Keeping you and the business ahead with innovative thinking and deeper insights from the Greenlion team.
People change banks and don’t close accounts. Individuals get sick and forget what investments they took out. People die, leaving insurance policies behind. Money sits in solicitors trust accounts and bank accounts. Money owing by IRD to individuals remains with the Commissioner. These are common examples of unclaimed monies recipients miss out on. Literally at […]
Trusts dominate the wealth landscape. They’ve been used for eons and successive generation to hold and protect wealth. Given the humble trust is such a popular vehicle to hold assets and produce income, it’s no wonder the IRD have turned their attention to reviewing trusts to establish if they’re operating as they should be. Unfortunately, […]
Did you celebrate 26 May with woops of joy and champagne? Maybe you ought to have done as this was Tax Freedom Day. What’s that you might ask? It a hypothetical day in our tax calendar that supposedly marks the time when Kiwis pay off their collective tax bill. Thereafter, apparently, every dollar we earn […]
In our work we have the privilege of meeting some really interesting clients. Recently, we provided advice and accounting services to Warren and Jennifer Kavanagh and their brainchild, Cedar Works. In the process of our engagement, Warren gave us some of Cedar Works products to try and we were so impressed, we thought we’d share […]
Hello Everyone, In politics land the equivalent of Christmas Day is Budget Day. This year the Budget was delivered on Thursday 30 May 2024. Like Christmas Day, some will be happy with what Santa Claws Nicola Willis provided. Others will be suffering disappointment, citing Grinch behavior at the austerity of what’s on offer. Prior to […]
One of the most predicted changes the Budget introduced was a change to the trustee tax rate. As soon as the top marginal income tax rate increased to 39%, it was a forgone conclusion the Government would alter the trustee tax rate too. The only matter the jury was out on, was the timing. Clarification […]
If you’re asking where your slice of the Bread & Butter Budget is, you’re not alone. Primarily, business per se weren’t the recipients of much Budget assistance. Those two thirds of the SME Community polled pre-Budget release certainly didn’t have their expectations dashed. That in itself was hardly surprising, given this was a Budget presented […]
Free Money & Key Dates As the new Financial Year is well and truly underway, we thought it a good time to remind you of some of the financial benefits available and ensure you're aware of a few key dates ahead. Do you still have outstanding tax payments due for 2022? We are able to use a […]
As Christmas and Santa approaches and 2022 comes to an end, Greenlion wishes to thank you for all your support during the year. Undoubtedly 2022 has been unprecedented. After learning to manage the effects of Covid, the world has largely resumed transmission. Borders are mostly open, unemployment is low and whilst we are fighting inflation, […]
As you may be aware, on 30 March 2022 a new set of rules around GST tax invoices came into effect. The purpose of this was to simplify GST record keeping. This meant tax invoices no longer remained an absolute necessity when submitting expense claims, with the exception of sellers. It also removed the requirement […]
Just a reminder, if you applied for the Small Business Cashflow Loan (SBCS) in mid 2020, the two year interest-free period will be coming to an end. You should have received a letter from IRD, via MyIR, with instructions on how to repay this. If you have already repaid your SBCS loan in full, you […]
New Reporting Regime Now that we are completing Financial Statements and Tax Returns for clients for the 2022 financial year it’s appropriate to remind you of the increased scrutiny Trusts are receiving from the Commissioner of Inland Revenue Department (IRD). We informed you this would occur back in October 2021. Under the new reporting regime […]