30 Aug Your Productivity / What can I claim?
How productive are you?
We Kiwis cop a bad rap for our productivity (or rather, our lack of productivity). It’s not that we’re aren’t hard working – in fact we are globally renowned for being hardworking – we just aren’t always that effective with our efforts. Apparently, there is little faith that we will improve much in the near future; in its Medium Term Outlook, this is what The Treasury had to say: “Growth in labour productivity over the forecast period is projected to average 1% per year, slightly below its historical average.” Ouch.
There is plenty of research and an even more plentiful supply of articles on the subject of how to be more productive (this is a good one from Inc and another decent one from Forbes)
At the heart of the issue is how to focus. Easy to say, not always easy to do – especially if you are running a small business. But research suggests that switching between tasks can cause a productivity loss of 40%. Imagine that, 40% of your day wasted!
So, what can you do to cut distractions? How can you add focus to your work? If you are feeling unproductive and need to build some focus, contact us.
What can I claim?
We frequently get asked what expenses can an income tax or GST deduction be claimed for. There is a LOT of misinformation out there and subsequently, a lot of businesses under claim or over claim their expenses. The Ministry of Business, Innovation and Employment has recently published an easy to understand, plain English explanation of expenses for business – it is aimed at contractors, but it applies equally to all small businesses. Check it out here.
Have a great September!
