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Accounting: Buying and selling a business (sponsored)
Accounting: Buying and selling a business (sponsored)

09 September 2025, 9:31 PM

Buying or selling a business can be complicated and understanding the tax consequences is crucial to maximising value and avoiding costly surprises.The way the transaction is structured can significantly impact both buyer and seller.Here are brief notes of some of the items to consider.Asset Sale vs. Share SaleMost transactions are structured as asset sales rather than share sales.An asset sale allows the buyer to “pick and choose” assets, such as stock, plant, and goodwill, and to avoid taking on unwanted liabilities.The seller, however, may face income tax on depreciation recovery (for fixed assets) and on trading stock.A share sale involves a transfer of shares basically buying a business as is where is inheriting historic liabilities.Care must be taken with shareholder current accounts as they are a debt owing by the company.A change of shares may also extinguish losses or tax credits, and requires special planning.Goodwill and IntangiblesAmounts allocated to goodwill are non-deductible for buyers. However, other intangibles, such as software or patents, may qualify for depreciation deductions.Ensuring the sale and purchase agreement clearly allocates values to different asset classes is essential to avoid disputes and optimise tax outcomes.If there is no agreement the values can be allocated by one party to the disadvantage of the other party.GST ConsiderationsIf both parties are GST-registered, the sale of a business can qualify as a “going concern” and be zero-rated for GST.To achieve this, specific conditions must be met, including that the business is capable of operating on its own.Otherwise, GST may apply, affecting cash flow and purchase price.Timing and StructuringCareful planning around timing — such as deferring settlement into a new income year — may help smooth taxable income.Vendor financing or earn-out arrangements also require careful tax analysis.In summary: In New Zealand, business sales can be structured to achieve tax efficiency, but the detail matters.Engaging tax advisers early ensures risks are managed and opportunities maximised.At David Hooper Chartered Accountants, we help local businesses make smart financial decisions. Get in touch today at [email protected] or call 09 421 1635.

Auckland House Prices Drop 20% From Peak
Auckland House Prices Drop 20% From Peak

09 September 2025, 12:29 AM

The latest QV House Price Index shows average home values across New Zealand dipped 0.8% in the three months to August, leaving the national average at $906,977.That’s 0.2% higher than a year ago but still 13.4% below the January 2022 market peak.Wellington has taken the hardest hit, with values now close to 30% down, while Auckland sits about 20% below its high.Within the Super City, Rodney has recorded a smaller drop of 12.5% (around $175,000), with values falling from $1,411,162 to $1,235,103.Waitākere saw the biggest decline, down 21.7% (around $260,000).QV spokesperson Andrea Rush said the housing market remains subdued.“As we head into spring, the slump is most pronounced in Wellington and Auckland, underscoring the scale of the correction since early 2022,” she said.She added that affordability is slowly improving as prices ease and interest rates fall, but high living costs, rising unemployment and stretched household budgets continue to restrict demand.QV valuer Hugh Robson noted that all Auckland areas saw values dip in the past three months.“Listing levels are healthy, with new townhouse developments recently completed or nearing completion. Well-located homes with some land are continuing to sell well, while townhouses with little or no land are proving less popular,” he said.For Coasties, the correction may offer new opportunities, with Rodney’s smaller fall leaving the area in a stronger position than other parts of Auckland.Know something local worth sharing?Send it to [email protected] — we’ll help spread the word.

North Shore Pair Sentenced for Dog Neglect
North Shore Pair Sentenced for Dog Neglect

