Staff News: December 2014

We are delighted to extend a warm welcome to our new Senior Auditor, Catherine McCarthy. Joining us from Audit New Zealand, Catherine brings extensive experience in public sector auditing to the busy Audit division. It is with regret that we announce that Accountant Katrina Whatmough is leaving us this Christmas. Katrina will be taking a new opportunity…

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PSL Construction Limited Scoops Master Builders Awards

Congratulations to UHY Haines Norton client PSL Construction Limited, who have been honoured with several awards at the 2014 National Registered Master Builders House of the Year Awards for a residential home in Northland’s Waipu.  In addition to the prestigious Supreme Award, the company also received the Craftsmanship Award and the Westpac New Homes Over $2…

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2014: The Year In Review

A snapshot of some of the major events from 2014. Royals the Duke and Duchess of Cambridge and baby Prince George spent 9 days visiting New Zealand and charming everyone they met.  In September it was announced that the couple are expecting their second child, due in April 2015. New Zealand singer/songwriter Lorde has continued…

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New Zealand’s Low Tax Burden for High Earners

Service graphic_corporate tax_1_RGBEastern Europe and emerging economies offer most generous tax regimes for highest earners.

New Zealand has one of the lowest tax burdens for high earners of any major economy, according to a new study by UHY, the international accountancy network.

New Zealand has the 8th lightest tax burden out of 25 countries, ranked by UHY according to how much tax and social security it takes from its highest earners’ wages (on a salary of US$1.5m – see table below).

UHY notes that New Zealand is making itself more attractive to high earners than neighbouring Australia, which levies 46% in tax on a salary of US$1.5m, compared to New Zealand’s 32.6%. However, UHY also notes that New Zealand does not have a compulsory retirement savings scheme and individuals do not make social security contributions other than as part of normal Income Tax and ACC levies. Instead, individuals have the choice not to participate in KiwiSaver or choose to contribute 3%, 4% or 8% of their gross earnings. The data used in this survey assumes that the individual has chosen not to participate in KiwiSaver, even though there are significant incentives for participation. Furthermore, retirees’ are also entitled to a state-funded pension and any savings amassed through KiwiSaver are intended to supplement the pension.

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Staff News: October/November 2014

Congratulations to our resident hockey star, accountant Katrina Whatmough.  Katrina plays fullback for Waitakere Hockey, and has received her team’s Most Valued Player award and the club’s Women’s Player of the Year award for 2014.  In addition, Katrina was nominated for and is now a finalist for a Sport Waitakere Excellence “Sporting Acknowledgement” Award, to…

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