to develop a new and improved system for gathering your annual information. 
Shortly we will be sending out our regular year end email regarding your 2019 accounts and when we have your work scheduled however this time it is for information purposes only. 
A month prior to your work being scheduled to begin, you will receive an email with a link to the Kendons 2019 electronic questionnaire. There are approximately six fields to complete then on the completion with your digital signature this document will be automatically sent back to us. This means no printing and scanning back to us. Couldn't be easier! 
Once we start working on your annual accounts you will receive an email from us asking you to answer questions and provide documents. The questions will be tailored specifically for you, your business and/or trust activities. Don't panic - closer to the time we will send you a step by step guide. 
We believe we have thought of every possibility however with all things new, especially technology, we expect that the unknown may occur. Please have patience with us while we iron out any glitches. It is our wish to find time effective solutions to make your lives easier.

Proposed Tax Changes

An issues paper has been released by Inland Revenue proposing changes to the tax regime for investment properties. Inland Revenue is proposing that the new rules will apply from the 2019/2020 tax year and will mean that investors will no longer be able to offset losses on property investments against their other income. It's not yet clear whether the new rules will be applied in their entirety from 1 April 2019 as Inland Revenue have indicated that it may be possible to phase the rules in over a two or three year period (by gradually reducing the amount of losses that can be applied against other income). However, the IRD appears to favour applying the rules in their entirety from 1 April 2019. At the date of this newsletter, these changes have not been legislated. 
Please contact the team at Kendons if you have any questions relating to how this may affect you. 

IRD Services will be temporarily unavailable

As many of you will be aware IRD is making some major changes to their website. To make these changes their key services will be unavailable between 3pm, Thursday 18 April and 8am, Friday 26 April 2019. During this time you will not be able to access myIR, or contact them through their contact centres. Their offices will also be closed. 
This temporary close down will also mean that you will not be able to file your Employer Schedules on the 20th using myIR – please either file the schedule before 18th April or file it on Friday 26th. The IRD will not charge any penalties for the schedules filed on the 26th. Payments can be made via internet banking.

April is going to be a short month!

This year Easter and ANZAC day occur in the same week. Kendons will be closed for the full week – gifting our fabulous team extra days off to enjoy a long break. We will be closed from 5.00pm Thursday 18th April 2019 and re-open 8.00am Monday 29th April 2019.

For key tax dates for April 2019 click on the below

Kendons and AML / CFT Act Obligations

From 1 October 2018, we may be required to undertake client due diligence in order to comply with our obligations under the revised Anti-Money Laundering and Countering Financing of Terrorism regulations in New Zealand.

The information we may require will depend on the type of work we're performing and your type of entity. If required, we will need this information before we begin any work.

When you contact us, or if there is a significant change in the nature of your work, we will let you know if we need to carry out client due diligence and what information we require.

This may include:
  • Forms of identification (for example, your passport or driver's licence)
  • Proof of your address (for example a recent utility bill or rates invoice)
  • Your occupation and where you do business
  • We may need further information depending on your specific services. For example, for trusts, we may require information about trustees and beneficiaries. For companies, we may need information about directors and shareholders. 
  • We may also need to verify the source of funds for certain transactions.

If you have any queries, please do not hesitate to contact us.

From Kendons Directors

Click here to contact Kendons Today!