A Week in Review

Tax Counsel Office work programme Just in case you like to keep up-to-date of what’s on the Revenue’s agenda in terms of tax policy development (predominantly interpretation statements in the making), the July 2021 Public Guidance Work Programme 2020-21 update is now available here. Some of the items currently in progress which I am certainly […]

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The Importance Of Cyber Security For Small Businesses

It has been a commonly held misconception that large corporations are more likely to be at risk from cyber-attacks compared to small/medium organisations, mainly due to the fact that larger businesses are much more desirable due to the scale of the operation and the sensitivity of the information. However, change in technology in the 21st […]

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Interest Limitation Rules – Understanding The Basics Of The Proposals

The Government has recently released a discussion document titled ‘Design of the interest limitation rule and additional bright-line rules’. It’s a rather lengthy 144 pages, and as the title suggests, the document not only discusses the proposed ‘interest limitation rules’, but also provides commentary surrounding some proposed additional bright-line rules. Before I get into the nuts […]

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A Week in Review

Non-cash dividends IS finalised  IR has now released its final version of IS 21/05 titled ‘non-cash dividends’. The statement considers when a transfer of company value from a company to a shareholder is treated as a dividend for tax purposes. It focuses on the types of non-cash transactions that are often entered into between small […]

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Shareholding – Looking At Transferring?

Quite often, a company holding a family business may need to improve its ownership structure; this can mean transferring shares from ‘individuals’ into ‘trusts’. Common situations where this occurs: Succession planning – when the controlling individuals bring family members together in an attempt to make a viable business across generations. Risk protection – when the […]

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Keeper Of Books: Out With The Old, In With The New

The old Traditional bookkeeping once involved tedious, manual, data entry, stuck behind the computer. Transactions were typed in one digit at a time, and bank reconciliations typically only happened once the paper statement was received or downloaded from an online banking platform. Paperwork needs to be filed and stored for seven years, and physical copies […]

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A Week in Review

Depreciation on commercial buildings  The passing of the Covid-19 Response (Taxation and Social Assistance Urgent Measures) Act 2020 (the Amendment Act) re-introduced the entitlement for owners of commercial buildings to claim depreciation on the building itself. Apparently, however, there has been some confusion as to the effective date of the legislative change, and in case […]

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“They Saved My Business Career.”

Our relationship with Gilligan Sheppard began 20 years ago, when my brother Paul and I had a very successful business called Ballantyne Directories. Ballantyne Directories was a Yellow Pages advertising agency with a multi-million-dollar turnover, designing and placing ads for over 500 clients throughout New Zealand. So, what led us to engage with Gilligan Sheppard? […]

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The Three C’s

For those of you who attended our recent event on business growth, you would have heard Liam Forde from ‘The Zone’ talk about the role of human engagement in successful business execution, and the tools essential to optimise that. I was introduced to Liam by a mutual friend over 20 years ago, that’s two decades of conversations with […]

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A Week in Review

Commercial accommodation expense apportionment  With last week’s AWIR solely focussed on residential accommodation (interest limitation proposals), let’s begin this week’s AWIR looking in the other direction – accommodation more of the commercial type – hotel, motel or boarding houses – and apportioning expenditure when the operator of the accommodation also lives on site.  The topic is […]

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