On 20 May 2013 the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Bill was introduced into Parliament.

The 2013 Budget once again comes with no surprises. The clear message coming through from the Government is their belief that careful stewardship of public money is key for the success of all New Zealanders. However it is a Budget with caution. The Government has earmarked an increase in spending on “new initiatives” of around $5.1b over the next 5 years. This is on the back of forecast surpluses from 2014/15. Given the events that have significantly impacted our economy over the last few years (GFC and the Christchurch earthquake), in comparison to many of our trading partners this would seem to be a good result. But will the spending on new initiatives be channelled in the right direction and is it enough?

The Inland Revenue has advised that its 2013 review of the mileage rate has been delayed and the rate for the 2013 income year is not expected to be released until early July 2013.

Many charities and other organisations in the not for profit (nfp) sector are heavily reliant for their on-going viability on funding from various philanthropic funders. So what are some key trends from philanthropic trusts, foundations or individuals that these charities and nfps should be aware of?

By now you should have received four MOE updates on financial reporting and payroll matters, the most recent of which was issued last week. These updates are giving clear and concise guidance on Novopay matters.

The extension of the current banking staffing balancing period has been extended until 31 March 2014. This means that schools will carry over a staffing balance from 2012 into 2013, and there will be no automatic reimbursement of under-use or recovery of over-use during 2013 by the Ministry.

You might remember that in previous years we have required the year end SUE summary report to be signed by the principal and board chairperson as confirmation that the employees and amounts paid appear correct. We now need you to do the same for this year.

Not unsurprisingly as the issues have become clearer the OAG has recently requested that we perform some additional work relating to Novopay. This is in addition to work we have already done.

It’s that time again where businesses need to start getting their records ready for their accountant to prepare their annual accounts and tax returns. Investing time to gather all the information needed to ensure your records are clear, complete and concise can reduce the amount of time your accountant needs to spend preparing your annual accounts - which should result in a smaller accounting fee!

Whilst activist and US fundraiser Dan Pallotta is a little controversial in being gay and a father of triplets, and because of some of the charities that he has raised the profile of, this TED video is a really interesting challenge of thinking.