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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 2016: inequality is about more than income
There is a growing income gap in New Zealand and as some Kiwis get further ahead, some fall further behind with, it is argued, not enough money to meet their needs, enjoy their lives or to participate in society.
But is the living wage the answer to the wage gap and inequality?
The living wage, which is not a uniquely New Zealand idea, has emerged in response to growing poverty and inequality that continues to hold back so many New Zealanders, their families and our economy. However, and regrettably, the living wage is based on a notional calculation of what it would cost for a nuclear family of a mum, dad and two kids to live with a reasonable amount of discretionary income.
This does not fit easily with single people starting in employment and those families that choose to have more than two children.
The real issue is that there is no perfect measure of inequality in New Zealand and any measurement requires a judgement call about what poverty looks like.
So, where to from here?
First and foremost we need to define Kiwi inequality. It’s a multifaceted issue and if New Zealand is serious as a country about wanting to solve inequality, then we need to develop a multi-faceted solution that targets those most in need. It’s very easy to use the upper income benchmark of the multimillion dollar salaries paid to CEOs. The reality in New Zealand is that there is a very small number of New Zealanders earning over $1million per year. In fact, the top 1% of income earners in NZ earn an average of $337,000 per annum.
The more realistic comparison is the median wage of $51,000pa with the top 1% of income earners’ average income of $337,000. This is a much more palatable 6.6 times the 2014 median wage. There needs to be a gap to provide the motivation for talented New Zealanders to stay here, otherwise they will move offshore like some of the 800,000 New Zealanders who live overseas.
There is clearly a need for money. Budget 2015 aimed to reduce hardship among children in New Zealand’s poorest families and announced a $790 million child hardship package including a benefit rate increase for families with children of $25 each per week after tax. This is first time since 1972 that core benefit rates have increased by more than inflation. This package came into effect on 1 April 2016.
New Zealand ranks poorly for child poverty – 25th out of 34 developed countries – and Budget 2016 is an opportunity for this Government to be bold. I don’t believe that there will be any further significant amounts of money to reduce child hardship and inequality, and more money is not what is needed now. A new approach is required to solve this complex problem.
However, in terms of the money that is available, the Government needs to completely rethink how it is invested. More targeted spending across health, social welfare, education and justice sectors to reduce hardship will be a good start. Big data will have an important role to play in helping to diagnose and solve inequality. Education is the key, but it takes 16 years to educate a school leaver, before they move to tertiary or trade training.
But the responsibility shouldn’t fall just at the Government’s feet. We need a coordinated approach between Central Government, Local Government, Iwi, Pacifica, Social Service providers, businesses and industry training organisations to deliver up well-paying job opportunities, particularly in the regions.
We see the extremes of inequality in a range of communities right across the country, but particularly Northland and Poverty Bay. If there was a coordinated approach and this funding was tightly targeted and spent differently, it could lead to better outcomes for all New Zealanders.
The road ahead is difficult and reducing inequality will never be solved in a three year political term. Willpower and sheer determination is not enough, the Government needs fresh thinking to build a better New Zealand.
Further enquiries, please contact:
Peter Sherwin
Partner, Privately Held Business
Grant Thornton New Zealand
T +64 (0)4 495 3777
E peter.sherwin@nz.gt.com