Taxation Bill pleases some, teases many

Dinesh Naik – The Taxation (Annual Rates for 2015-16, Research and Development, and Remedial Matters) Bill released last fortnight included new rules to cash-up R&D tax losses for start-up businesses, clarified the GST treatment of bodies corporate, and contained various remedial changes to New Zealand’s international tax rules. R&D Tax Loss The Bill will allow certain businesses to cash-up tax…

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Evolving business practices challenge auditors

David Sinkins –  Independent audit committees remain the cornerstone of good governance, giving organisations the confidence to make the right business decisions. However, the ever-changing external environment, including economic conditions and legislation are making this job harder. Audit committees around the world have noted that ongoing economic and political uncertainty and volatility, regulatory compliance, and operational risk, pose the greatest…

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Supermarkets tighten security

Mike Booker – Supermarkets are rolling out extra security to deal with the threat to contaminate infant formula with 1080 poison. New World and Pak N Save stores will have ‘Infant Formula Milk Monitors,’ visually monitoring the product on shelves. Additional security including CCTV and security during transit to stores is in place at Countdown Distribution Centres. Acting Managing Director…

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Employment growth remains modest

ANZ Economic Commentary Job advertising data suggests that while the strongest employment growth is likely behind us now, the labour market still has momentum. Total job advertising fell 1.1% in January (seasonally adjusted), unwinding half of its 2.2% December lift. The trend in the index is modestly upward. Nationwide internet job advertising lifted 3.1% in January, while newspaper advertising fell…

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