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IRD & TaxDon’t always believe what you hear
Recently, in Budget 2024, Inland Revenue (IR) was allocated $116m to tackle tax debt and compliance. The latter focus areas, for at least the 2024 – 2025 financial year, will be:
the hidden economy and organised crime;
electronic sales suppression tools;
GST integrity;
student loan overseas-based borrowers; and,
increased audit activity.
Personally, the last of these five focus areas [...]
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Wealth & Succession Points to Note
An owner and director of a 150-year-old Auckland iconic business, an Auckland accountant who has been building, guiding, and governing businesses for at least 35 years, and two second-generation (G2) owners who, through tragic circumstances, suddenly found themselves at the helm of their family businesses. They all walk into a bar… Well, not into a […]
Led by a purpose of saving lives and livelihoods
Argus Fire Protection designs solutions to protect life, property, and assets from fire. Founded in 1981 as a sprinkler contracting company, it consisted of a few old vans and a team of five hard-working sprinkler fitters. In the late 80s, Jacqui’s father Erle Bensemann responded to an advertisement placed by Gilligan Sheppard to sell an […]
There is no new normal – business principles
Times of exuberance and despair pass. Times where capital or labour is scarce also pass. The constant through all of this is that individually, all humans seek to maximise their utility. For some it’s money, others it’s power, knowledge, connections, belonging, or spirituality. The individual utility that humans seek is very diverse (microeconomic imperatives). However, […]
Tanya’s secrets to problem-solving
How do you solve a problem like Maria? You can send her to live with a widower and his seven children in Austria, but most problems aren’t that easy to solve. Quite often we’ll come across a problem and half the battle is working out where to start because if you don’t know where to […]
Changes to domestic trusts
The IRD has introduced changes to the annual reporting requirement for domestic trusts for the 2022 income tax year onwards. The reasons for the changes are to better understand and monitor the use of Trusts and their financial position. So, what does this mean for you? If you have an active trust that earns assessable […]
