Milford Asset Management – The Budget reinforces it is time…

The Budget reinforces it is time for another Superannuation Accord Published in Blog, Economy, KiwiSaver on 25 May 2012 The 2012 National Budget was disappointing as Savings and KiwiSaver, in particular, seem to be one of the first areas where the National Gov looks for cuts first when trying to balance the books.  The pattern [...]

What are a Trustee’s Responsibilities?

According to the CCH book “The Trustees Handbook” the most important responsibility is knowing your duties through knowing the Trust Deed. In knowing the Trust Deed you must understand what your powers are and fully understand that the Trust is there for the BENEFIT of the BENEFICIARIES, NOT the Trustees. Five of the important set-up, [...]

Preparing your financial survival kit

Natural disasters are unpredictable and in many cases can be life changing for those caught up in them. The recent disasters around the world, including Christchurch, Japan and as of this morning Sumatra, have got many Kiwis talking about and actively putting their survival plans in place. Whilst the main emphasis should be placed on [...]

Failed gold bullion dealer owes $3m – Stuff.co.nz

MATT NIPPERT A director whose gold bullion firm failed owing investors nearly $3 million is described by the company’s liquidator as a “pretty naive” businessman whose conduct raises serious questions. Grace Holdings NZ, trading as Bullion Buyer, ceased operations last month after informing investors all funds had been lost by a rogue trader and preacher [...]

Why do I need a Financial Adviser?

The most common feedback I get to this question is that they have no money so why bother! But, what if getting a financial adviser could help you with that?  This will not always be true, and will you need to be motivated to make some changes, but success is waiting, the big holiday is [...]

Guilty verdicts give directors the message – Brian Gaynor

16th July 2011 The guilty verdict for three Nathans Finance directors – Roger Moses, Mervyn Doolan and Donald Young – is a huge wake-up call for directors of public issuers. That is because Justice Paul Heath has determined that “directors have a non-delegable duty to form their own opinions” on matters relating to investment statements, [...]

Gift Duty to be Abolished

On 1 November 2010, the Revenue Minister- Peter Dunne confirmed the government’s intention to abolish gift duty.  He said the decision would be welcomed by taxpayers as the existing rules required a high level of compliance costs and were not raising any significant revenue. Dunne said: “The protection that gift duty offers in the areas [...]