Polson Higgs
Recent News
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Changes to Tax Legislation (8 June 2011) The Government has passed legislation introducing several tax relief measures to help Christchurch residents and businesses trying to get back on their feet after last month’s earthquake. We have included a summary of these measures below, for more detailed information please check http://taxpolicy.ird.govt.nz/publications/2011-sr-earthquake-bill/overview These Measures Include:
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| 90 Day Trial Period - Extension!
Changes to the Holidays Act 2003 and the Employment Relations Act 2000 have now passed their third reading and are law, effective from 1 April, 2011. There has been a lot of discussion around the extension of the 90 day trial period for new employees to all employers. Since April 2009, employers with fewer than 20 staff have been able to take these staff on using a 90 day trial period. These employees can then be dismissed within this 90 day period without the ability to raise a personal grievance for unjustified dismissal. What remains is the employee’s ability to bring a personal grievance on other grounds including discrimination, harassment or unjustified disadvantage or employers who have not been operating out of a duty of good faith.
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| IRD Phishing Scam Yet another scam email, claiming to be from the Inland Revenue, is currently doing the rounds. The email claims to be from the Inland Revenue’s "Tax Refunds Department" and informs the recipient that they have a tax refund owing. In order to claim their refund, the recipient is asked to click on a link, and enter in their personal details. Please note that the Inland Revenue does not process its refunds in this manner, nor is there a "Tax Refunds Department".
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| LAQCs and Property Investment As part of Budget 2010 the Government announced changes to the Qualifying Company (QC) and Loss Attributing Qualifying Company (LAQC) regime to make these entities flow-through entities. Recently released draft legislation introduces a new look-through company (LTC). The new LTC regime, to take effect from 1 April 2011, is intended to counter the perceived advantages of the current LAQC regime.
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| Broughton to take on national office (2nd December 2010) Dunedin businessman Philip Broughton will this morning be elected as the national president of Business New Zealand, the first person from the city to hold the national office. He has been president of the Otago-Southland Employers Association for seven years and national vice-president for two years. Mr Broughton, a partner was looking forward to his new responsibilities when spoken to last night by the Otago Daily Times. His role would include helping set the direction and policy for the staff, monitoring performance and providing leadership on a wide range of issues.
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Last updated: Monday, 31 January 2011 | 4:27:06 p.m.
