Month: July 2012


Financial education for our youth

By Hayes Knight – 16 July 2012 The following article recently appeared in the National Business Review referring to some simple lessons from the world’s most successful investor boiled down for youth As accountants our fundamental role is to help improve lives via better financial understanding. This is a core part of our raison d’etre […]

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Annual Returns soon to incur filing fee

By Hayes Knight – 16 July 2012 With the 2012 Annual Returns due it is quite timely that the Companies Office has chosen to introduce changes to their service fees. The changes come after reports of funding deficits and it is believed that the new fees will better reflect the true cost of servicing users […]

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When are repair and maintenance costs deductible?

By Phil Barlow – 13 July 2012 To say Kiwis are passionate about DIY is probably an understatement. But a recurrent issue faced by many New Zealand taxpayers is whether what they spend on “repairs and maintenance” is tax deductible, or whether it must be capitalised. The answer to this is often not clear cut. […]

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NOVOPAY and your school

As we all know, change is the only constant! The Ministry of Education’s decision to change the school payroll system has been flagged for some time but the system is now ready to go. From the 20th of August, NOVOPAY is going to manage New Zealand’s biggest payroll of around 110,000 school staff. Are you […]

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Will forcing compliance work?

By Hayes Knight – 9 July 2012 Will proposed legislative assurance requirements instil a new found respect for accounting standards and the important role they play, or will it just be an unnecessary compliance cost? As noted in an earlier article, the Ministry of Economic Development’s (MED) is proposing to enact mandatory audit and assurance […]

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Taxing all the toys

By Phil Barlow – 4 July 2012 Perhaps the most controversial changes for many Kiwis to come out of the 2012 Budget are those that impact taxpayers’ ability to claim deductions for costs on private assets which can also be used to bring in additional income. These are called mixed-use assets and include the boat, […]

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