Staff News: April / May 2014

Congratulations to Jim Martin (Head of Tax), Michael Jamieson (Business Improvement Manager) and Bhavin Sanghavi (Audit Manager), who have all been awarded their Certificate of Public Practice (CPP).  The New Zealand Institute of Chartered Accountants issues a CPP to Chartered Accountants who meet a number of criteria including experience, qualifications and training requirements, as well…

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Taxing Matters: April / May 2014

Taxing Matters provides a summary of topical tax and business information relating to individuals and business.

Important Tax Dates   Individuals and entities required to file a tax return for the 2014 year and who do not use a tax agent are required to file their return by 7 July 2014.  Individuals and entities who use a tax agent have until 31 March 2015 to file their 2014 returns.

Low Value Assets   Business assets costing less than $500 (including GST if not GST registered and excluding GST if registered) can be fully expensed in the year of purchase for tax purposes and are not required to be capitalised and depreciated.

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Westpac Auckland Business Awards – West 2014

      The Auckland Chamber of Commerce and Auckland Tourism, Events and Economic Development (ATEED) are partnering to present the Westpac Auckland Business Awards in 2014.  Entering the prestigious Westpac Auckland Business Awards – West 2014, gives companies the chance to benchmark their processes with the most successful businesses across all of Auckland, and…

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Marketing Tips: Have A Plan

UHY Haines Norton Marketing Co-ordinator Debbie Robson looks at the value a Marketing Plan provides to businesses. 

By definition a SME has up to 20 employees – which often does not allow for a dedicated marketing function.  But investing time in creating a Marketing Plan for your business is a vital step that should not be overlooked.

A Marketing Plan forces businesses to take stock of their current situation and the market they operate in, as well as determine where they want to go and – crucially – how to get there.  A business without a current Marketing Plan simply lacks direction, and at best will continue running as “status quo”, or at worse will lose sales/clients/market share to less complacent competitors.  Any marketing spend runs the risk of not being targeted to help achieve goals, effectively wasting hard-earned dollars.

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A New Playing Field for Auditors

The Auditor Regulation Act came into force on 19th May 2011 and has significantly changed the playing field for auditors in New Zealand.  From that date forward, all auditors who are issuing audit opinions for Sungesh Singhissuer clients have to be fully licenced and practising from a registered firm.  The responsibility of the new regulatory regime is overseen by the Government through the Financial Market Authority, and in simple terms we have found them a tough bunch to deal with!

The aim of the new regulatory environment is to increase confidence for participants active in capital markets and to also become closely aligned with our trading partner, Australia.  In essence, if the audit firm is an active participant in capital markets then the requirements for issuing an audit opinion has clearly been taken to the next level!

 

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