New Zealand’s top accounting firms announced for 2019

Thirty accounting firms have been announced as New Zealand’s top performers. They were publicised by a collaboration between Chartered Accountants Australia and New Zealand and Sunday Star-Times / Stuff.

The Top 30 list includes regional to suburban and right up to Big 4 accounting firms throughout New Zealand. The survey also recognises firms at the forefront of the industry in a variety of areas including pro bono work, gender diversity and innovation.

Alliott Group 2019 Worldwide Conference

Alliott NZ joins international colleagues from 38 countries at Alliott Group’s worldwide conference in Madrid.

Alliotts’ Greg Millar and Vanessa Williams were among the 138 delegates from 78 independent accounting and law firms in 38 countries who were in attendance in Madrid for the 2019 Worldwide Conference of Alliott Group, the firm’s international alliance.

Cheque usage continues to decline every year

Last year cheques only accounted for 5% of payments to Inland Revenue and some people who used cheques also used other payment methods.

From 1 March 2020, Inland Revenue will no longer be accepting cheques if customers have an alternative payment option available. This includes post-dated cheques (cheques dated after 1 March 2020).

Alliott NZ is a proud member of Alliott Group, a worldwide alliance of independent accounting, law and consulting firms

Celebrating its 40^th year in business, Alliott Group aims to become a Top 10 Global Alliance by the end of 2021.

A dynamic and ambitious approach spearheaded by a new Executive Office team has resulted in 2019 being one of their most successful recruitment years, with 13 firms joining in the last eight months.

The alliance is actively seeking accounting and law firm members in the APAC region but particularly an accounting member in Brisbane, Australia, following the merger of long-standing previous member Hanrick Curran into the Mazars partnership earlier this year.

New GST rules for low-value imported goods

From 1 December 2019 overseas businesses selling low-value goods to consumers in New Zealand must charge GST at the point of sale if they meet the GST registration requirements, including a NZ$60,000 turnover threshold.

Low-value goods are physical goods valued at NZ$1,000 or less (excluding GST), such as books, clothing, cosmetics, shoes, sporting equipment and electronic items. Goods sold for more than NZ$1,000 will continue to be taxed by Customs at the border as they come into New Zealand.

Privacy Commissioner John Edwards welcomed the Justice Select Committee’s report on the Privacy Bill.

“The Committee has listened to submitters and the reported back Bill contains measures to ensure the law addresses some of the most pressing aspects of the modern digital economy.

The law will now explicitly set out when agencies that collect, process and use New Zealanders’ personal information will have to comply with New Zealand law – regardless of whether these agencies have a brick-and-mortar presence on our islands.

Alliott Group’s global tax news in one monthly digest

Asia Pacific Tax News

BJP pledges to revise income tax brackets if re-elected

India’s ruling BJP party says it will revise income tax brackets if re-elected in the seven-phase general election, starting from 11 April. “We are committed to further revise the tax slabs and the tax benefits to ensure more cash and greater purchasing power in the hands of our middle-income families,” the BJP said in its election manifesto.
Times of India

New NZ employment law

From 1 April 2019, employees who are affected by domestic violence will have new entitlements and rights.

They can take up to 10 days’ paid leave each year, can request a variation to their working arrangements, and can raise a personal grievance, or unlawful discrimination claim, if their employer treats them adversely because they are affected by domestic violence.

These new entitlements and rights come from the Domestic Violence – Victims’ Protection Act 2018 (Act).

Alliott Group’s monthly global tax digest for March

Welcome to March’s edition of TaxPulse

A monthly media round-up of news, views and comment pertaining to global taxation, provided by Alliott Group’s International Tax Services Group.

Asia Pacific Tax News

China unveils $298bn tax cuts to boost growth

Chinese number two Li Keqiang has outlined plans to cut billions of dollars in taxes in order to boost the world’s second-largest economy. Mr Li told 3,000 delegates at the National People’s Congress that China would aim to deliver nearly 2 trillion yuan ($298bn) of cuts in taxes and other company fees. A value-added tax for transportation and construction sectors will be reduced from 10% to 9%, and VAT for manufacturers will fall from 16% to 13%, he said.
BBC News    South China Morning Post   China Daily

Trans-Tasman e-invoicing

Electronic invoicing is a broad term that covers the exchange of invoices between a supplier and a buyer in an electronic format – for example, emailing an invoice in portable document format (PDF).

However, when we talk about e-invoicing (or digital invoicing), we mean the automated direct exchange of invoices between the supplier’s and buyer’s software systems.