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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: Retirement trends
Retirement trends
Since 1975–77, life expectancy at birth has increased by 6.7 years for women and 9.0 years for men. While differences in mortality between men and women still remain, their longevity gap has narrowed. Newborn girls in 2005–07 can expect to outlive newborn boys by 4.1 years, down from the peak of 6.4 years back in 1975–77.
The latest abridged period life tables, produced for the total population, indicate that the life expectancy at birth was 82.4 years for women and 78.4 years for men for the period 2007–09. Source Statistics NZ -Demographic trends 2010.
The evidence seems clear enough - we are living longer and this trend is likely to continue.
There are many contributing factors to this trend including early diagnosis and detection of conditions, improved medical management and treatment, and the continual development of new methodologies, which appear to be advancing at an increasing pace. Add to that our smarter dietary and lifestyle choices, and it is easy to see why we are all living longer than our parents and grandparents.
For many, 65 years of age remains the target retirement date, while others plan a staged entry to full retirement, choosing to continue to work part time for a number of years past that age. It seems clear too that once retired we are a lot more active. We finally have time to do all those things we have always wanted to do, but put off due to work pressures. Put simply doing more usually costs more.
So what does this all mean for you? No matter what your retirement plans might be, there is a pretty good chance that your plan is going to need to support you for a bit longer than originally intended. Undertaking a regular financial check-up is just as important as getting a regular medical check-up. The need for additional financial support over an extra five years in retirement , at a level of say $50,000 net per annum, will consume retirement capital of approximately $230,000 assuming a real rate of return of 3.00% (Gross return 6%, less tax, less inflation and any fees). Naturally the longer you give yourself to accumulate that additional capital, the easier it will be.
There are also interesting trends emerging in the housing sector too. Two ‘empty nesters’ rattling around in a five bedroom home may suit some, but for many downsizing from the large five bedroom plus family home, either by choice or out of necessity, is a key strategy in their retirement planning. Unless you are planning on moving to the provinces, the capital released from this process might disappoint. Invariably “downsizers” are looking to relocate closer to all the “essential” amenities into more compact and often more modern dwellings, which all come at a cost. Very often the amount of freed up capital is significantly less than expected. With a disproportionately large number of baby boomers looking to retire over a fairly concentrated period, there is also the potential for some over-supply in that particular market segment too.
Previously anticipated earning rates on retirement funds have also changed. Just look back five years or so at the rates being forecast by many of the large insurance companies and superannuation funds, and compare them to the current rates of return being earned on your own plans. Events such as the GFC and Sovereign debt issues have all had an impact on world growth, which in turn impacts on financial and investment returns.
We also anticipate some changes in the eligibility ages for NZ Super. For some time now the Retirement Commissioner has been headlining the whole affordability issue to Government. Obviously any change will have to be signalled well in advance, to allow time for people to make alternate arrangements.
The first of the original KiwiSaver plans are about to mature this year. There is no doubt that the introduction of KiwiSaver has been a phenomenal success and represents an important step in the recognition by many New Zealanders of the importance of retirement planning, however many New Zealanders still face the potential for an under funded retirement.
So what can we expect in Budget 2012? As far as NZ Super and KiwiSaver are concerned, the government are unlikely to tamper much more. But generations X&Y be warned, you and you alone must take responsibility for your own retirement plans. With an increasingly ageing population the government is simply not going to be able to afford to fund your retirement.
We recommend regular retirement planning reviews. Contact an Authorised Financial Adviser today.
Further enquiries, please contact:
Roger Sutherland
Director, AFA
Grant Thornton Wealth Management Ltd
D +64 (0)9 308 2974
M +64 (0)21 411 924
E roger.sutherland@nz.gt.com