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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
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Financial models
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Forensic and investigation services
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Independent business review
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IT forensics
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Raising finance
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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
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Transaction advisory
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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
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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
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Cloud services
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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
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IT privacy and security
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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
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Process improvement
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Project assurance
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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: Raising the innovation bar?
Raising the innovation bar?
Since the last election, the Government has promised to raise the level of innovation in New Zealand. The move to include innovation as a key platform of the Business Growth Agenda was a step in the right direction, but is enough being done to ensure this promise will be fulfilled?
In 2009, New Zealand’s gross expenditure on R&D was equivalent to 1.3% of GDP. The OECD average was 2.4%. Across the ditch, the Australians have had a much longer commitment to innovation. They started with the establishment of the Industry Research and Development Board, now Innovation Australia, in 1986 to support Australian businesses in their pursuit of research and development and its commercialisation. However, progress reports show while they spend more on R&D than New Zealand, about 2.2% of GDP, they are not getting the results they want.
The problem for both Australia and New Zealand is that their economies are resource based where the opportunities for innovation are more limited. In turn this means that even where there is considerable investment in R&D in the resource sectors and some parts of manufacturing, the returns are likely to be lower than in the high-tech, human capital sectors like bio-tech and software.
There are evident signs of momentum in New Zealand’s innovation platform. However, while the Government is spending money on innovation, it was not clear if this created an environment that supported firms to pursue R&D for their own ends. The Government seemed to prefer having all the answers rather than encouraging others to come up with their own – which is the essence of innovation!
The investment in research and innovation through the Business Growth Agenda announced last year saw $166 million over four years allocated to develop the Advanced Technology Institute and Callaghan Innovation. The aim of this is to help New Zealand's high-tech firms grow, increase exports and ramp up productivity.
It also saw $100 million over four years to increase the Performance-Based Research Fund, to support research in New Zealand's universities and $59 million over four years to boost funding for science and engineering tertiary courses.
Sixty million dollars, over four years, was also committed to the National Science Challenges, to find innovative solutions to some of the most fundamental issues New Zealand faces. These were announced at the beginning of May 2013 with a commitment of another $73.5 million in this year’s Budget.
Yesterday’s Budget is a further commitment to innovation despite the recession. The budget allocates additional funding to the innovation platform and its aim to improve New Zealand’s growth prospects with $200 million of new funding over the next four years including:
- $75.2 million for business R&D grants
- $31.3 million for repayable grants for start-up businesses
- $73.5 million for the National Science Challenges
- $20 million for the Marsden Fund
This means Government’s total cross-portfolio funding for science and innovation rises from $1.24 billion in 2012/13 to $1.36 billion in 2013/14 and continues building the momentum of Government investment in innovation as the economy grows and strengthens.
Further enquiries, please contact:
Murray Brewer
Grant Thornton New Zealand Partner, Tax
M +64 (0)9 308 2586
E murray.brewer@nz.gt.com