The political debate about asset sales means that the imminent initial public offering of shares in Mighty River Power is getting a lot of attention. It will no doubt get people who have never invested in shares before thinking about doing so. For the novice shareholder, there are some tax issues to consider.
The key focus in our current tax system has been on adequacy. But one has to wonder, will the Government be able to generate enough revenue from the current tax collection to fund its expenditure programme and bring our finances in line to meet the surplus target by 2014/15?
With the unprecedented demand for Mighty River Power shares and its obvious success, any indications in the Budget that the Government may look to accelerate its sales programme should be warmly received by all New Zealanders.
For the last 40 years, the productivity and competitive elements of successive budgets have been conservative at best. Chances are, this year’s Budget will be no different, for it would require a bold Government to launch the fundamental changes needed to create a more productive and competitive economy.
When it comes to optimism about the economy, South Islanders are much more bullish than North Islanders with twice the number of Mainlanders being “very” optimistic compared with their northern neighbours.
To keep the Government books in good shape, and follow through on the promise of getting the country back to surplus before 30 June 2016, this budget must execute well on two fronts. It must maintain its tax revenue base and continue to find ways to control, and wherever possible, reduce Government expenditure.
After a period of consolidation following the Global Financial Crisis, more New Zealand companies are considering cross-border mergers and acquisitions as they look to build scale and gain access to new geographic markets.
This year’s Easter advertising is competing with slogans like “Making tax time easy for you.” This refers to 31 March, which marks the end of the tax year for the majority of taxpayers. For businesses, it ties in with the end of the accounting year - an annual cut-off date for measuring the financial performance of the business and determining its financial position.
Grant Thornton has been named the International Accounting Bulletin's 'Network of the Year' at an award ceremony held in London.
The Statutory Managers for the Hubbard Management Fund (HMF) today announced that on 15 March they will be making a further payment of 15 cents in the dollar to those investors entitled to payments from the Capital Return Pool.