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Business valuations
We offer expert valuation advice in transactions, regulatory and administrative matters, and matters subject to dispute – valuing businesses, shares and intangible assets in a wide range of industries.
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Capital markets
You need corporate finance specialists experienced in international capital markets on your side if you’re buying or selling financial securities.
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Complex and international services
Our experience of multi-jurisdictional insolvencies coupled with our international reputation allows us to deliver the best possible outcome for all stakeholders.
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Corporate insolvency
Our corporate investigation and recovery teams can help you manage insolvency situations and facilitate the best outcome.
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Debt advisory
An optimal funding structure for your organisation presents unprecedented opportunities, but achieving this can be difficult without a trusted advisor.
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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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Financial models
A sound financial model will help you understand the impact of your decisions before you make them. Talk to us about our user-friendly models.
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Forensic and investigation services
We provide investigative accounting and litigation support services for commercial, matrimonial, criminal, business valuation and insurance disputes.
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Independent business review
Is your business viable? Will it remain viable in the future? A thorough independent business review can help your organisation answer these fundamental questions.
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IT forensics
Effective ESI analysis is integral to the success of your business. Our IT forensics experts have the technical expertise to identify, preserve and interrogate electronic data.
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Mergers and acquisitions
Grant Thornton provides strategic and execution support for mergers, acquisitions, sales and fundraising.
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Raising finance
Raising finance - funders value partners who can deliver a robust financial model, a sound business strategy and rigorous planning. We can guide you through the challenges that these transactions can pose and help you build a foundation for long term success once the deal is done.
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Relationship property services
Grant Thornton offers high quality independent advice on the many financial issues associated with relationship property from considering an individual financial issue to all aspects of a complex settlement.
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Restructuring and turnaround
Grant Thornton’s restructuring and turnaround service capabilities include cash flow, liquidity management and forecasting; crisis and interim management; financial advisory services to companies and parties in transition and distress
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Transaction advisory
Our depth of market knowledge will steer you through the transaction process. Grant Thornton’s dynamic teams offer range of financial, commercial and operational expertise.
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Corporate tax
Grant Thornton can identify tax issues, risks and opportunities in your organisation and implement strategies to improve your bottom line.
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Employment tax
Grant Thornton’s advisers can help you with PAYE (payroll tax), Kiwisaver, fringe benefits tax (FBT), student loans, global mobility services, international tax
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Global mobility services
Our team can help expatriates and their employers deal with tax and employment matters both in New Zealand and overseas. With the correct planning advice, employee allowances and benefits may be structured to avoid double taxation and achieve tax savings.
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GST
GST has the potential to become a minefield and can be expensive when it goes wrong. Our technical knowledge can help you minimise the negative impact of GST
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International tax
International tax rules are undergoing their biggest change in a generation. Tax authorities around the world are increasingly vigilant, especially when it comes to global operations.
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Research and Development
R&D tax incentives are often underused and misunderstood – is your business maximising opportunities for making claims?
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Tax compliance
Our advisers help clients manage the critical issue of compliance across accountancy regulations, corporation law and tax. We also offer business and wealth advisory services, which means we can provide a seamless and tax-effective offering to our clients.
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Transfer pricing
Tax authorities are demanding transparency in international arrangements. We businesses comply with regulations and use transfer pricing as a strategic planning tool.
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Audit methodology
Our five step audit methodology offers a high quality service wherever you are in the world and includes planning, risk assessment, testing internal controls, substantive testing, and concluding and reporting
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Audit technology
We apply our audit methodology with an integrated set of software tools known as the Voyager suite. Our technology has been developed to produce quality audits that are effective and efficient.
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Financial reporting advisory
Our financial reporting advisers have the expertise to help you deal with the constantly evolving regulatory environment.
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Business architecture
Our business architects help businesses with disruptive conditions, business expansion and competitive challenges; the deployment of your strategy is critical to success.
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Cloud services
Our team is led by cloud business experts who tailor services to the needs of your organisation, from strategy and implementation to ongoing services assurance.
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Internal audit
Our internal audits deliver independent assurance over key controls within your riskiest processes, proving what works and what doesn’t and recommending improvements.
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IT advisory
Our hands on product experience, extensive functional knowledge and industry insights help clients solve complex IT and technology issues
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IT privacy and security
IT privacy and security should support your business strategy. Our pragmatic approach focuses on reducing cyber security risks specific to your organisation
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Organisational & cultural change
The key to sustainable and future growth is a unified organisation operating within a strong cultural context, where transparency and communication are the priority for Kaimahi, and where visible leadership means walking the talk – but where does that journey begin?
