Back to Blog

Why Profit Doesn't Equal Cash (And Why Business Owners Need to Understand the Difference)

One of the most common frustrations for business owners is looking at a set of accounts that shows a healthy profit, only to find there is very little money in the bank account. If you've ever wondered, "How can we be making money but still feel short of cash?", you're not alone. Understanding the difference between profit and cash flow is one of the most important financial concepts for any business owner. It's also one of the most misunderstood. Profit and Cash Are Not the Same Thing Profit is...

The 5 Numbers Every Business Owner Should Review Monthly

Most business owners are busy running their business and serving customers. Unfortunately, many don't review their financial results until it's time to prepare their annual accounts and tax returns. By then, it's often too late to influence the outcome. Reviewing a handful of key numbers each month can help you make better decisions, improve profitability and avoid unpleasant surprises. 1. Revenue How much money came into the business this month? While revenue isn't everything, it's often the fi...

Why Good Accountants Talk About Wealth, Not Just Tax

Most people think accountants help with tax returns, GST, and financial statements. While those things are important, they're only part of the picture. A good accountant shouldn't just tell you what happened last year. They should help you make better decisions about where you're going next. After all, the purpose of a business isn't simply to minimise tax. It's to build wealth, create opportunities, and achieve the lifestyle and financial goals that matter to you. Looking Beyond Compliance Man...

When is something new? Investment Boost

Investment Boost applies to ‘new’ assets. A new asset is something which first becomes available for use in New Zealand on or after 22 May 2025. There is an exclusion to ensure that an asset which is sold but has been used as trading stock is still eligible. For example, a car yard will have vehicles available to be test driven prior to sale. As these are being held by the car yard as trading stock (rather than a depreciable asset of the car yard), when that vehicle is sold to its first owne...

Why It’s a Smart Idea to Prepare Financial Statements for Trusts

With the IRD upping the reporting requirements for trusts, it’s more important than ever to stay on top of your paperwork. Even if your family trust is considered non-active and isn’t earning income, preparing financial statements is still a smart move. Here’s why:- Keeping Records in Check: Trustees need to hang on to documents that show what the trust owns and owes—it’s part of the job.- Transparency for Beneficiaries: Beneficiaries have a right to know what’s going on with the tru...

Protect Your Business with Smart Insurance Choices: A Guide from Cameron Rolls

Running a business comes with its fair share of risks, from unexpected disasters to cybersecurity breaches. At Cameron Rolls: Accounting, Advisory, and Virtual CFO, we believe that safeguarding your business is a critical step toward long-term financial success. To help you protect what you’ve worked so hard to build, we’ve outlined seven essential types of business insurance every business owner should consider. 1. Property Insurance If your business owns physical property—such as buildin...

Tax Guide for Content Creators in New Zealand

Navigating Your Tax Responsibilities with Cameron Rolls - Chartered AccountantsContent creation is an exciting and growing industry, with creators earning income from platforms like YouTube, TikTok, Instagram, and others. But as this industry grows, so does the IRD’s focus on ensuring creators meet their tax obligations. Here’s a clear and concise guide to help you understand your responsibilities.Am I Running a Business or Pursuing a Hobby?The distinction between a business and a hobby is c...

Virtual CFO and Business Mentoring

“Do you ever wish your accountant was more than just a number-cruncher? How about having someone who mentors you and offers virtual CFO support, all while truly understanding your business? Let’s have a chat about how a new accountant can provide the personalised guidance and strategic insights you’ve been missing. Sometimes a fresh perspective is all it takes to take your business to the next level.”...

Numbers help with answers....

Do we need more finance? Do we need more or fewer customers?Are we pricing our services correctly? Is now a good time to sell? When will we be able to retire and hand the business over to our kids? What are our goals and how will we achieve them? What services or products in the business are not performing? How can we achieve that competitive edge? What’s our tax plan?Have we identified our strengths and weaknesses?Do we have the correct business structure in...

Bright-line property changes

What are they and who do they affect?Let's start with what is the Bright-line property rule.The bright-line property rule in New Zealand is a tax law that requires you to pay income tax on any profits made from selling a residential property within a certain timeframe after purchasing it if it is not your family home.Effective from 1st July 2024 the bright-line property rules change. Bright-line testing will only apply to properties sold on or after 1st July 2024 if the property is sold within t...