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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: under the tax microscope
Under the tax miroscope
The snowball of momentum that has been building around increased information disclosure and tax audits continued in the 2015 Budget delivered by the government. The recent headline focus has been on tax changes relating to property speculation and withholding tax on certain non-resident related party interest transactions.The government is also considering tax policy changes for GST on digital imports and the taxation of multinationals as part of the OECD BEPS (base erosion profit shifting) programme.
The announcement earlier this week of a new rule to tax gains on residential property bought and sold within 2 years, comes with additional funding of $29m for enforcement of the taxation of property. This funding initially commenced in the 2010 Budget as the government sought to target compliance with existing property tax rules.
An excellent return on investment to the government to date from this audit activity has seen an additional increase in funding for audit activity of $45m. Naturally, this increased funding comes with an expectation of an increased return. Taxpayers can expect a more regular knocking on the door by the tax inspector requesting a “please explain”. A visible example of the step up in audit activity is the announcement of targeting contractors in the Auckland housing market to ensure they are complying with their tax obligations, rather than undertaking “cash” jobs.
The introduction of the property speculation tax also includes detailed information requirements before any land transfer may occur. Everyone must provide an IRD number, with additional requirements for non-residents of their home country tax identification number and a New Zealand bank account (which encapsulates detailed identification requirements under anti money laundering rules).
These requirements buttress the growing international trend in the provision of information including:
- Detailed mandatory information disclosures for multinationals as part of the OECD BEPS programme
- Reinforcement of information sharing through the network of tax treaties with most of our trading partners, and
- Completion of 12 tax information exchange arrangements with a range of tax havens, with a further 9 signed but not yet in force, including Bahamas, Bermuda, Cayman Islands, Isle of Man and Netherland Antilles.
The Budget has buttressed collection of information to facilitate this information exchange, with a further $12.1m for the New Zealand Business Number, which provides a unique identifier for businesses to use in their interactions with government agencies.
The Inland Revenue Business Transformation project, the upgrade of the Inland Revenue computer system, will also embrace this quest for taxpayer information. While the initial consultation documents released earlier this year focus on better use of technology to enable a more efficient tax system, the overall theme was a more effective tax system through real time use of taxpayer information to identify and assess taxpayers. This information collection is naturally available for sharing with tax authorities in other countries, together with an expectation of information being made available to New Zealand from overseas.
Two of the principles of an effective tax system relate to equity and fairness. This means all taxpayers, whether they are carpenters or plumbers on an Auckland building site, or a large multinational, are seen to be paying their share of tax. The outrage which has engulfed the triad of “Google, Amazon and Starbucks” to pay more tax has seen momentum through the BEPS programme to obtain, share and audit information.
The reinforcement of this approach through Budget 2015 should therefore not come as a surprise, but as a warning for taxpayers that Big Brother really is watching you.
Further enquiries, please contact:
Greg Thompson
National Director, Tax
Grant Thornton New Zealand
T: +64 4 495 3775
M: +64 21 2817332
E: greg.thompson@nz.gt.com