April 28, 2015
From 1 July 2015 annual returns filed for New Zealand companies will have to meet new compliance obligations set out in the Companies Amendment Act 2014.This means that you will have to provide some additional information consisting of: the date and place of birth of every director (these will… Read full post »
May 5, 2015
You might have been asked by a friend or family member to be an independent trustee of a Trust. You may also have been appointed as an executor of someone’s estate, which will often also make you a trustee of the estate assets.Trustees have strict duties to the beneficiaries of the Trust. Most… Read full post »
May 5, 2015
Plenty – that’s what!When most people think of estate planning they think of a trip to their solicitor. However, there is so much more to estate planning than simply writing a Will. The fact that you need a Will in the first place is all about your money and assets and how you wish to share them… Read full post »
May 5, 2015
In the popular TV program MasterChef, contestants face a series of cooking challenges. From low quality ingredients to inadequate preparation to poor implementation, so many things can, and do, go wrong. It's a bit like investing.In the world of investment, there customarily are two broad… Read full post »
March 24, 2015
The 31 March 2014 year-end fast approaching and this is an appropriate time to consider some long-term tax planning initiatives and undertake some short-term measures to minimise tax for the current year.THINGS TO DO:Review doubtful debts and write off any bad debts prior to balance date. Bad debts… Read full post »
March 24, 2015
The Law Commission feels a new framework is needed to provide a clear and robust approach for trusts in the 21st Century. They are undertaking a three part review of trust law in New Zealand and presented the first report to Parliament on 11 September 2013. The Law Commission report focuses on…
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March 24, 2015
This update will outline some of them - I want to focus on some specific issues. Not all issues are referred to in this update - For example, there are provisions in the legislation dealing with unsubstantiated representations, unsolicited goods/services, lay by sales, internet traders and shill…
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February 25, 2015
An inspiring question can be thought of as an ambitious, but actionable question that can influence the way we think about something and can motivate us to bring about that change.Many of the people who have engineered impressive change in the world spent a lot of their time pursuing big questions.… Read full post »
February 25, 2015
From time to time, issues arise with employees in workplaces that cause employers concern. These issues are many and varied but can include concerns about possible employee misconduct. These events can trigger an employment process, involving an investigation and the need to meet with the employee.… Read full post »
February 25, 2015
In a case last year, an employee who had wanted extended leave and when refused, produced a suspicious medical certificate, was held to have been unjustifiably dismissed.There were two reasons why the dismissal was unjustified. First, the employer did not raise its suspicions with the employee… Read full post »
February 25, 2015
If you have a student loan and you receive income from salary or wages, NZ Super, a Veteran's Pension, student allowance or income-tested benefit, there are things you need to know to ensure you pay the right amount towards your student loan.If you work for salary or wages: You need to use a tax… Read full post »
February 25, 2015
For most business owners a substantial amount of their wealth is tied up in their business. All business owners have a "plan" for exiting. For a lot of people there is no formal plan rather a default plan that will be actioned as a result of triggers.What are some of the triggers to a forced… Read full post »
February 25, 2015
Debt can be a useful tool to start and grow your business, but small business owners need to make sure their debt is working for, and not against them.When a substantial amount of expenditure goes towards servicing debt rather than investing in the business, small businesses struggle to grow and can…
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February 25, 2015
When a company is in financial difficulty, it might enter voluntary administration, receivership or liquidation. There are important differences between these processes, as outlined below.Voluntary administration Under Part 15A of the Companies Act 1993 ('the Act'), an administrator may be… Read full post »
February 25, 2015
Leaving aside collective agreements, the main changes, briefly summarised, are that:* employers will have more flexibility in relation to meal and rest breaks where this is reasonable;* amongst other things, the rules relating to restructure and "vulnerable employees" (who include amongst others… Read full post »
February 25, 2015
The way the IRD work out how much child support liable parents/carers need to pay is changing from 1 April 2015. They will be updating all our child support forms and guides to reflect the changes.The changes mean the amount of child support you pay or receive might be different next year. Child… Read full post »
February 25, 2015
Having come back from our Christmas holidays and faced with the additional costs of starting a New Year this is an opportune time to look at your household expenses. One key household expense is our insurances. We all need insurance and we should ensure we are maximising the benefits of the premiums… Read full post »
February 25, 2015
Simply, to have a lifestyle you enjoy in retirement you need to make some decisions today. In order to make the right decisions you need a strategy and an action plan and most importantly; execution.For most people, retirement is not about investing in financial products, because in reality few… Read full post »