A global minimum tax has been introduced, which ensures that large multinationals pay at least 15% tax in all the jurisdictions they operate. This will have the effect of “reducing the incentive for profit shifting and placing a floor under tax competition, bringing an end to the race to the bottom on corporate tax rates,” as the OECD explains.
Although retirement villages can be profitable, this study has revealed it can take more than 20 years before an owner of an average village fully recovers their investment. It explores the commonly held belief about the retirement village business model disproportionately benefiting operators financially. The path to profitability: Separating fact from fiction in New Zealand’s retirement village sector, is based on a discounted cashflow financial model of two retirement villages that represent a cross section of the sector: Rural villas in Canterbury and urban apartments in Auckland. It covers a 25-year period comprising the key stages of a retirement village development from sourcing land and construction, to project completion and revenue generation. It then takes into account the sector-specific sensitivities that impact a village’s profitability, some of which include occupancy lags, ORA (occupation right agreement) sale prices and construction costs.
This year’s Women in Business research shows that mid-market firms who are maintaining their gender equality initiatives and plan to implement new ones were the most likely to report significant growth in revenue and staff numbers.
While we grapple with the threat of sustained environmental challenges, corporates and other reporting entities need to consider how the impact of climate change on their organisations is reflected in their financial statements. The key challenge is assessing this within our current accounting framework even when don’t yet have specific climate accounting standards. David Pacey addresses these challenge and how you can report the impact of climate change in your financial statements.
Protected Disclosures Act (Protection of Whistleblowers) 2022: Has your organisation adapted?
Building consents: Councils shouldn’t be the last man standing between quality and progress
What would happen if your business couldn’t access the core materials and products it relies on? Been here before? Well, this time we’re not talking about COVID-19 or supply chain disruption.
A recommendation from the recent Charities Act Review could mean charities with annual operating expenses over $140,000 will be required to disclose information about the reserves they hold, and why they hold them. This information will also be available to the media and general public.
A recent series of property and construction sector forums hosted by Grant Thornton New Zealand provided insights into some of the biggest talking points across the sector. Expert panellists provided a deep dive into the industry from the perspective of developers, financiers, property lawyers, agencies and the Property Council NZ.
The 2022 Not for Profit sector report paints a picture of an agile industry bending with the winds of change, but it also reveals a breaking point is on the horizon for many organisations.
Our summary of the key facts that are relevant to you and your business.
Our industry experts weigh in on what Budget 2022 means for certain sectors as well as New Zealand’s tax landscape.
The Leader of the Opposition provides an insider’s perspective to Government decision making for Budget 2022.
Kiwi businesses have been through the wringer over the past few years, with so much instability and rapid change. We need a tax strategy to help the country tackle it’s looming problems, says Greg Thompson, Business Advisory and Tax Leader.
New Zealand has long-standing problems in the aged care sector that will only be solved by more funding. The shortage of nurses is becoming critical, demand for aged care is rising and the consequences of ignoring this problem are unacceptable. As a society, do we really want to leave our elderly population, their families and aged care professionals in the lurch?
Funding to train more general practitioners is top of the Budget wish list for Pam Newlove, Business Advisory Partner. Why? Because our GP workforce is in crisis.
An increasing trend towards the appointment of a single joint forensic accounting expert (SJE) for relationship property matters has emerged in New Zealand, compared to the traditional approach where each party appoints their own forensic accounting expert.
New Zealand needs rental properties that give tenants a better experience, so let’s incentivise the creation of build-to-rent-communities, says Dan Lowe, Partner, and Property & Construction Leader.