Beyond Niugini

Beyond Niugini Beyond Niugini is a professional service business which provides immigration & work permit services Can also assist in opening Business/ Company Bank Accounts.

Specialist professionals offering HR and Immigration Services assisting in various Visas/ Entry Permits and Work Permits. Also providing Accounting and Compliance Services such as Bookkeeping, Cashflows, Financial Statements, Payroll, Preparation of Tax Returns (Salary Wages Returns, GST, Company Income Tax, Training Levy) Annual Returns, TIN (tax file no.) registration for individuals and company

, IPA lodgements for businesses, companies and other groups. We also provide business advise for new business start ups and existing businesses. We have experiences in Accounting Softwares, MYOB, QucikBook, Attache (including Attache Payroll) and Pronto.

10/01/2017

Specialist professionals offering HR and Immigration Services assisting in various Visas/ Entry Permits and Work Permits.

Also providing Accounting and Compliance Services such as Bookkeeping, Cashflows, Financial Statements, Payroll, Preparation of Tax Returns (Salary Wages Returns, GST, Company Income Tax, Training Levy) Annual Returns, TIN (tax file no.) registration for individuals and company, IPA lodgements for businesses, companies and other groups. We also provide business advise for new business start ups and existing businesses. Can also assist in opening Business/ Company Bank Accounts.

We have experiences in Accounting Softwares, MYOB, QucikBook, Attache (including Attache Payroll) and Pronto.

Photo credit Unknown.
22/02/2016

Photo credit Unknown.

16/02/2016

Legend has it that one day a man was walking in the desert when he met Fear and Plague. They said they were on the way to a city to kill 10,000 people. The man asked Plague if he was going to do all the work.

Plague smiled and said, “No, I’ll take care of only a few hundred. I’ll let my friend Fear do the rest.”

Can you actually die from fear? Most likely not. What fear kills is your spirit, your ambition, your confidence.

10/02/2016

Money Management

The wealthy manage their money very differently compared to normal people. They have learnt over time to manage their personal and business money differently, which has allowed their money to grow and work for them.

Personal and Business money management are two different things and should be managed differently.

Managing one’s money is the start to investing and building a successful business.

If you can’t manage your money NOW you will not be able to get ahead financially in Future. More money is given to the ones that learn to manage their money NOW.

“If you do not know how to care for money, money will stay away from you.” – Robert Kiyosaki

Personal Money Management
How do you spend your personal money, money that you earn either from work or business?

How do you split it up?

Do you spend first then save afterwards?

Do you buy everything and feed your relatives and pay for everything else than try to save?

Most people do that. They spend first then they try to save what is left.

The wealthy do the opposite they save FIRST to invest than they spend money. I want to break this section into three parts the spending, saving and money management.

Savings – The wealthy save to invest meaning before they even spend the money they earn, they take a portion of it out and automatically put it towards investing. The rest they divide it into how they are going to manage the spending of it. I love the quote by Warren Buffet on saving money do not save what is left after spending, but spend what is left after saving.

Spending – Most people spend money like famous actor Will Smith states “Too many people spend money they have not earned, to buy things they don’t need to impress people they don’t like.” Do you feel like that sometimes? Where you are spending money on people because you feel obliged to and you feel trapped or can’t do anything about it?

In PNG culture, wontok system is one of the biggest killers of getting ahead and also not empowering the people who can become more become more.

So how do you spend money?

The money you earn must be split into an effective money management system that works so you can spend wisely.

Don’t just spend money on things that will have little impact spend money on things that will have bigger impact and last longer.

There is nothing wrong with helping your relatives but only when you are financially free not when you are struggling to make ends meet.

Money Management – To have more money at the end of the month instead of having none, you have to have a good money management system in place regardless of how little you make. This is the simplest rule in getting ahead financially.

I will show you the same strategy we thought at our recent seminar in PNG early this year and it is an ancient system that has been used by Jews people for thousands of years.

The Jews people split the money they earn into 5 categories using certain percentage (%) as follows;
Tithe (the lords money) – 10%
Giving – 10%
Savings – 10%
Investing money – 20%
Spending - 50%

So let me explain how these system works.
Tithe this is the lords money and should be given to the church you go to
Giving this is the money you can help you relatives with. Now once this money runs out that is it there is no more to give and you need to say no.
Savings this is the money you save for rainy days or maybe school fees for your kids but should not be spent unnecessarily. This could be also money put towards buying a house or car for you and your family.
Investing this money needs to be put aside and saved until you have enough to invest in something that will make you an additional income. While you are waiting for this money to grow learn as much as you can on what you will invest it in.
Spending this is the money you spend on rent, food, electricity everyday expenses etc.

