After 114 years, the legislation around Incorporated Societies in New Zealand has been updated. Moore Markhams audit partner, Andrew Steel has reviewed the legislation and shares the key changes to be aware of.

Moore Markhams Auckland’s new associate, Anson Lam is thriving on the opportunities her role is providing her. Anson was appointed an associate of the Auckland firm in April.

Overall, the Auckland legal sector has remained buoyant through the past few years of Covid disruption. This is one of the insights from the 2021 Moore Markhams Auckland legal practitioners’ performance survey just released. Read more here.

On Tuesday 28 September, the Government released the draft legislation outlining the details of the policy limiting the deductibility of interest costs for residential property investments.

A well-designed family-held business succession plan can articulate the vision and values of the founders and help ensure a smooth transition to the next generation. From our experience, many leave succession planning too late. We share some of the key questions that a family should be asking if it wants its business to thrive from one generation to the next.

The Moore Markhams group has been strengthened with a new Christchurch member firm joining our national business advisory and audit network.

Labour has ruled out a capital gains tax and an increase in fuel taxes but is prepared to introduce a Digital Services Tax to target multinational digital businesses who have taken advantage of tax structuring options.

James Clear’s book, Atomic Habits, is a Gamechanger. If you struggle to make habits stick, stop focusing on habit outcomes and consciously adapt your identity to be the person that aligns with your habit.

As New Zealand moves down the COVID-19 alert levels businesses face a long transition period from the unknown to the ‘new normal’.

Touted as a once in a generation Budget, yesterday the Government announced a $50 billion COVID-19 Response and Recovery Fund, $20 billion of which remains uncommitted and will be allocated in the months to come. This fund builds on top of the initial $12.1 billion package, and the $12 billion New Zealand Upgrade Programme announced in January.

From 11.59pm on Wednesday 13 May, New Zealand moves into Level 2. Here’s some key points.

Working from home? The commute’s a breeze, the pantry is on tap and you haven’t ironed a business shirt in weeks. But don’t drop your guard just yet.  Now that you’re working outside your controlled office environment you need to stay vigilant when it comes to protecting your business information.

We have pulled together links to websites and information to make it easy for you to find what you’re looking for.

The Government has announced (April 15) a further set of tax proposals to help businesses manage the impacts of COVID-19.  In summary:

Keeping on top of your invoicing requires a proactive strategy. Sometimes it just takes a phone call. Here’s some other tips:

During the ongoing coronavirus crisis, many sectors are seeing income either disappear completely or drop to dangerous levels.

You might have been contacted by your bank to fill in a form enquiring about your CRS status. In simple terms, CRS stands for Common Reporting Standard.

If you pay your provisional tax one day late you come out of what is called the Safe Harbour scheme.

There have been several tax changes recently. Some of the important ones are listed here:

If you’ve received a wage subsidy, don’t treat it as being part of sales.

Having a plan to deal with the fallout from the COVID-19 pandemic is going to be critical to business survival.

If you have applied for or have received the COVID-19 Wage Subsidy, you must still undertake best endeavours to pay the employees named in your application, at least 80 percent of their usual wages.

The rapid escalation of New Zealand’s official response to COVID-19 is having impact on our business community - in some cases, it’s already significant. We believe that business owners and managers, ourselves included, will find dealing with the coming months challenging.  We want to assure you that we are here to support you.