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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
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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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Virtual asset advisory
Helping you navigate the world of virtual currencies and decentralised financial systems.
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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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Tax governance
Mitigate tax risks and implement best practice governance that will stand up to IRD scrutiny and audits.
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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
Leverage the cloud to keep your data safe, operate more efficiently, reduce costs and create a better experience for your employees and clients.
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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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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 18 is stuck in the present. We need investment in innovation for the future
Greg Thompson
17 May 2018
The Budget’s R&D spend looks less than futuristic, says Grant Thornton’s Greg Thompson.
While a chunk of this year’s expenditure naturally focuses on the perennial portfolios of health, education, justice and housing, this Budget aims to adjust the direction of our economy to deliver not just now but in years to come. This has been done through a mixture of ‘investing’ in people and organisations, ostensibly to remedy underfunding by the previous government in a wide range of areas. Embedded within that rhetoric is the need for our economy to be ready for the future. That’s why this year’s Budget theme is ‘Foundations for the Future’.
To facilitate this refocus the proposed catalyst of change is the Research and Development Tax Credit regime, which was announced earlier this year and is undergoing consultation. The desired outcome is to double the expenditure on R&D in New Zealand. However, simply providing a financial incentive for R&D doesn’t necessarily mean that current levels of innovation will increase, or that it will occur in the areas that are needed for a future-proofed economy.
The proposed R&D regime will redefine the criteria for expenditure on innovation projects; these projects would need to use scientific methods to acquire new knowledge, or create new or improved outcomes to resolve scientific or technical uncertainty. A high standard to achieve.
The key question is whether the tax regime will achieve its stated aims and move New Zealand towards a desired future state, where according to Hon Megan Woods, Minister for Research, Science and Innovation, we “need new ideas, innovation and new ways of looking at the world”. The tax credit regime is aimed at enabling businesses to innovate and deliver productivity gains. The government doesn’t seek to do this through the R&D credit scheme alone, recognising we need a sound education sector, an engaged workforce and fairness in the economy.
The credit system works on the assumption that businesses will invest as desired, have the resources to do so, and possess the technical ability to meet the requisite technical standard. Effectively, it sets a framework and seeks businesses to take up the challenge and deliver – similar principles the previous government had employed over its term in office.
It also cuts small businesses out of innovation, with a de minimis of $100,000 R&D spend before qualifying and no provision of cash back to businesses that are often in start-up phase, and it sets a high technical standard which business are not currently set up to accommodate.
So is it time for a complete rethink on priming the New Zealand economy for innovation? The Future of Work Commission has been formed to look at what is required for the future, and this is a great start. But whether that leads to innovation – or simply an understanding of the shift in employment needs and practices, technology requirements and skill changes – is yet to be seen.
Of course, innovation fundamentally requires investment. Most businesses can’t fund real innovation out of business as usual and that has been the problem; R&D in New Zealand has mainly been more about adjustments to existing products and ideas rather than groundbreaking developments. New Zealand has a limited capital market to provide the necessary funding; the R&D credit will only provide 12.5% of spend, meaning businesses need to fund the remaining 87.5%.
It’s time for a rethink of innovation and the future of the New Zealand economy, and how to create a real framework for directing resources, skills and expertise towards innovation that will move New Zealand into the future. Providing broad incentives and creating core framework enhancements doesn’t create the focus and speed of change which is required.
