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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 2013: Another chance to improve KiwiSaver
Another chance to improve KiwiSaver
Since conception, KiwiSaver has gone from strength to strength. Any initial hesitation has been replaced, on the most part, with acceptance. The latest figures show two million New Zealanders are now signed up – a fantastic uptake.
The latest KiwiSaver Performance survey from Morningstar showed that funds have grown from $954.10 million as at 30 June 2008 to $14.48 billion as at 31 March 2013. And on top of this, investment funds have been performing especially well over the last 12 months. Growth has been remarkable, but we have a long way to go yet.
While the recent 1% increase of the minimum contribution to 3% is a positive step in the right direction, this rate needs to be much higher. The upcoming budget is the perfect opportunity for the Government to further increase this minimum contribution to ensure future generations will be comfortable in their retirement.
A recently released Infometrics report commissioned by the Financial Services Council (FSC) has shown that if 80% of the workforce was contributing to KiwiSaver, and if this contribution was increased to 10% (5% by employees and 5% by employers), the KiwiSaver fund would grow from its current level of $14.48 billion to $731 billion by 2066. This would have a fantastic effect on New Zealand’s economy, productivity and our capital and job markets.
Australia is way ahead of us in their retirement scheme. Australian employers currently contribute 9% and this is increasing to 12% by 2020. This is smart and New Zealand needs to follow their lead – the sooner the better.
The Infometrics report also found that if contributions were increased to 10%, those starting work today would get twice the pensions they would be entitled to currently from NZ Super when they retire.
Only 9% of New Zealanders believe that NZ Super alone will be sufficient for them to live on when they reach retirement, according to a Horizon Research survey released by the FSC.
And this majority is right - the current entitlement of approximately $13,000 to $18,500 per annum would barely cover most people’s essential household expenses.
Demographic changes show that people are living longer and are more active in their retirement. As these changes continue, a much bigger nest egg will be required to fund these lifestyles.
While everyone’s needs and requirements are different, a typical rule of thumb is that people should look to have a post retirement income at a level of 70% of their pre-retirement income, if they want to maintain a similar lifestyle.
The bottom line is, that to be comfortable in retirement, every New Zealander needs to be saving roughly 10% of their income. And while some people will achieve this across a range of measures, the majority are unlikely to do so without Government intervention.
Hopefully this year’s budget results in further improvements to the KiwiSaver scheme. While it’s unlikely there will be an increase to 10%, any small increase will be another step in the right direction.
For further information please contact:
Roger Sutherland
Director, Grant Thornton Wealth Management Limited
T +64 9 308 2570
E roger.sutherland@nz.gt.com