Welcome to the Vision Accounting e-newsletter for February 2015. This is a great way for us to share important information you need to know, helpful tips and hints and practical resources to help you in business for 2015.
What's very Important?
It’s time to finish off those end of year financials and get them completed for the 2014 tax year.
We know there are still some of you who need to get their information to us – please do so urgently
. It’s important to have these completed now
so you know what tax you need to pay for the current financial year and still have a small window of time available to attend to any terminal tax in April. And if you’re behind in putting aside your GST and Tax money – you still just have time to do that, so you don’t get behind with the IRD and have to pay unnecessary penalties.
So please forward any outstanding information to the team at Vision Accounting and we can speed up completing your accounts for you. (any problems give Jane a call on - (09) 415 0319).
What You Need to Know
Health and Safety heads up
The Health and Safety Reform Bill was passed at the end of last year and the resulting Health and Safety at Work Act will be implemented in stages, the first stage taking effect from 1 April 2015. The legislation itself is part of a major reform of health and safety practice in New Zealand.
The new Act imposes a primary duty on employers, with a wide range of duties to ensure health and safety in the workplace. The definition of a ‘workplace’ includes any place where a worker goes, or is likely to be, while at work. The definition of a ‘worker’ is a person - for example, an employee, contractor, person on a work trial or volunteer - who carries out work in any capacity for 'a person conducting a business or undertaking' (PCBU). The concept of the PCBU is central to the new reforms, placing responsibility on anyone who owns or controls a workplace and therefore on all links in the contracting chain from principal to all levels of contractor and sub-contractor. Persons who are not necessarily visible at the workplace such as those who design, manufacture, import or supply plant, substances or structures can be PCBUs with responsibilities under the legislation for the health and safety of workers and others who use them in the workplace. Company directors and those in governance roles will have an explicit due diligence duty to ensure that workplace health and safety is managed proactively.
Workers and other people in workplaces will also have obligations to ensure care is taken for the health and safety of themselves and others.
The changes will help everyone involved in the business to be clear on what they need to do to maintain sound health and safety practices in the workplace and ensure workers have the knowledge and ability to keep themselves and their colleagues safe. The regulator and the courts will have a wider range of enforcement tools, including increased penalties for breaches of duties.
It is envisaged that there will be an initial round of new regulations covering general risk and workplace management; worker participation, engagement and representation; major hazard facilities; asbestos; and work involving major hazards. More industry-specific regulations are intended to be developed over the following two years.
We'll keep you posted as to what these new measures will mean for your business.