November 2, 2018
A general principle of the Companies Act 1993 (the Act) is that the board of directors is appointed to manage and control the day-to-day operations of a company without having direct interference or oversight by shareholders (the owners of a company). However, some decisions may substantially change… Read full post »
November 2, 2018
"Sellers were out in force on the market today after negative news on the economy." It’s a common line in TV finance reports. But have you ever wondered that if there are so many sellers out there, who is buying? The notion that in down days sellers outnumber buyers doesn’t make sense. What the… Read full post »
November 2, 2018
Domestic Violence Victims' Protection Bill has been passed and will become law on 1st April 2019. New Zealand has a problem with domestic violence. Nearly half of all homicides are family related and NZ has the worst rate of family and intimate-partner violence in the world. Police report that… Read full post »
November 2, 2018
If you work from home, you are no doubt aware that you may claim a deduction for the business use of your home. To date this claim has been based on an apportionment of the actual costs incurred each year for utilities (gas, electricity, water, etc).This has meant you needed to maintain and… Read full post »
November 2, 2018
Shona Lyon is an Auckland-based professional sculptor specialising in figurative and portrait bronze sculptures. Shona’s sculptures are based on the principles of sacred geometry and the classical sculptural techniques introduced to her by her mentor, International Master Sculptor Martine Vaugel.… Read full post »
September 10, 2018
How does this affect you? Ever tried to open a new bank account – particularly if you’re a Trustee of a Trust or a Director of a Company? Then you’ll be aware of the rigmarole and hoops you must jump through to provide evidence you, your fellow Trustees and Directors, let alone the Beneficiaries… Read full post »
September 3, 2018
Effective from 1 October 2018As noted in previous newsletters, Xero have advised a price change to their Standard and Premium plans which become effective from 01 October 2018.Both plans will increase by $5+GST per month. The new prices are as per below:This price change comes with the recent… Read full post »
August 31, 2018
Have you read the news today? Chances are there’s something happening in the world with the potential to keep you awake at night. But it’s one thing to follow the news, it’s another to act on it in a way that can backfire on you as an investor. Journalists define news as what’s novel, startling,… Read full post »
August 31, 2018
A personal grievance (PG) is a formal process in which an employee may raise a complaint against their employer if they have been dealt with unfairly or illegally. The grounds available to raise a PG are outlined in the Employment Relations Act 2000 (ERA), together with the process for raising a PG.… Read full post »
August 31, 2018
When dealing with a company that has several directors, there’s a misconception that a single director can bind the company. Generally, it can’t be assumed that one of several directors can bind the company. That means that when a party wants to contract with a company, they should have the contract… Read full post »
August 31, 2018
The biggest tax change in 20 yearsInland Revenue (IR) expects that next year, about 750,000 tax refunds will be automatically generated for wage and salary earners who don’t usually apply to get their tax back.Speaking to the Finance and Expenditure Select Committee (last Wednesday), Inland Revenue… Read full post »
August 31, 2018
The time is now for New Zealand employers to get ready to shift to payday filing.From April 1 2019 all employers will have to file their employment information every payday. Inland Revenue customer segment lead Richard Owen says the easiest way to comply is through payroll software.“The first… Read full post »
August 31, 2018
The importance of disclosure When it comes to taking out new insurance or updating your current cover, it's best to tell the insurer everything. Insurance companies issue cover based on the answers you provide, and they could cancel your cover if they discover issues that were not disclosed to them… Read full post »
July 25, 2018
Australia, earth's driest continent, experienced national rainfall in 2017 that was 8% above the historical average. The year was the 30th wettest on record, according to the local Bureau of Meteorology. But the story is more complicated than that.While rainfall on a national basis was much higher… Read full post »
July 25, 2018
Historically, cross-leases were a popular form of dividing land for landowners. This is because owners could avoid certain subdivision restrictions and would gain similar results to a formal subdivision under the existing Act, but at a fraction of the price. However, when the Resource… Read full post »
July 25, 2018
Some traders are still losing out big time due to their ignorance or disregard of the PPSA. Despite the fact that the Personal Property Securities Act (PPSA) 1999 is close to being 20 years old, there seem to be more than just a few traders out there who are unaware of the PPSA or who choose to… Read full post »
July 25, 2018
The current minimum wage rates (before tax) are as at 1 April 2018 and apply to employees aged 16 years or over: Type Per hour 8 hour day 40 hour week 80 hour fortnight Adult $16.50 $132.00 $660.00… Read full post »
July 25, 2018
Best Start is a new weekly payment of $60 per child, available to eligible parents who have a baby born on or after 1 July 2018 (or babies who were due on or after 1 July 2018 but were born earlier).Everyone who is eligible will receive $60 a week until the baby turns one, no matter what the… Read full post »
July 25, 2018
From 10 July 2018, Xero Expenses are available to all new and existing standard and premium plan customers within New Zealand. This new tool takes a modern, mobile-first approach – giving accounting and bookkeeping advisors powerful visibility into how money is spent in their clients’ businesses,… Read full post »
July 25, 2018
New Zealand banks are set to freeze thousands of accounts for people who have yet to respond to requests to confirm whether they are foreign taxpayers. Under new legislation, financial institutions must find out whether their customers are tax residents of other countries and report the details… Read full post »