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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 2012: A super collector
If there is one Government Department which has been widely accepted as performing relatively well, it is the Inland Revenue Department.
This is no mean feat for an organisation at the forefront of making people pay a large portion of their earnings to the Government, enforcing Government policy and ensuring miscreants are brought to account.
However, it has been creaking at the seams for some years as this success bred greater workloads, most of which have been outside of the core role of collection of taxes.
The FIRST computer system went live in the late 1980’s and has been modified, expanded and covered in band aids ever since. It has got to the stage that any Government policy changes are met with trepidation from within the Inland Revenue as it seeks to manage the changes to the various systems and bolt-ons to ensure they are effective.
If there was ever a system in need of a substantial upgrade, it is the FIRST system.
Given the Government’s desire to achieve greater efficiency from its public sector, changes to the delivery of the Inland Revenue are highly probable.
Innovation is what it is seeking. Inland Revenue is a prime candidate for delivering this, provided it can move itself into the 21st Century in terms of how pedantic it is with privacy issues.
While we can appreciate the need for privacy, particularly in light of recent ACC revelations and a need for confidence in the tax system, it has in recent times gone overboard on ensuring it is only communicating, in the safest way, to duly authorised people. For example, a company has to designate in advance who its shareholders/ directors/ finance team is to enable them to speak on behalf of the company. While most businesses use email as a matter of fact, Inland Revenue require a signed release to enable this to happen.
All that could be about to change. The first inkling was just this month, with the launch of a smartphone application enabling suitably registered individuals to access their personal tax details electronically over the phone. This is a monumental step for a Department steeped in history and conservatism.
If we consider the recent leaps in the advance of technology, coupled with a move to self-assessment (taxpayers assessing their own taxes), then a change of philosophy at the Inland Revenue coupled with innovative and ground breaking thinking interwoven with these technological advances could see the greatest progression in the delivery of tax services in the world. Our tax system and its management were heralded as world leaders during the 80’s and 90’s. And while they are still regarded as being highly efficient, the time is right for another quantum leap.
But that may not be all. The recently announced “super ministry” could herald further changes to Inland Revenue. It has been so efficient with the systems and processes that it is not beyond the realms to suggest the collection arms of Justice and Customs could come within a “Revenue” super ministry. With the potential for changes to ACC, the assessment and collection of ACC levies could also be brought under that umbrella, with case management being dealt with separately by a revised ACC Ministry.
Such changes are not beyond the realms of possibility, particularly as the Inland Revenue has experience in such collections (child support and student loans for example), and its wide powers would facilitate easier collection of the ballooning debt owed to the crown.
Look out on budget day therefore for significant changes to be identified for the Inland Revenue. A combination of tax revenues, social policy arm and government collections. All facilitated by a massive investment in technology to move the Government towards the 21st Century.
The unfortunate consequence of such an organisational shift and innovative development is that it will come at a cost of a large number of jobs within the relevant Government Departments. Efficiency and effectiveness has a cost to everyone involved.
There has been much comment that a Government that cannot increase its taxes due to the state of the economy would instead resort to increased audit activity. That may be the case, but through technology and innovation, enhanced Government revenue through more efficient and effective collections, is just as good.
Further enquiries, please contact:
Greg Thompson
Partner, Tax
T +64 (0)4 495 3775
M+64 (0)21 281 7332
E greg.thompson@nz.gt.com