Monthly Archives: November 2015

The Reserve Bank’s New LVR Restrictions

The Reserve Bank’s loan-to-value-ratio (LVR) rules first took effect on 1 October 2013, and changes to these rules took effect on 1 November 2015. What change is the Reserve Bank making to the LVR rules? The LVR restricts the amount of high-LVR lending a bank can do in a given time period. Banks are required

2015-11-04T11:16:08+00:00 November 4th, 2015|General|

The Beginner’s Guide To The Property Bright-line Test

Parliament has recently passed legislation requiring greater disclosure for New Zealand property transactions. Refer to our article “‘New Property Rules Took Effect on 1 October 2015: What Should Buyers and Sellers Be Aware of Now?” for more information about the new disclosure regime. As well as requiring further disclosure for property transactions, Parliament is proposing

2017-10-24T11:38:31+00:00 November 4th, 2015|Taxing Matters|

New Property Rules Took Effect on 1 October 2015: What Should Buyers and Sellers Be Aware of Now?

The property rules changed on 1 October 2015 for people buying or selling property in New Zealand. The new rules are contained in the Land Transfer Amendment Act 2015 and the Tax Administration Act 2015, which were both enacted in September 2015. We met with UHY Haines Norton’s Head of Tax, Jim Martin, to talk

2015-11-04T10:52:24+00:00 November 4th, 2015|Taxing Matters|

The Facts on FACTA

We have recently fielded a number of enquiries about FACTA from clients who have received correspondence from their bank, including, in some cases, a detailed FACTA questionnaire to complete. So what is FACTA? FACTA stands for The Foreign Account Tax Compliance Act, which is legislation passed by the United States that aims to reduce tax

2015-11-03T10:17:21+00:00 November 3rd, 2015|Taxing Matters|

Mileage Rate Changes

A mileage rate of 74 cents has been announced for the 2015 income year, which is down from the 77 cent rate applied to the 2014 income year. Although the Inland Revenue is not suggesting that taxpayers make adjustments if they have applied the previous 77 cent 2014 mileage rate in the 2015 income year,

2015-11-02T13:50:31+00:00 November 2nd, 2015|Taxing Matters|

Superannuation and Over-taxing

If you have turned 65 years old and begun to receive National Superannuation but continue to work – as many people do - you should be aware of how you are being taxed.  For legal purposes in this situation, your job is (usually) classed as your ‘primary’ job and tax code, and Superannuation is classed

2015-11-02T13:49:00+00:00 November 2nd, 2015|Taxing Matters|

New Information Website for Small Businesses

A new website called Under 5 Small Business specifically targeted at small businesses with fewer than 5 employees has been launched. Created by Waikato-based businessman and small business adviser Bob Weir, the site offers advice to small businesses on a range of topics including accounting, legal, marketing, human resources and operations. It aims to provide

2015-11-02T13:46:24+00:00 November 2nd, 2015|Resources|

Our Helensville Office Is On The Move!

      Our Helensville office is moving to a new location.  From January 2016, the team will be located at 34 Commercial Road – the old ASB bank building across the street from our current office.  All of our contact numbers and email addresses will remain the same.  

2015-11-02T13:42:07+00:00 November 2nd, 2015|The UHY Team|

Rayglass Boats Wins At The Business Awards – South

Congratulations to our Audit client Rayglass Boats on their success in the recent Westpac Auckland Business Awards – South. Rayglass Boats is New Zealand’s leading manufacturer of high quality powerboats from 6 - 12 metres in length. Since 1992, the innovative company has been the recipient of numerous awards both for their boat designs and

2015-11-02T13:40:46+00:00 November 2nd, 2015|Awards, Client Success Stories|