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When uncertainty is the new normal, standing still isn’t an option. From cashflow management to supply chain, when major events or market changes cause disruption, it’s critical that organisations continuously strategise against their unique level of vulnerability in order to keep moving forward.

As you are most likely aware, there is a range of grants available from Government. Please get in touch with us if you need support or advice about Government support available.

Government will implement temporary changes to the Companies Act to protect jobs and income, and to reduce COVID-19’s overall disruption to the economy.

As NZ begins its recovery, businesses must now start building resilience against future potential disruption.

Grant Thornton New Zealand is delighted to announce the appointment of three new partners who have been active participants and influencers in the NZ cloud market for over a decade.

In this issue of Business Adviser we cover how the fringe benefit tax rate increase will affect your business and changes to the Incorporated Societies Act. We also offer our insights into various areas of Budget 2021 and new legislation for sale and purchase agreements.

For well over 100 years the Incorporated Societies Act 1908 has enabled community related organisations to become incorporated for a wide variety of purposes. However, this Act is now outdated and deficient in many respects.

Our summary of the key facts that are relevant to you and your business.

Our industry experts weigh in on what Budget 2021 means for certain sectors as well as New Zealand’s tax landscape.

From 1 April 2021, a new 39% personal tax rate applies on income above $180,000. To ensure a consistent taxation of non-cash benefits, FBT rates have also significantly increased.

The economic impacts of COVID-19 will continue to persist well into 2021. Our borders remain substantively closed and the nationwide roll out of a COVID-19 vaccine is yet to commence in New Zealand. This means that teams which perform inhouse impairment testing need to consider how the ripple effects of the pandemic will influence their financial statements over the next 12 months.

New Zealand needs more houses. Yet despite the simplicity of that goal, it’s been impossible to keep up with demand. This problem has persisted through both National and Labour Governments – several of each.

Read our two-part series about New Zealand’s housing crisis by procurement expert, Michael Worth. We also reveal the findings in this year’s Grant Thornton Women in Business Report, and how you can retune your business by pausing for a pit stop.

If you think the rental crisis doesn’t affect you, you’re wrong. Maybe you think you’re not affected because you own your own house, and you’re not a landlord. Wrong. New Zealand’s rental crisis isn’t only causing homelessness and poverty, it’s dragging down wages, stifling innovation and suppressing productivity for the whole country.

In a bid to ease New Zealand’s housing crisis, the Government has introduced new legislation that will impact current owners of residential investment property and new purchases made on or after 27 March 2021.

The number of women holding senior leadership positions in mid-market businesses globally has hit 31% despite the COVID-19 pandemic affecting economies around the world, according to Grant Thornton’s annual Women in Business report.