Two recent (connected) cases at the Taxation Review Authority (TRA) demonstrate that unnecessarily complex transactions can raise a red flag for IRD. Both cases related to a taxpayer referred to as Mr Brown, who acquired a 2/3 interest in a joint venture known as the NPN Partnership (NPN) back in 1981. NPN held several residential […]
Court case – tax avoidance arrangement Read More »
Good corporate governance is often viewed as important for large companies with an established board of directors. However, the principles that underpin good corporate governance can benefit any organisation, irrespective of size. Why is it then that the term governance often raises alarm bells with small business owners? Perhaps it’s the fear of losing control
Corporate governance for small businesses Read More »
Hi All, In the lead up to Christmas our business is frantic getting GST and Tax Returns completed. By the 24th we will all be looking for a place to put our feet up and enjoy some family time. Our New Plymouth office is gaining favour with our northern clients who are finding the location
What do Accountants suffer from that ordinary people don’t? Depreciation Why was Mark Hughson so excited that he completed a jigsaw puzzle in only 59 weeks? Because on the box it said 8 – 12 years Where do homeless accountants live? In a tax shelter What kind of things does a
Mark Hughson, Pottsy and Anna are walking to lunch when they find an old oil lamp. Anna rubs off some of the grime and a Genie comes out in a cloud of smoke. The Genie says “I only grant three wishes, so I will grant one for each of you”. “Dibs on the first one!”
WHY WE NEED TO ASK YOU FOR INFORMATION? New Zealand has passed a law called the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“the AML/CFT law” for short). The purpose of the law reflects New Zealand’s commitment to the international initiative to counter the impact that criminal activity has on people and economies
Anti-Money Laundering Legislation Read More »
The idea of a four-day working week might previously have seemed like a dream, but one Kiwi company is looking to make it a reality. Perpetual Guardian recently concluded an eight-week trial of the shortened working week, with managing director Andrew Barnes, claiming it was a “massive success”, adding that he wants it to become
Four-day working weeks Read More »
Labour’s pre-election manifesto proposed to increase the fairness of the tax system and improve housing affordability. In the six months since the Labour-led coalition entered Parliament, we have started to see some changes filtering through. As part of the proposals aimed at house prices, Inland Revenue has recently released an Issues Paper proposing to ring-fence
Ring-fencing rental losses Read More »
The Labour coalition made immediate changes when they were elected into government, starting with repealing National’s planned tax bracket changes. Labours new ‘mini-budget’ is intended to benefit low-income earners, middle-income families with children and lift children out of poverty. The package entails: Increasing the Family tax credit by between $575 to $1,400 per year. Increasing
Mini-budget – Families Package Read More »
“Movember” “Huey, Dewey & Louie” ??? Pictured are Mark Potts, Mark Hughson and Daniel Keller. Each took on the challenge to grow a “Mo” in November. Pottsy was late off the starting blocks but not a bad effort for eight days growth.
