June 29, 2018
If you are considering purchasing land with the intention of subdividing or if you are simply looking to increase the value of your existing property by adding an additional house, there are a couple of things that you will need to understand before taking the leap, so to speak. A subdivision… Read full post »
June 29, 2018
I've just recently given a seminar (to lawyers) for the Auckland District Law Society on Tailoring Constitutions for Small Businesses. The focus was on clauses or issues that might be relevant to companies’ constitutions if there’s no shareholders agreement but I also discussed some aspects of… Read full post »
June 29, 2018
New measures to ensure multinational companies pay their fair share of tax will come into force next week. The Taxation (Neutralising Base Erosion and Profit Shifting) Bill tonight passed its third reading in Parliament. Revenue Minister Stuart Nash says it takes effect from 1 July and will… Read full post »
June 29, 2018
It’s important everyone pays the right amount of tax. That’s why the New Zealand Government has signed up to the Automatic Exchange of Information (AEOI) - an international initiative to combat global tax evasion. We’re one of over 100 countries who’ve committed to share information about foreign… Read full post »
June 29, 2018
Two employees employed by the Ministry of Primary Industries (MPI) got into a fight at a bar in Courtney Place, Wellington. One employee was dismissed, the other employee received a written warning. The employee that was dismissed (Mr Smith) challenged his dismissal on the basis that he had been… Read full post »
June 29, 2018
How Cover Plus Extra worked for Kathy Understanding the difference between ACC and ACC Cover Plus Extra can make a massive difference when it comes to claiming ACC and how much you will get and how quickly you get it. ACTUAL CASE: PROFESSIONAL FEMALE : AGE 57 Kathy is a professional counsellor… Read full post »
June 29, 2018
If you provide certain financial services as a part of doing business, you have to safeguard yourself against money laundering and financing terrorism. This might include changing how you ID customers. This law change applies to real estate agents, conveyancers, many lawyers and accountants, and… Read full post »
May 29, 2018
Human beings love stories. But this innate tendency can lead us to imagine connections between events where none really exist. For financial journalists, this is a virtual job requirement. For investors, it can be a disaster. “The New Zealand dollar rose today after Westpac Bank dropped its… Read full post »
May 29, 2018
Alternative Dispute Resolution (“ADR”) methods are an alternative option to going directly to court. Using ADR methods instead of pursuing the matter in court is commonly more cost effective for the parties involved, ADR may also take less time to resolve the dispute. ADR relieves the court of cases… Read full post »
May 29, 2018
Hats off to those who are starting their own business or have started, and are in the first few years of business.Like most of us who own our own business, we are passionate about what we do, but we would also like to improve the lives of our family and earn more than we were. It's a game changer… Read full post »
May 29, 2018
The Government is to close a loophole that gives offshore companies an advantage by not requiring them to collect GST on all goods sold to local consumers. “Domestic businesses have long called for greater fairness in the treatment of low-value goods from offshore retailers,” says Revenue and… Read full post »
May 29, 2018
An anonymous tip-off has led to a Hamilton tradesman being sentenced to nine months’ home detention for not paying nearly $240,000 in tax. Uelese Young Yen was sentenced on 29 charges relating to two building services companies, Myra Quality Services and Julz Property Services, in Hamilton… Read full post »
May 28, 2018
Monkey see, monkey do. When parents behave badly with their finances, children learn by watching their parents and experimenting, not listening to hypocritical lectures.We want to set them up for success and to fly the nest financially, preferably in their 20s, not decades later. But sometimes we're… Read full post »
May 28, 2018
For those clients on our Tax Management Service who, as a result of Income Tax Returns, have Provisional or Terminal Tax amounts to pay, we will send you tax payment reminder notices. These payment reminder notices are emailed to you using the email address we have on file for you. Please… Read full post »
May 28, 2018
The focus for Finance Minister Robertson’s budget is on public service spending (health, education and housing) and investment in infrastructure. There are two tax-related announcements in the budget: Changes to the bloodstock rules that will allow new investors to deduct the cost of… Read full post »
April 26, 2018
Renewed volatility in markets has awoken the media from its summertime slumber. News directors drag out dated file footage of frantic traders and summon talking head experts to explain to ‘mums and dads’ what it all means. Well, what does it mean? More importantly, does it matter? Everyone has an… Read full post »
April 26, 2018
Anti-money laundering has recently been in the spotlight in New Zealand with the Ministry of Justice estimating that almost NZ$ 1.35 billion from fraud and illegal drugs is laundered through ordinary New Zealand businesses each year. To combat this kind of criminal activity, New Zealand’s… Read full post »
April 26, 2018
Employment law seems to be the flavour of the month. The Employment Court has given a very important decision affirming that it is permissible to pay out a notice period in relation to a trial period. There was uncertainty about this due to another Employment Court decision. The employment… Read full post »
April 26, 2018
The effective date for transferring a GST refund arising in periods ending on or after 1 April 2018 will now depend on when your GST return is filed. For GST returns filed: before the due date: the refund can only be transferred on the day after; thethe return was filed, orthe end of the GST… Read full post »
April 26, 2018
From 29 March 2018 the bright-line test for residential property has been extended from 2 years to 5 years. The extended bright-line test only applies to properties for which an agreement to purchase the property was entered into on or after 29 March 2018. If an agreement to purchase a property was… Read full post »