Preparing GST returns can be a complex and time-consuming process. From understanding different tax codes to the ever-changing tax laws and regulations, businesses often struggle to navigate the complexities of GST return preparation. The constant need for awareness and understanding can be overwhelming, especially for those without a professional accountant's help.

Pain Points of Doing Your GST Preparation

Complexity and Time Consumption: GST regulations are intricate and require careful attention to detail. Preparing and filing GST returns can be a time-consuming task that takes you away from focusing on your core business operations.

Risk of Errors: Mistakes in GST calculations can lead to penalties, fines, and even audits by the IRD. Without a professional's eye, it's easy to overlook critical details.

Constant Changes in Legislation: GST laws are frequently updated. Staying on top of these changes requires ongoing education and vigilance, which can be overwhelming for business owners.

Record Keeping and Documentation: Proper documentation and meticulous record-keeping are essential for GST compliance. Mismanagement of records can result in discrepancies and compliance issues.

Errors in GST return preparation can have significant consequences, including financial penalties and reputational damage. This can also lead to overpaying or underpaying taxes, affecting your cash flow and business's finances.

Discover how our services can help you. Read the DVA blog below.

Joining February 2024, Madi has been an integral part of the DVA team. As the Operations Leader, she thrives on the dynamic challenges of her role—the combination of client director work, tax, advising and reviews. Madi also ensures the team productivity aligns seamlessly with stringent filing KPIs. Her commitment to collaborative teamwork fuels a positive and efficient work environment.

Drawn by the DVA's proactive approach, Madi saw this as a way to add more value to clients than the traditional re-active approach other accounting firms use.

Originally from Cape Town, South Africa, Madi made a significant move to Auckland in 2019, completing bridging courses at Massey University and CA ANZ before excelling at a prominent CBD Chartered Accounting firm. Under the mentorship of a prominent tax lawyer, she gained invaluable experience across various industries, from real estate and property development to finance, technology, and hospitality.

Beyond her professional achievements, Madi finds joy in hiking, gardening, and embracing nature's beauty. An avid traveler, she embarked on a remarkable two-year solo backpacking journey through Europe and even indulged in the exhilaration of a solo parachute jump.

When asked what DVA core value resonates her the most, she said:

Drive and Teamwork - A dynamic team that collaborates effectively is important not only for achieving project milestones but also for maintaining a positive and supportive work environment. The drive to keep momentum ensures tasks progress smoothly towards completion, enabling the team to deliver on commitments efficiently.

As for the best financial advice she's ever received:

Start saving when you're young, always have your own money to jump at investment (or travel) opportunities when they arise.