Did your New Year’s resolutions include making significant changes, gaining control over, or simply maintaining your business in its current form? If so, putting a plan in place will help you think through the critical aspects of your business and help you to make good decisions in the year ahead. Like a map, a plan...
Foreign Superannuation (or Pension Fund) New rules relating to the taxability of receipts from overseas pension funds (other than Australian Superannuation) kick in from 1st April 2014. They need to be disclosed and included in NZ tax returns. The tax regime relating to these receipts is complex and taxation can vary from 4.76% to 100%....
Some investors have purchased apartments with a guaranteed rental income by it being leased to a management company. As a result, this makes the leased apartment a going concern i.e. the apartment is considered an active business with an active lease to a management company. And because it is purchased as a going concern, GST...
In taking on a commercial lease for business premises, there are many things for a business owner to consider. One of these could be a request from a landlord for a personal guarantee. Generally, a landlord will require a combination of a security deposit/bond or bank guarantee as well as a personal guarantee, as security....
Many businesses that have multiple, related companies overlook the opportunity to be able to form a group for GST purposes. Whether this is due to a lack of awareness or otherwise, it may be of benefit to take a moment and consider the benefits and implications of forming a GST group. For those unfamiliar with...
Taxpayers often travel away on business and take a companion to accompany them. As a taxpayer, travel expenses incurred in the course of earning assessable income can be deductible provided there is a sufficient connection between the expenditure incurred and the taxpayer’s business activities. However, what may not be so clear-cut is whether a taxpayer...
About corporate failure, there are some common misconceptions about the liability of company directors. Operating as a limited liability company does provide a level of protection to shareholders, however, company directors can be held personally liable for debts of the company if they have breached their director’s duties. These duties are set out in Sections...
A recent Taxation Review Authority (‘TRA’) case serves as a reminder not to be complacent when it comes to lending arrangements between associated entities. One of the fundamental questions to be asked is “what has the entity used the funds for”, to determine whether or not there is the required connection between the expenditure and...
Insolvency Options It has been four years since the financial crisis hit us but some businesses are still affected by it and struggling. Others have gone into receivership or liquidation. This article attempts to identify the different options available to a company before it is closed down. When a company runs into financial difficulty, the...
Draft legislation is in the process of being finalized that will change the level of detail required in an entity’s financial statements, depending on its size. Currently, if a New Zealand company meets two or more of the following criteria, General Purpose Financial Reporting (GPFR) requirements must be met when financial statements are prepared: annual...
© Knobloch & Associates Ltd, 2026.
© Knobloch & Associates Ltd, 2026.