08 September 2025, 11:14 PM

Two Aucklanders have been sentenced after admitting to the severe neglect of two dogs, Sarge and Tyson.The pair appeared in the North Shore District Court on 4 September, where they pleaded guilty to two charges of ill-treatment of an animal. Both received 12 months’ supervision, were disqualified from owning animals for five years, and ordered to pay $4,867.70 in reparations.SPCA inspectors were first alerted in March 2022, after concerns were raised about a white crossbreed dog, Tyson. On arrival, inspectors found Tyson underweight and another dog, Sarge, also in poor condition. Despite being provided with food, worming treatment, and advice, the dogs’ health deteriorated.By June 2022, Sarge had become critically unwell and was surrendered. He was found severely emaciated with pressure sores and had to be humanely euthanised. Tyson was seized soon after and also found to be in an emaciated state.SPCA Chief Financial Officer Jason Copus said the outcome was a stark reminder of the responsibility pet owners carry. “The suffering endured by Sarge and Tyson is utterly unacceptable. These animals were left to deteriorate over months without the care, nutrition, or medical attention they desperately needed, despite assistance from our SPCA inspectors.”This case underlines how easily neglect can slip into cruelty, and why speaking up when animals are at risk is so important.Seen something local we should cover?Let us know at [email protected]

A guide to voting in the local elections
A guide to voting in the local elections

08 September 2025, 9:30 PM

This week, distinctive orange envelopes will begin arriving in mailboxes across Aotearoa.This time around, they'll hold the voting papers for the local government elections.But what are the rules? And what do the strange acronyms mean?Read on for the essentials on how to vote, what you are voting for and when the all-important results will drop.Can I vote as soon as my voting papers arrive?You sure can. Voting papers will be posted to enrolled voters from Tuesday [September 9] to September 22.You can complete your voting papers as soon as it lands in your letterbox but Tuesday 7 October is the last day for posting your vote by mail.After this date, votes must be returned to a council ballot box by midday, 11 October.What am I voting for?Local elections are held every three years for regional, city and district councils.You can also vote for the mayor, and some residents vote for local and community boards.For this election, some councils that have Māori wards will be holding polls on whether or not voters support keeping them.Who should I vote for?Well we can't answer that.But if you're undecided or don't know who is running you can head to the website policy.nz. It provides candidate profiles and policies in a single place.Just tap in your address and you're given the local options.Website co-founder Ollie Neas said the website aimed to combat falling voter numbers and inform people, so the elections didn't turn into a game of 'Guess Who'.Also look out for local candidate events, news stories and pamphlet drops.STV or FPP - all about the acronymsMost councils use First Past the Post (FPP), while 15 councils use the Single Transferable voting (STV) system.In First Past the Post, the candidate with the most votes wins. You get one vote and that vote goes to one candidate.For single transferable voting, you rank candidates in their order of preference. You would write "1" next to your favourite candidate, "2" next to your second favourite and so on.With STV you still only have one vote but by selecting your preferences for all the candidates, your single vote can be transferred to your next favourite candidate if your most preferred candidate doesn't need all their votes to be elected.I've filled out my voting paper. What next?You can drop your voting paper in a post box, an orange voting bin provided by your council, or deliver it in person to one of the council's voting hubs.Councils list the locations of their orange voting bins on their individual websites.You can also post your voting paper at a post box. Check NZ Post's website for you nearest post shop.What if I'm not enrolled?You'll need to enrol before voting. Head to the vote.nz website and either enrol online or arrange for enrolment papers to be sent to you.You will then need to cast a 'special vote'.The best way to do this is to look at your council website.Councils will have a special voting location to cast a special vote, or pick up a special voting pack. If you can't make it to a special voting location, the council can send your special vote papers to you.If you didn't receive voting papers then you'll need to cast a special vote too.My dog ate my voting paperIf your voting papers are damaged or destroyed, then you'll need to cast a special vote. Here the exact same process applies as above.This seems like a lot of effort. Why should I vote?LGNZ president Scott Necklen said council decisions touch on our everyday lives, from flushing your toilet to the local rugby field.Councils are also making long-term decisions that impact children and grandchildren."Take the time to think about what's important to you and your family," he said of voting.When will we know the results?Progress results will start coming in from noon on 11 October.Declaration of results will be released from 16-22 October.Election timeline9-22 September: Voting documents delivered.7 October: Last day for posting vote by mail. After this date votes must be returned to council's ballot boxes.11 October: Election day - voting closes midday.October/November 2025: Elected members' sworn in.LDR is local body journalism co-funded by RNZ and NZ On Air.

