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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: time for honesty in health
Time for honesty in health
As we patiently await Budget 2015, many will be wondering if there will be a major ground shift in policy or mere tinkering around the edges. Health is one of those areas where it could be ‘business as usual’ with the customary additions to pacify the electorate regardless of political leanings, or are we at a point in our economic cycle where the Government can afford to be bolder and announce sentinel policy changes in health?
Is the recent announcement that an extra $98 million will be set aside in the Budget for elective surgery one of these “pacifiers”?
The time has come for some honest discussions about healthcare funding. Unfortunately, fiscal pressures mean that continuing with the old ways of funding healthcare in New Zealand will not be an option. More and more, people are faced with the inevitable outcome of having to take greater personal responsibility for financing their health needs. Responsible Government policy could put sustainable options in reasonable reach of those who are younger and working.
It is not too many years ago when many New Zealanders felt that a large portion of the workforce was doomed to fail at saving for retirement. Social commentators were concerned that even middle income earners were not managing to put aside sufficient funds for their retirement in a disciplined, regular fashion. The hand of the nanny State was needed. This political hot potato was thrashed around for many decades until KiwiSaver was boldly announced and is a stand-out success with greater numbers participating than ever anticipated. The reality is that KiwiSaver merely becomes part of day-to-day working life for the majority of wage earners, and the self-employed for that matter. Most people don’t even think about it now. It just happens. Putting aside a prolonged global economic catastrophe, if today’s young people participate in KiwiSaver, they will reach retirement age with significantly more wealth than they would have if left to their own devices.
Could the same learnings be applied to the funding of private health insurance (PHI)? Many senior health specialists and economic commentators are asking the same question.
Rates of PHI are falling in New Zealand. This inevitably increases demands on the public system. Currently the PHI sector contributes $1 billion to the health budget in New Zealand each year. Further falls in PHI will reduce this contribution to health funding, so everyone is worse off.
Heath funding is a growing problem for many reasons, including not least, our aging population, the growing cost of delivering high tech treatment options and the cost of employing and retaining highly qualified health professionals to deliver the services required. Many developed countries are facing these challenges and the solutions that other economies have implemented vary widely. If our Government is going to make a significant policy shift in funding healthcare, there’s no shortage of models (both successful and unsuccessful) from overseas to learn from. Being a late adopter can have its benefits.
If increased rates of PHI can improve access to healthcare, there are a number of ways that this can be achieved. Removal of FBT on employer contributions to PHI; an extra tax on high income earners with no PHI; or subsidies for early return to work are some options that have been tried around the world. These are all valid options. Any option has to be assessed on a number of attributes including: administrative simplicity, equity of access, efficiency and effectiveness.
Fortunately in New Zealand, we have established an infrastructure to handle insurance premium deductions from salaries; IRD clearing house mechanisms for re-direction of contributions to providers and mandatory registration of employees via employer payrolls (subject to usual opt-out provisions if deemed appropriate). The health sector may be more geared up for change given there are less PHI providers compared with the financial services sector offering KiwiSaver products, and potentially less differentiation in product, although current PHI providers would possibly argue differently in some cases. Like KiwiSaver, the Government could consider identifying one or more default providers.
Government subsidies for employee contributions to such a scheme is another issue. International evidence would suggest that subsidies need to be carefully assessed, otherwise the cost to the taxpayer can outweigh the cost savings for the public health purse. Nevertheless, these challenges are not a sufficient reason to shy away from considering a KiwiSaver-type scheme for increasing the funding of health services.
It is possible that some bold thinking now on such an initiative could leave a notable legacy for Generation X and Y, many of whom (although not all) have access to good incomes and the benefit of good health. This puts them in a good position to secure cost-effective insurance at a young age that would set them, and the economy, in good stead later in life, provided there is a State view that this is in everyone’s best interests.
Further enquiries, please contact:
Pam Newlove
Partner, Privately Held Business and Chair of the Grant Thornton New Zealand Board
T +64 (0)9 308 2579
E pam.newlove@nz.gt.com