June Update

Posted 5 years, 5 months ago by Maggie Waine    2 comments

COMPANIES OFFICE FEES

On 1 August 2012, the Companies Office will be making a series of changes to the fees it charges for services, and will also begin to collect levies to fund the Financial Markets Authority (FMA) and the External Reporting Board (XRB).

The new Companies Office fee structure addresses a funding deficit and better reflects the true cost of delivering services to the users of the Companies Office registers. FMA and XRB levies will now be included within most registration fees, annual return fees and with the filing of a prospectus.

REGISTRATION CHANGES

Registration fees for NZ and overseas Companies virtually remain the same, with a slight reduction to $150, once the two new levies are included.

Matley Financial Services charge $135 plus GST to create a company plus the fee of $150 and the $10 name reservation fee make the cost of creating a company $295 plus GST - this remains unchanged from previous years.

ANNUAL RETURNS

The company annual return fee is being re-introduced as the Companies Office can no longer continue to provide this service for free. The new annual return fee will be $45, this includes a $25 registration fee, a $10 FMA levy and a $10 XRB levy.

This will increase the cost of the annual return fee from Matley Financial Services to $95 plus GST per year for filing an annual return. The $50 that we charge is our time to ensure compliance with the Companies Act and retaining correct records on file.

FMA AND XRB

The Financial Markets Authority (FMA, an independent Crown entity established on 1 May 2011, is NZ's financial services and market conduct regulator. FMA's operational activities contribute to improving confidence in capital markets and financial service providers through education, licensing and supervision.

The External Reporting Board (XRB) is responsible for all aspects of financial reporting and auditing and assurance standards setting.

New Zealand needs well-functioning capital markets to provide a vital source of finance to help our businesses grow, this includes having clear rules and regulations for market participants to follow.

Through the establishment of the FMA and XRB the government aims to restore investor confidence and help drive economic growth in NZ. In order for the FMA and XRB to do their job they need to be adequately resourced and the collecting of levies is essential to fund this.

ACT DISESTABLISHING CHARITIES COMMISSION NOW LAW, 08 JUNE 2012

The Charities Amendment Act (No 2) 2012 (No 43) received the Royal assent on 6 June 2012 and comes into force on 1 July 2012. The Act disestablishes the Charities Commision and reassigns functions and duties under the Charities Act 2005 to a Board and to the chief executive of the Department of Internal Affairs.

The legislation was introduced to Parliament on 29 September 2011 as part of the Crown Entities Reform Bill (No 332-1). The Charities Amendment Bill (No 2) was divided from the Crown Entities Reform Bill by the committee of the whole House as Bill 332.3C.

The Charities Amendment Act (No 2) proposes a number of consequential amendments to other enactments relating to the Charities Commission. The Tax Administration Act 1994 has been amended by repealing the definition of "Charities Commission" in s 3(1) an substituting s 81(4)(fb).

 

PROPERTY VALUES INCREASING ACROSS THE COUNTRY

- qv.co.nz

Nationwide residential property values have risen again in May according to the latest QV index. This is after values had remained relatively steady for a couple of months. As a result values are up 1% over the past three months, 3.9% up over the past year, and are now 2% below the previous market peak of late 2007.

Sales activity has remained relatively strong for the past couple of months, with no evidence yet of the usual decline in sales seen over winter and there are now buyers who have been looking for a house for some time and either cannot find something that meets their needs or are being out-bid by other keen buyers.

 

UPDATE ON HEATH

Many clients have been asking about Heath. He is growing like a weed. He is now almost 7 months old - has three teeth (two lower, one upper) and loves to chew everything (especially Dad's calculator). He's a very social little boy with ready smiles for everyone. He's working hard on crawling and has rolling and shuffling backwards down pat.

Dad and Heath enjoying a drink at Scott's Epicurian in Hamilton

 

Heath at 6.5 months.

 


Comments

Mandy Hoggart
5 years, 5 months ago
More hair than Daddy - didn't take too long after all!
4 years, 5 months ago
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