-
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.
-
Capital markets
You need corporate finance specialists experienced in international capital markets on your side if you’re buying or selling financial securities.
-
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.
-
Corporate insolvency
Our corporate investigation and recovery teams can help you manage insolvency situations and facilitate the best outcome.
-
Debt advisory
An optimal funding structure for your organisation presents unprecedented opportunities, but achieving this can be difficult without a trusted advisor.
-
Expert witness
Our expert witnesses analyse, interpret, summarise and present complex financial and business-related issues which are understandable and properly supported.
-
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.
-
Forensic and investigation services
We provide investigative accounting and litigation support services for commercial, matrimonial, criminal, business valuation and insurance disputes.
-
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.
-
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.
-
Mergers and acquisitions
Grant Thornton provides strategic and execution support for mergers, acquisitions, sales and fundraising.
-
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.
-
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.
-
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
-
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.
-
Virtual asset advisory
Helping you navigate the world of virtual currencies and decentralised financial systems.
-
Corporate tax
Grant Thornton can identify tax issues, risks and opportunities in your organisation and implement strategies to improve your bottom line.
-
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
-
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.
-
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
-
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.
-
Research and Development
R&D tax incentives are often underused and misunderstood – is your business maximising opportunities for making claims?
-
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.
-
Tax governance
Mitigate tax risks and implement best practice governance that will stand up to IRD scrutiny and audits.
-
Transfer pricing
Tax authorities are demanding transparency in international arrangements. We businesses comply with regulations and use transfer pricing as a strategic planning tool.
-
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
-
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.
-
Financial reporting advisory
Our financial reporting advisers have the expertise to help you deal with the constantly evolving regulatory environment.
-
Business architecture
Our business architects help businesses with disruptive conditions, business expansion and competitive challenges; the deployment of your strategy is critical to success.
-
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.
-
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.
-
IT advisory
Our hands on product experience, extensive functional knowledge and industry insights help clients solve complex IT and technology issues
-
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
-
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.
-
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.
-
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
-
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
-
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.
-
Risk management
We understand that growing companies need to establish robust internal controls, and use information technology to effectively mitigate risk.
-
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: Deafening silence once again likely to greet SMEs
Deafening silence once again likely to greet SMEs
Owners of SME’s in New Zealand must be amongst the most patient people on the planet.
For years they have sat and waited for the Government of the day, be it on Budget or Election day, to throw them one small scrap from the table - anything at all that might help such an important part of the New Zealand economy.
Normally the only things being thrown their way are hoops, in the form of more tax and extra compliance costs, as respective governments try and squeeze every dollar out of the “SME golden goose”. However, to this Government’s credit, they have squashed the intended FBT on carparks, mobile phones and computers.
And for those businesses who employ fewer than 20 people and who make up 97.2% of New Zealand businesses, employ 30.2% of all employees and are responsible for an estimated 27.8% of New Zealand’s Gross Domestic Product, it looks like another year of bread and water with nay a Budget sweetener in sight.
And it shouldn’t be that hard. We are not talking sophisticated, complex, multi-tiered, multi-ownership structures. Of the approximate 470,000 businesses in New Zealand, 420,000 employ five people or less.
So why the malaise? Yes it is true that SMEs are very poor at getting out and ‘beating the drum’ unlike some maniacal small groups that go to unbelievable lengths to get their cases noticed.
But to be honest, they shouldn’t need to. This is a big group of New Zealanders we are talking about – certainly big enough to turn any election if they rallied behind one vote.
The problems SMEs face are well documented. There would not be one member of Parliament worth their salt that couldn’t reel off “onerous layers of tax” and “stiffling compliance costs” as the two things most bugging SMEs.
There are other concerns such as a lack of skilled labour and an ability to raise capital, but these tend to ebb and flow with the cycles. Tax and compliance, on the other hand, are as constant as a South African fast bowling attack.
All SME owners want is for tax to be simplified and compliance to be reduced. So what could be done?
One only has to look across the Tasman for ideas. Small businesses in Australia with an annual turnover of less than $2 million are able to access a range of small business tax concessions.
For example, they have simplified depreciation rules including increasing the asset write-off threshold from $1,000 to $6,500. In New Zealand this still stands at $500. Just how keen would small businesses be to invest in new computers and technology thereby enhancing their productivity if this threshold was increased?
Australia also has simplified trading stock rules. SMEs can choose not to conduct a stocktake (and account for changes in the value of your trading stock) if there is a difference of $5,000 or less.
The Government could also initiate a Small Business Growth scheme to get SMEs that need cheap, quick and flexible access to finance. Nothing kills a new, or small, business faster than a lack of capital or cash flow.
The UK Chancellor said: “We can help companies grow and succeed by building infrastructure, backing local enterprise and supporting successful sectors. But nothing beats having the most competitive business tax system of any major economy in the world.” Should this be a goal for New Zealand as well?
The UK will soon have one of the lowest corporation tax rates, with plans to cut down to 20% in 2015. The rationale is that the lower taxes will encourage investment and international companies to migrate to the UK. Why not reduce corporate tax rates in New Zealand?
There are moves afoot for SMEs to have a louder and collective voice through organisations such as the New Zealand SME Business Network, and while only a few crumbs, if any, will come the way of SMEs in this year’s Budget, the challenge for the 420,000 New Zealand businesses who employ five people or less is to galvanise their concerns in a united front ahead of next year’s elections. Numbers like these can change elections.
Further enquiries, please contact:
Paul Kane
Grant Thornton Partner, Privately Held Business
T +64 (0)9 308 2576
E paul.kane@nz.gt.com