Campbell Tyson Blog

Computer security, also known as cybersecurity, is the protection of information systems from theft or damage to the hardware, the software, and to the information on them, as well as from disruption or misdirection of the services they provide.

For years we have been conscious of our personal security plus protection and insurance of physical assets. But have you applied the same thought to your cyber safety?

Companies incorporated in New Zealand after 1 May 2015 have needed to:

• Provide dates and places of birth of all directors
• Ensure that one director lives in New Zealand, or is an Australian who is also a director of an Australian Company (details will need to be provided - see below)
• Provide details of a ultimate holding company, if appropriate

The Trans-Pacific Partnership Agreement was completed at 2am this morning after a marathon effort from those 12 countries that are party to it. All the secreacy around the negotiations had people imagining the worst, but it appears that the deal struck will be hugely beneficial for New Zealand.

See a great summary by sector here: TPP Outcome Sector Summary

The Government announced in its last budget that they intend tax sales of residential land that has been owned two years or less.

The use of the term "Bright-line" refers to a clear connection between an event and a tax outcome, something they are seeking to do with the legislation that is currently only at Bill stage. This means that Parliament still has to clean it up before it becomes law. What is unsettling is we will all be caught by it in a matter of weeks, with 1 October 2015 being the magical date.

Long-term-OCR-outlook-Aug-2015.pdf

Long-term OCR outlook

• We continue to expect the RBNZ to cut the OCR to 2.5% in coming months.
• Inflation pressures will remain subdued; neutral OCR likely to be low.
• Accordingly, we have extended our forecast of how long the OCR stays low.

See the attached PDF for more information

Many of our clients, particularly those who have income that fluctuates significantly during the year, complain about provisional tax and particularly the timing of the payments. For someone with a March balance date the provisional tax dates are typically 7 May, 28 August and 15 January.

Did you know that you can actually pay your provisional tax with your GST on what is called the “GST ratio option”. This method is specifically designed to benefit small to medium sized businesses so you are paying tax as you go and in line with your income/cash flow levels AND if you make all of the payments by the due dates you won't be charged any use of money interest if you have a shortfall of provisional tax.