Gambling Law Shake-Up May Hit Local Clubs
Gambling Law Shake-Up May Hit Local Clubs

08 September 2025, 3:08 AM

Every weekend, thousands of New Zealand children pull on team jerseys, play on well-kept fields, and benefit from the quiet dedication of volunteers.Few stop to think about where the money comes from for uniforms, buses or tournament fees.For decades, a large slice of that funding has been drawn from gaming machine (“pokie”) revenue, redistributed into communities through grants.That pipeline is now in danger of being broken.The government’s proposed Online Casino Gambling Bill – due for its second reading in parliament soon – would regulate and license up to 15 offshore casino operators in New Zealand.On the surface, this looks like common sense: rein in an unregulated online market, protect consumers and tax the industry.But buried in the detail is a potentially serious unintended consequence: there is no requirement for licensed online casinos to return a share of their revenue to community funding.For grassroots sports, already struggling with a volunteer crisis, this could be another blow.Each year, around NZ$170 million flows from gaming machine profits back into communities.These grants are lifelines for sports clubs (as well as arts groups, community health initiatives and local charities).They don’t just buy jerseys, they keep clubs alive.If online casinos are legalised without community return requirements, the fear is that gambling dollars will shift away from local pokie venues and into the pockets of offshore operators.Community organisations would then suffer.Sports leaders have spoken out already. Chair of Cycling NZ Martin Snedden has called the proposal a “crazy move” that poses a “massive risk” to grassroots sport.Without those grants, he says, thousands of small volunteer-run organisations will struggle to survive.Volunteers under pressureThe timing could hardly be worse for a volunteer sector that’s been under strain for years.Once thriving clubs are now struggling to recruit and retain people.My research with volunteer coaches and administrators shows compliance demands are growing, from child safeguarding checks to health and safety paperwork, meaning fewer people are willing to take on such roles.The rising cost of living means fewer families can afford club fees or take unpaid time to help.Reduced community funding will only exacerbate the problem.Supporters of the Online Casino Gambling Bill point to its intended benefits: a safer, regulated gambling market that protects consumers, generates tax revenue and imposes strong rules on age limits and advertising, with hefty fines for non‑compliance.They also highlight the government’s promise of $81 million to address gambling harm through treatment and prevention.For generations, however, New Zealand has operated on a social contract: gambling is permitted on the condition that profits are partially reinvested in communities.This isn’t to say the pokie system is ideal.A 2021 report released by Hāpai Te Hauora-Māori Public Health and others, “Ending community sector dependence on pokie funding”, described pokies as a harmful model that makes community organisations dependent on losses from the very people they’re trying to support.Written in the wake of COVID’s disruption to gambling revenues, the report argued it was the ideal moment to shift to a fairer system, calling for the government to directly fund community and sport grant recipients.The new bill, however, doesn’t resolve the bigger picture.It may reduce some consumer harms by bringing offshore casinos under regulation, but it does nothing to replace the community funding that will be lost.Instead, it simply cuts community organisations out of the loop.The consequences will likely be felt widely:clubs will fold or be forced to cut programs, and participation will shrink, especially in low-income areas where grants have been most crucialwealthier communities may survive on fees and private sponsorships while poorer ones won’t, deepening inequalitywith fewer resources, volunteers will face even greater pressure as they are expected to do more with lessand the social cohesion enhanced by community groups is undermined.A consistent approachThe solution could be relatively simple, if politically inconvenient: apply the same community return principle to online casinos that already exists for pokies.That could mean:requiring licensed online operators to contribute a fixed percentage of gross gambling revenue to a community trustring-fencing a portion of tax revenue for community funding (beyond gambling harm services)establishing a transparent framework so communities can see and trust where the money goes.Another option, raised in the Hāpai Te Hauora report, is for the government to move away from gambling reliance altogether and directly fund community and sports groups.The $170 million a year is hardly unmanageable, and it would signal a commitment to sustaining the volunteers and organisations that underpin community life.These approaches would be consistent with New Zealand’s longstanding gambling policy principle: if governments allow gambling to expand, they must also support the communities that feel the downstream impact.For parents watching their children play on Saturday mornings, for volunteers balancing spreadsheets late at night, and for already stretched communities, this is more than just another abstract policy debate.Author: Blake Bennett - Senior Lecturer in Sport Coaching and Pedagogy, University of Auckland