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Payroll assurance
Our specialist payroll assurance team can conduct a review of your payroll system configuration and processes, and then help you and your team to implement any necessary recalculations.
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PCI DSS
Our information security specialists are approved Qualified Security Assessors (QSAs) that have been qualified by the PCI Security Standards Council to independently assess merchants and service providers.
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Process improvement
As your organisation grows in size and complexity, processes that were once enabling often become cumbersome and inefficient. To maintain growth, your business must remain flexible, agile and profitable
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Procurement/supply chain
Procurement and supply chain inputs will often dominate your balance sheet and constantly evolve for organisations to remain competitive and meet changing customer requirements
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Project assurance
Major programmes and projects expose you to significant financial and reputational risk throughout their life cycle. Don’t let these risks become a reality.
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Risk management
We understand that growing companies need to establish robust internal controls, and use information technology to effectively mitigate risk.
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Robotic process automation (RPA)
RPA is emerging as the most sophisticated form of automation used to help businesses become more agile and remain competitive in the face of today’s ongoing digital disruption.
Budget 2013: Maintaining tax integrity
Maintaining tax integrity
For any tax system to work effectively, a number of principles need to be present. The system must be simple and efficient, equitable, neutral, and able to generate adequate revenue.
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?
The simplest way to increase a government’s revenue is to increase taxpayer’s incomes: the more you earn, the more the government earns through taxation. However, there aren’t any direct actions a government can take to achieve this. The most it can do is pull a range of levers in the economy and hope (or pray) this has the right effect.
The alternative is direct intervention by determining new tax rules and ensuring they are complied with through strict enforcement. However, it’s generally accepted that any major revamp of the New Zealand tax system is off the agenda for this Budget. Instead, there has been a tinkering around the edges of the current tax policy and legislation.
New Zealand relies on a self-assessment regime to assess any changes to tax policy and proposals must go through a Generic Tax Policy Process, where consultation occurs prior to the enactment of any amendments. This is to ensure that taxpayers have confidence in the system and are happy to pay what is expected.
Unfortunately, recent forays to tweak the rules, namely the proposals to tax carparks and work related tools such as computers and cellphones, have resulted in a decline in the general public’s confidence in the integrity of our tax system.
The Government has backed down from the carpark tax and recent public statements from the Prime Minister have hinted that the proposed changes to the taxation of work tools look set for the same fate. The question remaining is, how did the Government think these proposals would ever achieve sound taxation outcomes?
These proposals were put forward on the principle of equity. The argument was, where a private benefit arises, a tax consequence should result. In the case of carparks, why should an employee obtain a carpark for free? However, it seems a step has been missed in the appropriate assessment of other principles.
Both proposals failed to meet the efficiency criteria. The calculations were complex, the principles muddied and compromises were made to try and make them work.
Their effect would not be neutrality as behaviours would change to make life simpler and complexities would be avoided by wholly withdrawing the offending expenditure.
Conversely, while the proposals sought to remedy the inequity of private expenditure, the equity principle also became offended, as the attempt to make things simpler meant tax would actually be paid on a business element as a compromise. It’s like the analogy of using a sledgehammer to crack a nut. While there may be some private benefits to these tax tweaks, they are insignificant in the bigger picture. And the negative perceptions created and additional compliance costs incurred in remedying these minor issues demonstrate they are not worth pursuing.
The increased use of work tools will also be a vital link to achieving an increase in this country’s productivity and effectiveness – a key Government concern. Businesses are using cellphones, smart phones and computers to respond quicker to customers, obtain market information and increase the efficiency of operations through various software applications.
The delineation between what is work and what is private is quickly becoming blurred. People are now available 24/7, operating outside their current time zone in an increasingly international marketplace.
Technology is certain to help drive the productivity gains this country so desperately needs, and in turn, drive the revenue the Government so desperately needs. Developing tax policy that rights some minor wrongs, collects a little revenue, but fundamentally changes the behaviours of employers and employees at the cost of productivity gains seems counter-intuitive.
Instead, a connection needs to be made between tax policy and business growth, and innovation and development. Then we may see the integrity of the tax system increase and the development of a more productive economy.
Further enquiries, please contact:
Greg Thompson
Grant Thornton Partner, Tax and Privately Held Business
T +64 4 495 3775
E greg.thompson@nz.gt.com