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Compliance and audit reviews
From mandates, best practice procedures or accreditations, to simply gaining peace of mind, our technical and industry experts have you covered.
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External audit
Strengthen business and stakeholder confidence with professionally verified results and insights.
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Financial reporting advisory
Deep expertise to help you navigate New Zealand’s constantly evolving regulatory environment.
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Corporate tax
Identify tax issues, risks and opportunities in your organisation, and implement strategies to improve your bottom line.
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Indirect tax
Stay on top of the indirect taxes that can impact your business at any given time.
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Individual tax
Preparing today to help you invest in tomorrow.
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Private business tax structuring
Find the best tax structure for your business.
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Tax disputes
In a dispute with Inland Revenue or facing an audit? Don’t go it alone.
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Research & development
R&D tax incentives are often underused and misunderstood – is your business maximising opportunities for making claims?
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Management reporting
You’re doing well, but could you be doing even better? Discover the power of management reporting.
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Financial reporting advisory
Deep expertise to help you navigate New Zealand’s constantly evolving regulatory environment.
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Succession planning
When it comes to a business strategy that’s as important as succession planning, you can’t afford to leave things to chance.
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Trust management
Fresh perspectives, practical solutions and flexible support for trusts and estate planning.
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Forecasting and budgeting
Prepare for every likely situation with robust budgeting and forecasting models.
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Outsourced accounting services
An extension of your team when you need us, so you can focus your time, energy and passion on your business.
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Setting up in New Zealand
Looking to set up a business in New Zealand? You’ve come to the right place.
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Policy reviews & development
Turn your risks into strengths with tailored policies that protect, guide and empower your business.
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Performance improvement
Every business has untapped potential. Unlock yours.
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Programme & project management
Successfully execute mission-critical changes to your organisation.
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Strategy
Make a choice about your vision and purpose, where you will play and how you will win – now and into the future.
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Risk
Manage risks with confidence to support your strategy.
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Cloud services
Leverage the cloud to keep your data safe, operate more efficiently, reduce costs and create a better experience for your employees and clients.
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Data analytics
Use your data to make better business decisions.
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IT assurance
Are your IT systems reliable, safe and compliant?
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Cyber resilience
As the benefits technology can deliver to your business increases, so too do the opportunities for cybercriminals.
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Virtual asset advisory
Helping you navigate the world of virtual currencies and decentralised financial systems.
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Virtual CSO
Security leadership and expertise when you need it.
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Debt advisory
Raise, refinance, restructure or manage debt to achieve the optimal funding structure for your organisation.
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Financial modelling
Understand the impact of your decisions before you make them.
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Raising finance
Access the best source of funding for your business with a sound business strategy and rigorous planning.
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Business valuations
Valuable decisions require valued insights.
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Complex and international services
Navigate the complexities of multi-jurisdictional insolvencies.
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Corporate insolvency
Achieve fair and orderly outcomes if your business – or part of it - is facing insolvency.
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Independent business review
Is your business viable today? Will it be viable tomorrow? Give your business a health check to find out.
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Litigation support
Straight forward advice from trusted advisors to support litigation and arbitration matters, expert determinations and other specialist hearings.
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Business valuations
Valuable decisions require valued insights.
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Forensic accounting & dispute advisory
Understand the true values, numbers and dollars at stake, as well as your obligations and rights to ensure value is preserved and complexities are managed.
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Expert witness
Our expert witnesses analyse, interpret, summarise and present complex financial and business-related issues which are understandable and properly supported.
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Investigation services
A fast and customised response when misconduct occurs in your business.
Has household income inequality really changed in the last 20 years?
Peter Sherwin, Partner, Privately Held Business at Grant Thornton New Zealand, looks at New Zealand household incomes, the numbers of ‘poor households’ and how things have changed in this country over the last 20 years in light of a myriad of statements made by the different parties in the lead up to the election.
The OECD and our own Ministry of Social Development have extensively researched these topics and their findings differ with some of the comments being made in the run up to the election.
An OECD survey of income inequality indicates that there is no evidence of any sustained rise or fall in income inequality in New Zealand since their research began in the mid-1990s. The trend line is flat.
The most recent OECD survey ranks New Zealand 19th out of 34 countries on the income inequality table. New Zealand ranks equal with Canada, Estonia and Italy. Australia is 24th and Chile is the most unequal. The most equal country is Iceland.
Sixteen European countries have more income equality than New Zealand including Netherlands, Germany, France and Czech Republic, which is possibly due to better education standards and higher pay rates.
The latest New Zealand Ministry of Social Development survey of household incomes (after income tax paid and benefits received) shows that the gains over all income categories in 2013 were similar, which demonstrates that income inequality in 2013 was comparable to what it was in the mid-1990s.
However, the gap between benefit levels and New Zealand superannuation, wages and household income between 1983 and 2013 has grown.
There is no evidence of growing income equality in the population overall between high income households and middle and low income households in the last 20 years; and there is growing evidence of an increasing proportion of dual-earner families - 66% of two parent families were dual earners in 2013, up from 50% in the early 1980s.
There is an issue with child poverty with 24% of children (200,000) living in households dependent on an adult receiving a benefit and 200,000 children living in a household with no full-time worker. However, this is down from 233,000 (22%) in 2010 and 280,000 (30%) in 1998.
Children in one-parent families have a higher rate of income poverty than those in two parent families (51% vs 13%) in 2013.
On average from 2011 to 2013, 16% of European/Pakeha children lived in poor households compared with 28% of Pacific Island and 34% of Maori children. 70% of poor children lived in rental accommodation.
Household income poverty is generally considered to be incomes below 60% of the median household income.
Further enquiries, please contact:
Peter Sherwin
Partner, Privately Held Business
M +64 (0)21 638 522
E peter.sherwin@nz.gt.com