Inland Revenue has done a lot of marketing recently, including radio and magazine advertisements, in respect of the hospitality industry. Inland Revenue targeted 32,000 hospitality businesses in late June to raise awareness that keeping good books is good for business.
This marketing campaign is supported by a national visit programme which is set to occur across New Zealand.
The visits to these businesses (restaurants, cafes, bakeries, takeaways and liquor outlets) will involve conversations focussed on business record keeping, accounting for cash income, expenses and employee details, as well as promoting Inland Revenue online services.
This sector has been specifically targeted as it has been recognised as high risk in respect of low record keeping practices, incomplete or inaccurate employee wage records, high volume of cash transactions and a greater likelihood of under reporting of income.
If you have any questions on these visits or on any of the issues outlined above please give us a call.