Monthly Archives: November 2013

Xero Is Approved By IRD

On 11th September 2013 the Inland Revenue Department announced that Xero is now legally allowed to store taxpayers’ records outside New Zealand on behalf of its customers (click here for article).  Xero was the first cloud-based accounting software company to become street legal and we understand that MYOB has also recently been approved. The growth

2013-11-01T09:39:05+00:00 November 1st, 2013|Accounting and Taxation|

New Rules That First Home Buyers Need To Know

Stuart Wills of Mortgage Link explains the options available to first home buyers.      Earlier this month the new rules pertaining to low equity loans officially came into play for New Zealand banks.  This means the bank is now restricted to doing just 10% of new lending as low equity lending.  Any lending with

2013-11-01T09:37:59+00:00 November 1st, 2013|General|

Agriculture News: Changes To The National Standard Cost System for Dairy Cattle

The NZ Institute of Chartered Accountants (NZICA) has recently reviewed the methodology for calculating the national standard cost for dairy cattle.  It has been decided that in future, grazing expenditure will be identified separately as a specific cost for rising one year (R1) and rising two year (R2) dairy cattle.  This is in order to

2013-11-01T09:36:25+00:00 November 1st, 2013|Farm Accounting|

Taxing Matters: October / November 2013

Taxing Matters provides a summary of topical tax and business information relating to individuals and business. Deduction for Legal Fees   Legal fees for buying and selling a rental property can be claimed for income tax, provided total legal expenses for the income year - including the fees associated with buying and selling a rental property

2013-11-01T09:35:15+00:00 November 1st, 2013|Accounting and Taxation, Taxing Matters|

Video Support From IRD For New Businesses

Inland Revenue has launched a series of ‘Introduction to Business’ videos designed to help people going into business for themselves.  The topics covered are: Business structures Income and provisional tax Expenses Depreciation Registering for GST All of the videos are less than 7 minutes long and transcripts are also available.  You can view the videos

2013-11-01T09:34:35+00:00 November 1st, 2013|Resources|

Indigo New Zealand Celebrates US Partnership

UHY Haines Norton business intelligence client Indigo New Zealand has secured exposure to the global market through MicroStrategy, a leading worldwide provider of enterprise software platforms. Auckland-based Indigo deliver powerful business intelligence, data warehousing and enterprise financial planning solutions which provide information with integrity, and enable better decisions, every day.  Indigo clients include Air New

2013-11-01T09:32:56+00:00 November 1st, 2013|Client Success Stories|

Babich’s Success At NZ International Wine Show Awards

Congratulations to “Legends of New Zealand Wine” Peter and Joe Babich for being awarded the Sir George Fistonich Medal for outstanding contribution to New Zealand wine at the New Zealand International Wine Show Awards in Auckland last month.  This is the country’s largest competition, receiving more than 200 entries and attracting wine identities such as

2013-11-01T09:31:51+00:00 November 1st, 2013|Awards, Client Success Stories|

NZ Post’s History In The Making

Not content with the nickname ‘snail mail’, NZ Post have just slowed down their mail delivery service to the speed of a three-toed sloth.  All standard post for cities and towns is now delivered to a three day delivery target.  Our experience so far is that our usually large piles of daily mail are now

2013-11-01T09:30:30+00:00 November 1st, 2013|General|

Staff News: October / November 2013

Nithya Narayanan UHY Accounting Manager Bhuvana Narayanan proudly watched as her 14-year-old daughter Nithya won the New Zealand Spelling Bee championship title this month in Wellington.  Nithya, a student from Lynfield College, competed against 15 other Year 9 and 10 students considered to be the best spellers in the country.  Congratulations to Nithya

2013-11-01T09:29:59+00:00 November 1st, 2013|The UHY Team|