Purchase Price Allocation Rules

When you purchase a business, thought needs to be given to how you will value assets like stock, property and financial arrangements. Inland Revenue has brought in Purchase Price Allocation Rules to standardise the process. The rules apply from 1 July 2021 and will ensure that both the purchaser and the vendor account for valuations …

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Big Changes for Residential Property Investors

The government has announced significant changes that will impact residential property investors. The Bright Line Test will be extended to ten years, a move that was widely anticipated. In a surprise move, the government will remove interest deductibility on residential rental property mortgages. Brightline Test Extension The existing bright line test will be extended from …

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COVID-19 – New Assistance Available

COVID-19 – New Assistance Available With Auckland being placed into a Level 3 lockdown, the Government has made announcements about extended assistance. Resurgence Wage Subsidy The Government has announced that they will extend the wage subsidy scheme again, this time for a period of two weeks to cover Auckland’s lockdown.  As we have already had …

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Coronavirus – Wage Subsidy Extension

First things first. Applications for the original wage subsidy expire today, Tuesday 9 June. If you haven’t already applied and qualify, do so now. If you want more information on the existing scheme, please click on the link here. Details of the Extension Applications open for the wage subsidy extension on June 10, 2020 at 9am. As …

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Covid-19 – Essentials for Business

We pride ourselves on our commitment to our clients through thick and thin. With the Covid-19 pandemic rapidly impacting business, we thought it was important to update our clients on developments along with useful tools. The government has already signalled that there may be additional stimulus in the coming months and we’ll continue to update …

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