Polson Higgs
June 2009 News Archive
IRD Criticised Over Gap in the Tax Tightrope - Otago Daily Times (25th June, 2009)
By Dene Mackenzie
Created 24/06/2009 - 05:00
The margin between what interest rates the Inland Revenue Department will pay on under and overpayments of tax is set to increase sharply on Sunday at a time when banks are under pressure to reduce their margins.
Polson Higgs tax partner Michael Turner told the Otago Daily Times the drop in the IRD interest rate by 0.82% to 8.91%, from 9.73%, for underpayments would be welcomed by the business community.
However, the corresponding 2.41% fall - from 4.23% to 1.82% - in the rate the IRD paid for overpayments seemed disproportionate.
New Zealand Wages Hold Up Despite Tough Times - Change is Imminent Mercer Salary Survey Reveals (24th June, 2009)
Monday 18th May 2009
Despite the tough economic circumstances salary movements in New Zealand have held steady over the past twelve months, but employees shouldn’t be expecting the same level of pay increases in the coming year according to new research recently conducted by Mercer.
Mercer’s 2009 Total Remuneration Survey, which analysed remuneration data from 216 organisations, has found that the median pay increase in New Zealand was around five per cent for the year to February 2009.
Graham Crombie Appointed Chairman of the new Board of the New Zealand Institute of Chartered Accountants (24th June, 2009)
The President and Council of The New Zealand Institute of Chartered Accountants recently announced the Directors of the new Board being formed following the restructuring of the Institute last year.
The new Board takes office on 1 July 2009.
Graham is CEO and a partner of Polson Higgs. He was the president of NZICA in 2008 and has a long history with the Institute.
OCR Unchanged at 2.5 Percent (12th June, 2009)
Reserve Bank News Release, 9:00 am 11 June 2009
The Official Cash Rate (OCR) will remain unchanged at 2.50 percent.
Reserve Bank Governor Alan Bollard said: "The economic outlook remains weak both in New Zealand and in other countries. However, there are signs that international economic activity is stabilising, and international financial conditions are improving. We expect the New Zealand economy to begin growing again toward the end of this year but the recovery is likely to be slow and fragile. Many key economic indicators such as unemployment are projected to keep deteriorating well into 2010.
Ltd.co.nz Wins Top Award (11th June, 2009)
Polson Higgs would like to acknowledge the recent Asia/Pacific PAMPA award for "Best Innovation in Advertising" given to Allied Press for their work with the innovative new venture "Ltd.co.nz". Polson Higgs has worked closely with Allied Press on the development and growth of the company, bringing in students from the Design School of the University of Otago.
Restructurer Urges Firms to be Sensible (2nd June, 2009)
By Dene Mackenzie (Otago Daily Times) on Thu, 21 May 2009
"As a result of the current economic conditions many businesses are going through change processes. Polson Higgs are recommending that these organisational and structural changes be well managed, and are encouraging decision makers to seek advice and support to ensure that any corrections are sustainable and long term." - by Ross Hanson.
Last updated: 25th June, 2009 | 9:45 am
