Month: November 2012


Have you invested in Ross Asset Management?

By Phil Barlow – 30 November 2012 The recent receivership of the Ross Asset Management Group has certainly gained a lot of media attention. It was reported the receivers of the Group, PwC, have only been able to uncover $11 million of assets in a company that was thought to have investments worth around $450 […]

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Simple Format Financial Reporting Coming

By Hayes Knight – 26 November 2012 The External Reporting Board (XRB) is doing some great work developing the new accounting standards and guidance for Not For Profit entities that are able to apply Simple Format Financial Reporting. These are Tiers 3 & 4 entities – click here to view table The needs of Not […]

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Review of Charities Definition

By Hayes Knight – 26 November 2012 Minister for the Community and Voluntary Sector Jo Goodhew announced that Cabinet has decided not to proceed with the long-promised review of the definition of charity in the Charities Act. Sadly this is a complete U-turn from Cabinet’s decision on 1 August 2010 that the review would begin […]

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Hayes Knight clients Villa Maria Estate and Kokako win awards!

By Hayes Knight – 26 November 2012 Hearty congratulations to Hayes Knight clients Villa Maria Estate and Kokako at the recent NZI National Sustainable Business Network Awards! Villa Maria Estate won the NZI Sustainable Business of the Year in the Trailblazer Large Business category.  A fantastic acknowledgement for their consistent long term effort and innovative […]

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FBT Exemption for Charities

By Hayes Knight – 26 November 2012 Back in April 2012 we alerted you to a tax policy proposal which could have seen charities losing their existing tax benefit of not having to pay Fringe Benefit Tax. After some good work from within the sector we are delighted to see the announcement from Revenue Minister […]

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Compulsory Audit for Larger Charities

By Hayes Knight – 26 November 2012 The Ministry of Business, Innovation and Employment (MBIE), the new Government Ministry combining the previous Ministry of Economic Development, is now intending to release a further issues paper regarding their proposals to legislate that larger charities have their annual financial statements audited. This follows a wide range of […]

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Time for a spring clean

By Hayes Knight – 19 November 2012 It’s that time of year when the weather starts to warm up and we start to think about all those jobs that we have been putting off over the winter months. As the school year comes to a close, it’s also a great time to think about the […]

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Annual reporting circular and filing your financial statements

By Hayes Knight – 19 November 2012 The MOE’s annual reporting circular is hot off the press. Great News – Limited changes! The circular confirms that there are no significant changes required for the 2012 financial statements or reporting time frames. It is still important to read this circular. It contains useful information including an […]

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Is your accounting package still a good fit?

Is your accounting package still a good fit? Hayes Knight New Zealand By Amanda Billington – 8 November 2012 Good old Kiwi ingenuity has seen many businesses “tack on” and “patch up” their accounting software systems to enable them to keep operating without having to go through the expense of an upgrade. But at what […]

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Is your accounting package still a good fit?

Good old Kiwi ingenuity has seen many businesses “tack on” and “patch up” their accounting software systems to enable them to keep operating without having to go through the expense of an upgrade. But at what expense? For the past few years many businesses have “put off” investing in their accounting system in favour of […]

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