Spring 2017

Meet Our Talent

November 21, 2017
Andrew Kidd, Associate. Andrew has 8 years’ experience at Nexia Chartered Accountants, working with a variety of clients across multiple industries which include Medical Practitioners & Property Investors. His diverse client base allows him to apply his knowledge across varying client scenarios. He particularly enjoys working with clients to assist them in fully understanding not only their tax obligations, but also what the numbers mean.

GST Made Easy

November 16, 2017
Do you hate it when GST return time rolls around? If so, you’re in good company. For many business owners, the pain isn’t so much having to hand money over to IRD, but having to prepare and file a return. But that pain is easy to avoid. Here’s how: If we complete your returns, of course everything will be done for you If you still file your returns manually – register for a myIR account here. If you are GST registered...

Nexia Christmas Close Down Dates

November 16, 2017
With the approach of the Festive Season, the Partners and staff at Nexia would like to extend a very Merry Christmas to you and your family and our best wishes for a New Year filled with health, happiness and prosperity. We are looking forward to working with you in 2018. Our office will be closed from 12noon on Friday, 22 December 2017 and will re-open at 8:00am on Thursday, 11 January 2018. January 2018 GST If your GST is due on...

NZ Trust Law to be Overhauled

November 13, 2017
Parliamentary plastic surgery is in store for the Trustee Act, to make trust law easier to access and understand. On 1 August, Justice Minister Amy Adams introduced the Trusts Bill to Parliament. This will be the first significant change since the introduction of the Trustee Act 1956. Although we have had a change of government, we do expect that this will still go through in current format and at this stage a date is yet to be set. The old Act...

Business Culture tied to Business Performance

November 10, 2017
While it’s easy to think of business culture as a bit soft compared with, say, achieving sales, in fact it’s anything but. A 2014 study reported that public companies named in a “Best Places to Work” list in 2009 outperformed the S&P 500 by 115 percent in the following five years. The Glassdoor study suggests that a culture that engages and motivates employees helps the bottom line. But the reverse isn’t true: A company’s success isn’t enough to produce a positive...

Inland Revenue Update

November 10, 2017
We have written recently to Inland Revenue (IRD), raising the issue of a number of occasions whereby IRD staff have contacted clients directly instead of contacting us as your agents in the first instance. We are reminded of a communication protocol issued six years ago that remains in place to this day. Please note some responses from IRD in italics. “In summary, specifically around debt and returns, the agent (that’s us) will receive a letter advising of the outstanding debt or...

Protecting your Business from Cybercrime

November 10, 2017
The internet has become the essential infrastructure for most businesses around the globe. But with increased connectivity comes unprecedented risk of fraud, theft and abuse. The digitised world is growing at a phenomenal pace, transforming the economic, political and social landscape around the world. The falling costs of technology have fuelled rapid digitisation of developing economies in Africa and other regions, bringing huge benefits to disadvantaged people, including to those without bank accounts or access to electricity. However, businesses and government...

Successful Cashflow Forecasting and Budgeting

November 8, 2017
Raising funds or refinancing? Then it is highly likely that a budget or cash flow forecast will be required to support an application for funding to ensure its success. These forecasts are used in the application process to give the financier comfort that the applicant can meet its repayment obligations. Nexia New Zealand recently assisted Shopping Centre Investments Limited (The Hub Hornby shopping mall) with their successful $72.5million refinancing and $13.781million Convertible Notes issue. In a tough climate, the Convertible Notes...