Month: May 2013


Foreign Super Tax Bill

| Newmarket Accountants|Tax Advisors| 2013 Taxation Bill By Shelley-ann Brinkley – 23 May 2013 On 20 May 2013 the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Bill was introduced into Parliament. The key proposal in the Bill is changes to the taxation of foreign superannuation with the aim of making the rules simpler and […]

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2013 Budget – A cautionary tale….

By Phil Barlow – 16 May 2013 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 […]

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2013 IRD mileage rate delayed

By Shelley-ann Brinkley – 13 May 2013 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. Employers often use the IRD mileage rates as a reasonable estimate of motor vehicle […]

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Philanthropic Funding Trends – What’s our impact? and fewer, deeper, longer

What’s our impact? and fewer, deeper, longer 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? Ask any […]

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Schools Payroll Summary Report Certification

By Hayes Knight – 2 May 2013 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. Given the […]

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School – Additional Audit Requirements

By Hayes Knight – 2 May 2013 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. In a number of instances, if our audit team has already visited you, this may mean […]

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Novopay Update

By Hayes Knight – 2 May 2013 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. We understand that further updates will be issued where there is a need.  […]

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Banked Staffing Update

By Hayes Knight – 2 May 2013 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. […]

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