Increase in Small Business Audits

Evidence shows there has been a clear increase in audit activity among small New Zealand businesses in the last financial year. Supporting our own recent experiences of clients being targeted by Inland Revenue, the providers of our tax audit insurance offering Audit Shield have published figures indicating substantial increases in both the premium pool and…

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Check Your PIR Every Year

The Prescribed Investor Rate (PIR) is the tax rate that is applied to the taxable investment income earned on your savings under Portfolio Investment Entities (PIEs). Typically your KiwiSaver investments will be PIEs. Favourable tax rates were applied to PIEs when they were created several years ago in order to encourage New Zealanders to invest…

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New Changes to Paid Parental Leave

Prospective parents, business owners/operators and managers should all be aware of new changes the Government is applying to paid parental leave. From 1st April 2016 staff are entitled to receive a total of 18 weeks of government-paid parental leave. This is an additional two weeks over the previous entitlement of 16 weeks. The paid parental…

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ACC Levy Changes

The residual portion of your ACC levy has been removed. The change came into effect on 1st April 2016 for the Work and Earners’ Accounts, and will come into effect on 1st July 2016 for the Motor Vehicle Account. Previously the Work, Earners’ and Motor Vehicle ACC levies have consisted of two parts: a current…

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Len Kumar: Creating a Community

Len Kumar, Manager in our Business Services department, and the Shri Ram Mandir Charitable Trust are fostering the unity of the Indian community in West Auckland with the creation of the first of its kind Hindu temple and community centre. The $5m, three-level complex is located at 11 Brick Street in Henderson. An experienced Chartered…

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Staff News: April/May 2016

Accountant Lalita Robertson has welcomed her first baby, a beautiful daughter named Kayla Jade Robertson born on 14th April 2016. Lalita and Kayla are both doing really well and we can’t wait to meet Kayla in person.                     Congratulations to Accountants Pushpa Subramaniam and Wendy Dong,…

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IRD Enquiries – DIY?

UHY Haines Norton’s Managing Director Grant Brownlee explains the IRD’s increased focus on small businesses. I recently had the opportunity to listen to an IRD policy maker explain what direction they are taking with their revenue collection policy. He indicated that pressure is regularly applied by Government Ministers on policy makers to find new ways…

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