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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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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 2015: are we finally moving tax into the 21st century?
Are we finally moving tax into the 21st century?
Every now and then a once-in-a-generation opportunity presents itself for real change. The replacement of the outdated Inland Revenue computer system, FIRST, presents that opportunity for the collection of tax in New Zealand. But is the proposed spend future-proofing the tax system - the lifeblood of revenue for Government expenditure - or simply focussing on making it more efficient?
A lot has been said about the cost of the business transformation project being run by Inland Revenue, and we should see an acknowledgement of the expected $1.5billion cost coming through in this year’s Budget.
The Government has recently released two green papers about changes to New Zealand’s tax system to suggest and call for comments on a better use of digital services for its delivery, and a reduction in tax administration.
If we look at the overarching context of the changes which are being proposed, they effectively seek to use technology to move tax calculation and collection to real time (rather than end-of-year assessment), and make transmission of the information and payments simpler and more timely. The overall effect however, is to increase the number of touch points taxpayers will have with the Inland Revenue, something which is not generally desirable, but may be relatively painless if technology makes this happen automatically and seamlessly.
Naturally, the burden of these changes will fall squarely on employers, with the hope that on-going business technology improvement will naturally embed these changes without a need for wholesale change being forced on them. That said, those businesses which have not embraced technology may be forced into doing so (which could be a good thing). Getting technology-resistant pensioners to do likewise may be another matter!
However, pre-populated forms, automatic information transfers, and changes to the timing and collection of payments aren’t exactly earthshattering stuff. Yes it will make life easier, yes it will reduce the cost of compliance, and yes it will mean the tax position is more correct, in a timelier manner and in theory reduce debt collection, but could we use technology to do more?
The current tax framework is based on historic models of taxation, using principles such as source and residency to assess tax. However, these principles are seriously out-dated. The mobility of money and people means there’s an increasing move to virtual rather than tangible business environments. The world is changing at an incrementally increasing rate. It is widely acknowledged that today’s rate of change is the slowest we will experience. A tax system needs to embrace this change, and technology needs to make it happen.
The global debate about BEPS (Base Erosion and Profit Shifting) and GST on online purchases emphasises that the current system for levying and collecting taxes requires a compete rethink. Inland Revenue’s business transformation project needs to reconsider the framework for the levying of tax, not solely focus on how to make the current out-dated rules work more efficiently, otherwise we will simply spend an awful lot of money developing a system that will effectively collect an ever diminishing amount of tax. After all, how long is the life expectancy of a cell phone, or laptop? As a country we can’t afford to invest $1.5billion in a state of the art tax system which will quickly become a dinosaur. Instead, there needs to be an investment in a framework for transformational change.
Further enquiries, please contact:
Greg Thompson
Partner and National Director, Tax
Grant Thornton New Zealand
T +64 (0)4 495 3775
E greg.thompson@nz.gt.com