CHARTERED ACCOUNTANTS AUDITORS AND BUSINESS ADVISORS

New Zealand: A Strategic Opportunity for APAC Investors

New Zealand, known for its natural beauty, also offers a robust and attractive environment for business, and can be particularly attractive to investors from the Asia-Pacific (APAC) region. The country’s top position in the World Bank’s Ease of Doing Business index highlights the streamlined nature of its regulatory framework.

Client Profile: Animal Medical Centre

Nestled in the heart of Johnsonville, Northern Wellington, Animal Medical Centre has been a haven for pets and their owners for 19 years. Proudly independently owned, this veterinary practice embodies the belief that "pets are a beloved part of our lives."

The all-rounder finds her calling: Alix Dalzell’s Journey

Alix Dalzell’s career story provides reassurance to any high school student who does not have an answer when someone asks, ‘what do you want to do when you grow up?’

New Zealand's Growing Trade Ties with ASEAN

New Zealand's trade relationship with the Association of Southeast Asian Nations (ASEAN) has been significantly bolstered by the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA). Since its implementation in 2010, AANZFTA has paved the way for enhanced economic cooperation and mutual growth between New Zealand and ASEAN member states.

Impact of the Changes in Marginal Tax Thresholds

For the first time since 2010, personal tax rate thresholds will change from 31 July 2024. The change was announced as part of the 2024 budget. When personal tax thresholds are not regularly adjusted to take into account inflation or wage growth, individuals end up paying a higher percentage of their income in taxes over time. As such, adjusting these thresholds arguably reverses past tax increases.

New Product Lines

It is important to regularly ask whether you are providing the products that your customers want and whether there are any new products that you could provide to ensure you are evolving with changing times as you look for the next income stream.

Donating Trading Stock

What was a temporary tax concession relating to donated trading stock has now become a permanent one thanks to the enactment of the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Act 2024 on 1 April 2024.

Employee Share Schemes

For businesses that trade through a company, circumstances might arise in which the shareholders consider selling a minority stake in the company to a key employee or group of employees. This could be to ensure that key talent is ‘locked in’ for the long term, as a means of succession if the existing shareholders are looking to wind-down or simply as a means to link effort to reward.

Non-BAU Transactions

BAU is a phrase that is used to describe “business as usual”. It is a good barometer of whether anything strange or unusual has occurred or whether things have been BAU.

Inland Revenue Activity

After a relatively quiet few years through the Covid pandemic, Inland Revenue’s (IR) audit activity has slowly started to increase over the past few years.

Kaibosh Food Rescue

When you think of a logistics company, your mind might wander to trucks, warehouses, and a lot of paperwork. But Kaibosh isn’t your ordinary logistics operation.

Balancing the Benefits and Risks of the Government’s Fast-Track Policy

The recent modifications to the government’s fast-track policy have sparked significant debate among business leaders, policymakers, and the broader public. As these changes attempt to strike a balance between accelerating infrastructure development and maintaining stringent environmental and community safeguards, it is crucial to consider the implications for medium to large enterprises across various sectors.

Stay Ahead: Don't Miss Your AML Audit Deadline!

Finalising your Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) audit before the due date is crucial for all New Zealand reporting entities. The importance of meeting this deadline extends beyond mere compliance. Don’t let it affect the integrity, reputation, and operational efficiency of your organisation.

Government Reverses Interest Deductibility Limitations

With the new Government now firmly settled in, legislation has been passed which reverses the interest deductibility limitation rules that were introduced by the previous government in 2021.

Charities Deregistration Tax on Assets

A recent law change has been passed by Parliament impacting charity deregistration tax rules.

When a charity is removed from the Charities Register, they may need to pay de-registration tax.