Over the last few months we have witnessed history, with the majority vote in favour of Britain leaving the European Union (EU). This was a surprise to many, and sent shockwaves around the world. In the days following the vote, the value of the pound declined substantially, and this instability may continue into the future […]
Witnessing History Read More »
With positive thoughts we experience pleasant and happy feelings. Unfortunately, in the midst of winter, it is easy to lose sight of our positive thoughts where the days are short, the temperature low and grey clouds surround us. However, it is important to make the effort to maintain a positive outlook on work, family and
Greetings, We hope calving is going well this year. With a few beautiful days of sunshine and Fonterra’s promise of $0.50¢ increase, morale has certainly improved. Last week GDT showed another good lift, let’s hope this cements the $0.50¢ and may mean that they give out more than $0.10¢ before Christmas. Its springtime and the
We welcome to the team – Anna Cowan (left), our new receptionist. Anna has returned to New Zealand after being in the UK for the past 11 years. She previously worked for Imtech Inviron, a facilities management company in the UK. Breanna Tosland (right) – a part-time payroll and administration assistant. Breanna has
Review of New Zealand foreign trusts The Mossack Fonseca document leak and the major media backlash that followed has been well publicised. However, it remains unclear what role New Zealand plays in the international tax avoidance scandal and how the Government might legislate to tighten up the current rules. An independent enquiry of our foreign
Snippets…May – July 2016 Read More »
A self-proclaimed tax agent has been found by the Taxation Review Authority (TRA) to have taken an unacceptable tax position and demonstrated a high level of disregard for the consequences of claiming GST refunds over a two and a half year period. The taxpayer claimed a GST refund for five consecutive six month periods from
Slammed for gross carelessness Read More »
According to the Inland Revenue (IRD), commercial building owners should be denied a deduction for expenditure incurred in determining whether their buildings meet new earthquake protection standards. IRD’s draft Questions We’ve Been Asked pub00223, (QWBA) publication asserts that expenditure incurred on detailed seismic assessments (DSA’s) is capital in nature and therefore non-deductible because it relates
No relief for earthquake strengthening expenditure Read More »
New Regulations took effect from 1st April 2016. Any Person Conducting a Business or Undertaking (“PCBU”) is responsible for workplace health & safety. A business entity such as a company, trust, partnership or sole trader now has the primary duty under the new law to ensure health and safety of workers and other affected by
Health & Safety at Work Act 2015 Read More »
The compulsory zero-rating (CZR) of land rules have applied since 1 April 2011. The rules were introduced to combat a pattern of transactions where Inland Revenue (IRD) was paying GST refunds to land purchasers, but there was no corresponding GST returned by the vendor. Although simple in principle, mistakes are being made. To recap, the
Compulsory zero-rating of land Read More »
As seen through the media recently, errors within holiday pay calculations are more common than we’d like to think and not just limited to Government organisations. Due to the complexity of the calculations required to monitor and record holiday pay, errors or deviations from the Holidays Act 2003 (the Act) requirements can occur. This can
Holiday Pay Mishaps Read More »
