Paul Kane, partner Privately Held Business, Grant Thornton New Zealand Ltd, looks at the state of the New Zealand economy through the eyes of his firm’s clients and the macro economic factors presently in play.
Grant Thornton International’s latest Business Report reveals the scale of technology’s influence on business with the majority of firms surveyed now planning to automate operations and practices. With capital costs low as labour costs rise, the findings pose fundamental questions about the extent to which machines will eventually replace humans.
LONDON -- A survey of more than 240,000 business and engineering students from 12 of the world’s largest economies named Grant Thornton one of the 50 'World’s most attractive global employers'.
Human resources, payroll and accounting are the most common services that are outsourced and many companies engage external specialists to execute these cost effectively.
The snowball of momentum that has been building around increased information disclosure and tax audits continued in the 2015 Budget delivered by the government. The recent headline focus has been on tax changes relating to property speculation and withholding tax on certain non-resident related party interest transactions.
The 2015 Budget projects a modest average GDP growth of 2.8% over the next four years. Although a core component of GDP growth is maintenance and improvement of productive capability, the Budget only included a modest range of measures to indirectly influence productivity gains, primarily in skills improvement and increasing workforce participation for beneficiaries.
Recent announcements by the Green Party and Prime Minister John Key around child poverty in New Zealand are still just tinkering around the edges and not targeting the core of the problem.
In Budget 2013 the Government made some initial moves to curb the rapidly growing student loan debt balloon.
A heated Auckland property market has prompted the Government to target speculators and foreign buyers in this week’s Budget announcement. A capital gains tax will be introduced on property sold within two years of purchase with exemptions.
A lot has been said about the cost of the business transformation project being run by Inland Revenue, and we should see an acknowledgement of the expected $1.5billion cost coming through in this year’s Budget.