Round-up of accounting news

www.NetProphet.co.nz

Monday 21st September 2009

Netprophet.co.nz is a website providing news and information directly to the accounting profession in New Zealand. Each week ShareChat will provide a summary of the key stories on the site.

The biggest tax news last week was clearly the discussion around whether or not property should be subject to some form of capital gains tax. However, it wasn't the only news. One of the other significant events was that Parliament passed a massively large tax bill which will have many consequences.

CGT news

Capital gains tax on realisation of assets proposed
A capital gains tax on realisation of assets, with the family home only partially exempt, has been put forward by two leading tax academics. » Read more

Capital gains tax no magic bullet: NZICA
A capital gains tax is not the magic bullet for economic stability NZICA's tax director Craig Macalister says. » Read more

Key all but rules out property capital gains tax
While the Prime Minister John Key virtually ruled out a capital gains tax yesterday, he is much less unequivocal about other forms of tax on property investment. » Read more

Tax news

Massive and far-reaching tax bill passes
A major omnibus tax bill which makes a number of important business tax reforms has been passed by Parliament. » Read more

Investment news

IRD looks to change tax rules around bonds
Revenue Minister Peter Dunne has welcomed the publication of an issues paper seeking feedback on possible changes to tax rules that may be hindering the development of a domestic bond market. » Read more

Labour advocates higher PIE rate
The government should look at lifting the portfolio investment entity (PIE) rate above its current top rate of 30%, says Labour Party finance spokesman David Cunliffe. » Read more

Practice management

How to find quality time for clients
Most directors in an accounting business generally want to add value to clients. Their day-to-day business is what gets in the way of teaching out to those clients. In the first of a series of Practice Management articles for Netprophet, Viv Brownrigg gives readers tips of how to find more time for clients. » Read more

People and Events

Netprophet runs a listing of events and new appointments.

The two key events for accountants are the institute's annual tax conference and also the Conferenz One Stop Update for the Accountant in Business. Details in the Diary

We've been a little light on new appointments. If you know of any you would like included on the site email editor@netprophet.co.nz

To keep yourself up-to-date with accounting news get Netprophet's weekly Prophet Forecast newsletter here.

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