Read our insights

A consultation paper released by IRD is a reminder that charities and NFPs need to think hard about tax compliance to ensure they get it right. Because they often don’t pay income tax, those managing NFPs often see tax as less of a priority than their private sector equivalents.

You’ve been working hard your whole life, and you’ve built up assets that are worth protecting: a profitable business, a portfolio of investments, and a good reputation. But, can you turn that success into generational wealth?

As 31 March 2025 approaches, it’s time for most businesses across New Zealand to get their financials in order – an often time consuming and stressful task. Whether you’re a small business owner or running a larger operation, with a bit of planning, you can wrap up the financial year smoothly and set yourself up for success in the next one.

New Zealand residents pay tax in Aotearoa on world-wide income. Simple enough. But what about people who only live here sometimes, or intend to move to another country?

The External Reporting Board (‘XRB’) has recently published a new standard, NZ IFRS 18 ‘Presentation and Disclosure in Financial Statements’. It replaces NZ IAS 1 ‘Presentation of Financial Statements’ and will impact every reporting entity currently reporting under New Zealand equivalents to International Financial Reporting Standards.

Prevention is better than cure: That’s Inland Revenue’s perspective on tax compliance for multinationals. It wants to make compliance easy and non-compliance difficult, by helping customers early, providing clear guidance and keeping costs down.

The 2024 financial year has been characterised by significant challenges and an economy in recession, however, businesses are beginning to see glimmers of hope on the horizon.

Whether you’re a vendor or a purchaser considering consolidation as a viable option for your brokerage, there are industry-specific challenges and considerations you’ll need to overcome to deliver successful outcomes beyond the completion of the transaction.

Reduced consumer spending. Finding talent. Rising interest rates. Inflation. Supply chain challenges. Escalating global conflict. To say doing business is difficult in New Zealand (or anywhere) right now is an understatement.

Many Kiwi businesses eventually outgrow their systems and processes. Their financial, governance and management systems were a perfect fit when the business was smaller – but now, they’re hindering growth, not helping it.

Putting responsible business practices in place is often an overlooked opportunity to invest in the future of your business. ESG expectations and obligations are rising. Unfortunately, this can be perceived as a negative: a cost to be faced, a risk, and an annoying box-ticking exercise. However, it’s time to flip the script and seize this opportunity to build a better, more resilient enterprise.

‘Can we get some consolidated accounts?’ It’s a question you might hear from your bank if your business has a few different entities. It might sound like a simple request, but it may be a little more complex.

This year has been a tough one for many industries. The pain has been widespread, so many business leaders are reassessing their operations. They’re asking: What’s working and what needs to be improved? How can we increase productivity? Can we use AI to overcome challenges? And is it time to develop new products or services, or refine existing ones?

The recent EBOSS Builder Sentiment Report reveals a stark outlook for New Zealand's property sector. According to the report, 70% of builders anticipate a decline in building activity over the next 12 months, with 62% of respondents citing the current economic climate as a significant concern in the residential market. This widespread pessimism underscores the urgent need for targeted interventions to stabilise the industry and prevent further decline. If left unaddressed, this negative sentiment risks not only stalling the construction of much-needed residential dwellings but it could also prompt a potential exodus of skilled tradespeople seeking opportunities abroad. As one respondent in the report noted, "The lack of certainty is pushing good people out of the industry," highlighting the immediate need for solutions that can restore confidence and retain talent. Why Build to Rent? Build to Rent (BTR) offers a unique opportunity to address two pressing issues simultaneously: the shortage of affordable housing and the current lull in construction demand. The EBOSS report identifies a "softening market" as a major challenge, with the majority of builders expecting fewer new builds in the coming year. BTR developments, which involve constructing residential properties specifically for long-term rental, can provide a steady stream of quality housing for New Zealanders while keeping the construction sector active. However, the economic conditions and prevailing uncertainty have made New Zealand less attractive to institutional investors who might fund these large-scale projects. By introducing targeted incentives, such as rebates on qualifying BTR expenditures or tax breaks for large-scale residential developments, the Government could significantly improve the financial viability of these projects. This would not only attract much-needed investment but also ensure that the building sector remains engaged, even during periods of economic downturn. Preventing a talent drain The EBOSS report notes 45% of builders are considering reducing staff numbers, a move that could lead to a significant drain of expertise from the industry. If domestic opportunities continue to dwindle, there is a real danger our most qualified and experienced workers will seek employment overseas, leaving New Zealand ill-prepared to meet future demand when economic conditions eventually normalise. By incentivising BTR projects, the Government can help maintain a robust pipeline of work for builders and tradespeople. This, in turn, will keep our skilled workforce engaged and prevent a depletion of expertise that could otherwise take years to recover from. The long-term nature of BTR projects means that once established, these developments will continue to generate employment and economic activity, creating a more resilient property sector overall. The challenges facing New Zealand's property sector are significant, but they are not insurmountable. The EBOSS Builder Sentiment Report clearly illustrates the depth of concern within the industry. By taking a proactive approach and implementing targeted incentives, the Government can help steer the industry through this period of uncertainty. Incentivising Build to Rent projects represents a strategic investment in the future of both our housing market and our construction workforce. It is a solution that not only addresses immediate concerns but also lays the foundation for a more stable and prosperous property sector in the years to come.

When it comes to company valuations for legal disputes in New Zealand, the parties to a dispute, working with their professional advisors, face an important decision at the outset of the engagement: should they commission an AES-2 valuation or opt for an indicative valuation?

We are living through a time of economic volatility, geopolitical tension and a mental health epidemic – all set against the gloomy backdrop of climate change. It feels like there are enough fires to fight every day without worrying about some distant future that we can’t possibly predict.