Grant Thornton uses cookies to monitor the performance of this website and improve user experience

To find out more about cookies, what they are and how we use them, please see our privacy notice, which also provides information on how to delete cookies from your hard drive.

Featured topics
Growth insights
Business Adviser, Q4 2018
In our last edition of Business Adviser for the year, we explore ways in which charities can measure impact to achieve their mission. You can also find out if your business fulfills the requirements to qualify for the new R&D tax credits, and we take a look at key considerations to keep in mind when taking out a new lease. For all these stories and more, download your copy.
Business innovation
Will your business qualify for the new R&D Tax credits?
Earlier this year, the Government released a proposal to incentivise R&D activity for New Zealand based companies via a new tax credit regime. Draft legislation has since been released, with the new R&D tax credits expected to be available from the tax year commencing 1 April 2019.
Technical guides
Tax working group: summary of recommendations
While the Tax Working Group’s (TWG) much anticipated final recommendations don’t dramatically deviate from its interim report, a deep dive into the details might reveal measures that, if implemented, will significantly impact New Zealand businesses. Watch this space for more in-depth commentary in the lead up to Government’s recommendations in April; in the meantime, here’s a summary of the Group’s report.
Technology
Is blockchain right for your business?
Originally created as the technology to support digital currency 'bitcoin', blockchain has been seized upon by the financial services sector, where it is playing a crucial role in tracking and authenticating transactions.
Governance
Engagement beyond the boardroom
How can boards build wider stakeholder views and expectations into the strategy and management of the business?
Diversity & talent
Recommendations for business leaders to increase gender diversity
The slow pace of change in gender diversity at a leadership level indicates there needs to be a shift in NZ’s business culture.
Latest articles
Search
Insight Tax working group: summary of recommendations
While the Tax Working Group’s (TWG) much anticipated final recommendations don’t dramatically deviate from its interim report, a deep dive into the details might reveal measures that, if implemented, will significantly impact New Zealand businesses. Watch this space for more in-depth commentary in the lead up to Government’s recommendations in April; in the meantime, here’s a summary of the Group’s report.
IFRS Insights into IFRS 16
Are you ready for IFRS 16? This series of insights will help you prepare.
IFRS Insights into IFRS 16: Sale and leaseback accounting
A sale and leaseback transaction is a popular way for entities to secure long-term financing from substantial property, plant and equipment assets such as land and buildings. It is a transaction where an entity (the seller-lessee) transfers an asset to another entity (the buyer-lessor) for consideration and leases that asset back from the buyer-lessor. IAS 17 covered the accounting for a sale and leaseback transaction in considerable detail but only from the perspective of the seller-lessee. As IFRS 16 has withdrawn the concepts of operating leases and finance leases from lessee accounting, the accounting requirements that the seller-lessee must apply to a sale and leaseback are more straight forward. In addition, IFRS 16 provides an overview of the accounting requirements for buyer-lessors too. Our publication explains the new concepts and provides a simplified example of the requirements.
Technical publications IFRS news
IFRS News provides insights about developments in International Financial Reporting Standards (IFRS).
IFRS Insights into IFRS 16: Interim periods
This article relates to the topic of ‘Interim periods’. IFRS 16 must first be applied to accounting periods beginning on or after 1 January 2019, including interim periods beginning on or after that date. This article considers the application of IFRS 16 in those interim periods and any differences that may arise compared to the requirements of IAS 34.
IFRS Insights into IFRS 16: Transition choices
This article ('Transition choices') relates to the important topic of transitioning to the new Standard and the methods described in IFRS 16. Many recent accounting standards include transition reliefs to assist in adoption in order to make first time application simpler, and IFRS 16 is no exception. What we set out in this article are the choices that are available and we discuss some of their practical implications.
ARTICLE Will your business qualify for the new R&D Tax credits?
Earlier this year, the Government released a proposal to incentivise R&D activity for New Zealand based companies via a new tax credit regime. Draft legislation has since been released, with the new R&D tax credits expected to be available from the tax year commencing 1 April 2019.
Technical publications Example financial statements
Grant Thornton has prepared a number of example financial statements which have been tailored to suit a number of different scenarios.
IFRS Insights into IFRS 16: Lease term
This article relates to the important topic of ‘Lease term’. Determining the correct lease term under IFRS 16 is significant. Firstly, the longer the lease term, the larger the lessee’s right-of-use asset and lease liability will be. Secondly, the length of the lease term determines whether a lease qualifies for the short-term lease exemption. Finally, IFRS 16 contains additional application guidance on how to deal with periods covered by options to extend or terminate a lease. While this detailed guidance can be helpful, it also means there is more to consider when determining the lease term. Our article explains the key aspects of determining the lease term at commencement date and when it should be reassessed.
    • EN