Our Articles

May 13, 2020
New Zealand is preparing to return to work under Alert Level 2.From Thursday the 14th of May most businesses will be back operating albeit, still with many restrictions thereby creating a ‘new normal’ for their everyday operations. The emphasis is clearly still on restricting the contact points…
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April 30, 2020
Jack & Carrie Lum Chester Grey would like to extend our congratulations to Jack and Carrie Lum and their family for achieving a huge milestone in their business. Jack Lum & Co is an institution in Remuera with Jack and Carrie epitomising an exceptional work ethic as well as passion for their…
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April 17, 2020
The Government announced that banks will be able to provide a mortgage holiday of ‘principal and interest’ for the next 6 months to alleviate the consequences of COVID-19 on homeowners. However, there has been confusion amongst homeowners, landlords and tenants and the purpose of this article is to…
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April 17, 2020
The Government and the banks are implementing a $6.25 billion Business Finance Guarantee Scheme for small and medium-sized businesses, to protect jobs and support the economy. The Crown, in partnership with participating approved banks, will support targeted new loans (including increases to…
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April 17, 2020
As we entered into these unprecedented times of being locked away in our ‘bubbles’ no doubt what was foremost on the minds of many business owners was survival. The challenges are obviously different for different businesses and industries – some like essential services are clearly still…
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April 17, 2020
Covid-19 is not a reason to make a position redundant. We’ve had several cases where employees have sought our advice because their position has been made redundant, based on a letter from their respective employers which reads “due to Covid-19 and it’s impact on our business.” Despite the…
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April 17, 2020
Good Shepherd NZ is a charitable non-government organisation that was established to address the critical, contemporary issues facing women, girls and families. Among other services, they offer NILS (No Interest Loans) which are a fair and affordable way for people living on limited incomes to…
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April 17, 2020
Chester Grey was fully operational from our individual home offices from 25 March 2020. This was possible because our business is cloud based and management had planned well before a level 4 lockdown was announced.The physical and technological set up was completed with some simple steps: a…
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April 17, 2020
We have contacted ACC to discuss options for clients if payroll has been significantly affected by Covid-19. As you will know if you are an employer, self-employed or a contractor, you will receive an ACC invoice once your current tax return is process by IRD. The latest invoice will be a final…
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April 17, 2020
Has your business been adversely affected by Covid-19? Are you an Employer, a Sole Trader or Self-Employed? Have you applied for the Wage Subsidy? We have already discussed the Wage Subsidy with a considerable number of clients but we are concerned that, if we have not already spoken to you, you…
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April 17, 2020
COVID-19 is a challenge like we have never seen before.Our goal is to eliminate COVID-19 from New Zealand, so that we can live and work free from this disease. This is the best thing we can do for our people, our communities, and our economy. We attacked the disease early and hard by going into…
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April 17, 2020
Chief among the action points announced is a tax loss carry-back scheme. A tax bill will be introduced later this month (April) to enable this. Other measures revealed include: changes to the tax loss continuity rules; greater flexibility for taxpayers in respect of statutory tax…
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April 6, 2020
We hope that everyone is keeping safe and well in these difficult times.After 11 days at home, the news this morning (06/04/2020) on the Covid 19 front is looking (tentatively) positive.Staying at home is making a difference to the spread of the infection and will save lives.We are all working safe…
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December 20, 2019
Inland Revenue (IR) have introduced several significant changes dealing with the way investment income is reported.Payers will be required to provide more detailed investment income information more frequently, and in an electronic format. For most types of investment income, that will mean…
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December 20, 2019
Better safe than sorry . . . Are you prepared? You may have noticed that Inland Revenue (IR) has been featuring in the media quite a bit lately.Reported to have received additional funding, it has resulted in a sharp increase in audit activity and now, more than ever before, individuals and…
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December 20, 2019
Declare it all. Or risk everything. Tradies who do undeclared cash jobs can be hit with tax penalties, or criminal convictions that could lead to prison – costing them their business and their income. Doing jobs for cash or for your mates is okay - as long as you record them and declare the…
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December 20, 2019
Inland Revenue says new measures to ensure large multinationals pay the right tax in New Zealand are working well and should mean an extra $200m in tax collected each year. The Taxation (Neutralising Base Erosion and Profit Shifting) Act 2018 made a series of changes to New Zealand's…
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December 20, 2019
You’re at risk if you’re in business and using a standard form of contract, you supply goods or services: to non business customers orto business customers and the goods or services are of the kind ordinarily bought for personal household or domestic use (unless the business customers are buying as…
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December 20, 2019
There are many types of trusts that can be tailored to achieve a specific purpose. The general purpose of a trust is to protect your assets and provide for desired succession planning for future generations. A trust is created by a trust deed whereby a person (the settlor) transfers property to the…
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December 20, 2019
The financial media is currently full of gloomy-sounding references to ‘inverted yield curves’ as a harbinger of a global recession. In lay terms, what does all this mean and how should a long-term investor respond? A yield curve is a line that plots the yields of bonds of the same credit quality…
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