Below is a link that shows you a quick video of how this is done and I highly recommend you spend money on credits to watch this because it will change your life if you don’t already know this system and are struggling to manage your money.
Click Here to Watch Now......

Business Money Management
Business Money Management is totally different from personal money management.

However most people in business I speak to who have a business do not know the difference or understand it well enough. Below are some simple rules about managing business money.

Some simple rules to understand:
Do not take money out of your business and give to your relatives. Give that from the 10% allocated from your personal money management account.
Do not take money out of your business account to pay for personal expenses. VERY IMPORTANT: PAY YOURSELF A FIXED WAGE every week or fortnight.
Do not borrow to start a business unless you already tested the business and made some money with it.
Always have a budget prepared on how much you will spend for the month and stick to it. Keep a close eye on how you spend money and what you spend your money on versus your budget.
Monitor what sells and what doesn’t and stock more of what sells and cut back on the items that don’t sell. Allot of people spend money on things that do not sell so pay attention to what sells and buy more of that because that’s in demand.
Monitor your expenses and what you are spending money on. If it does not generate you more money that spending activity needs to stop or you will lose money its very simple.
Profits made from the business should be put back into the business to grow it and;
BUSINESS IS NON-EMOTIONAL so don’t get EMOTIONALLY caught up in it. It’s a numbers game, so learn to play it.

“No business in the world has ever made more money with poor management.” – Bill Terry

Source: Jay Ban Inspire Papua New Guinea

04/02/2016

An inspiring poem shared with me by Jay Ban. PNG's very own international investor based in London and my business mentor.

Hows your week going? Hope its great, today I want to share with you a poem I came across this week by Your World Within.

The Captain Of Your Ship

Envision a boat making its way through the water, moving further and further from sight

Just a tiny object amidst an enormous ocean

Its journey comprised of endless possibilities, unlimited potential

Its destination could be anywhere in the world

And while observing this boat, as it glides over the water, nothing is more apparent than the freedom it contains

The beauty in knowing that it can follow its soul into the sunset if it so desires

And as you look on to this phenomenon you’ll notice that it sheds no light on where the boat has been, nor on what has brought it to this point

You won’t see the wrong turns taken, the mistakes made, nor the obstacles that were overcome to get here

What you will see is a seemingly fresh start

Where every second of every minute is a new opportunity for the boat to go where it wants to go, to be what it wants to be

Its wake has no impact on its course

This is one of the most beautiful things about being alive

Every single day provides a blank page in your story for you to fill out as you see fit

Old habits, friends, mistakes, expectations, they exist in whatever capacity you allow them to

But they are not you, they are not indicative of your potential

You are the captain of your ship

Set sail........

02/02/2016

It is necessary for all business operating bank accounts to have a TIN formerly known as Tax file number. The bank's have new more stringent controll measures when it comes to opening new business accounts. The following extract provides information on this subject.

Bank accounts and TIN Q&A from

Source - IRC website http://www.irc.gov.pg

When does the quotation of a TIN become mandatory?

Immediately upon the issuance of BPS253. We believe this was the 25th of July 2014.

Do we have to retrospectively require our customers to provide us with their TIN numbers?
Yes, this will need to be done before the close of the transition period, this close date is to be
determined.

Who is affected?
All accounts that are conducted for the purpose of running a business. This may include individuals (sole
traders), partnerships, companies, trusts etc.
Will people who are employees be affected?
No, providing that they do not also run a business account for some other activity they undertake. IF this is the case then Yes they will.

Will savings, and cheque accounts be affected?
Yes, if they are conducted for business purposes. This will also be so for loan accounts.

Will customers have to quote their TIN for all accounts and activities with us?
The quotation of a TIN is required for all interactions with the bank but this will only need to be done once, then you should note the TIN in relation to each account in that name. If related accounts are conducted for example a different company (but with the same owners) then the TIN for each company is required.

What if we do not have accounts for businesses but they use other banking services like money
transfers, do we need their TIN?
Yes, any banking transaction will create a relationship that requires the quotation of a TIN.

02/02/2016

Specialist professionals offering HR and Immigration Services assisting in, Passports and Birth Certificates, Entry Visas and Work Permits also providing Accounting and Compliance Services such as Bookkeeping, Payroll, Preparation of Tax Returns (Salary Wages Returns, GST, Company Income Tax, Training Levy) Annual Returns, TIN (tax file no.) registration for individuals and company, IPA lodgements for businesses and other groups. We also provide business advise for new business start ups and existing businesses.

Address

P. O Box 6908
Boroko

Opening Hours

Monday 08:00 - 17:00
Tuesday 08:00 - 17:00
Wednesday 08:00 - 17:00
Thursday 08:00 - 17:00
Friday 08:00 - 17:00
Saturday 08:00 - 13:00

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