Lawn Etiquette: A Neighbourly Guide
Lawn Etiquette: A Neighbourly Guide

07 September 2025, 9:13 PM

On the regular early morning walk, you see it all—freshly striped lawns, shaggy patches waiting for attention, and the odd berm left to the wild. It is part of the mix that makes Hibiscus Coast streets familiar, but there are a few quiet customs that help things tick along smoothly.Most neighbours reckon a mower sounds best after 9 am, especially on weekends. The official rule is no mowing before 7 am or after 10 pm, but a later start keeps the peace.Clippings are another one. It is easy to let them scatter onto the footpath or across the fence, but sweeping them back onto your own lawn keeps things tidy and makes for handy mulch. A quick check of where your mower chute is pointing saves cars and fences from a peppering of green.Berms are part of the picture too. Council leaves them to us, and when they are mown, the whole street feels tidier.And then there is neighbourly give and take. If you want to help trim a shared edge, or need a car shifted before mowing, a quick word usually does the trick.Hibiscus Coast App Tips:If the grass is brushing your ankles, it's probably too long.Aim for 3–5cm—once it hits 8–10cm, mowing is harder and messier.In spring and summer, try not to leave it more than 2–3 weeks.None of this is heavy stuff—it is just the small courtesies that keep our streets neat, our mornings quieter, and our walks more pleasant.Know something local worth sharing?Send it to [email protected] — we’ll help spread the word.

House Prices Keep Sliding Into Winter
House Prices Keep Sliding Into Winter

07 September 2025, 12:06 AM

Property values across New Zealand slipped another -0.2% in August, marking the fifth straight monthly fall, according to Cotality NZ’s latest Home Value Index.National values are now down -0.6% in 2025, wiping out the small gains seen late last year.The median home is sitting at $809,113, the lowest since August 2023 and still -17.2% below the January 2022 peak.Chief Property Economist Kelvin Davidson says the downturn that followed the post-COVID boom has steadied but not yet turned.“Caution is the dominant theme,” he said, noting that rising unemployment and subdued confidence are keeping a lid on growth.Auckland continues to feel the pinch, with August falls across every sub-market.Image: Cotality NZAuckland City, North Shore, Manukau, Papakura, and Waitakere each dropped between -0.4% and -0.6%.Franklin and Rodney fared a little worse, while Rodney’s three-month drop of -1.3% was the smallest of the region.Even so, all Auckland areas remain -20% to -25% below peak values.For Coasties, that means it’s still a buyer’s market.First home buyers and smaller investors are holding a bigger share of activity, helped by lower mortgage rates and more choice on the market.Sellers, meanwhile, may find it harder to get prices they’d hoped for.Looking ahead, Davidson expects steadier growth only from 2026, with lower mortgage rates, easing unemployment, and fewer listings likely to bring some balance back to the market.Seen something local we should cover?Let us know at [email protected]

Customer told it would cost $7500 to disconnect gas
Customer told it would cost $7500 to disconnect gas

05 September 2025, 10:07 PM

A business customer who was told it could take two months and $7500 to decommission gas is one of a number who complained to complaint resolution provider Utilities Disputes (UDL) about gas disconnection issues.UDL said most of the complaints it received related to disconnections were due to payment arrears, when a disconnection and reconnection fee could apply.But fees that were sometimes substantial were also charged when a gas supply was permanently stopped, it said.UDL received 35 complaints in the past six months about gas disconnection, compared to 11 in the previous six.The number of complaints about decommissioning had been increasing steadily over the years, from one in 2021 to seven so far this year.When UDL looked into the complaint about the $7500 charge, the company reduced lines charges by 30 percent while waiting for the decommissioning. UDL did not identify the companies involved.Auckland gas lines owner Vector told RNZ that from next month it was changing its pricing for permanent gas disconnections "to enable full cost recovery" when someone wanted the gas infrastructure taken off their property.The cost ranges from $750 to $2500.In Wellington it costs $1500 for a disconnection, while in Wairarapa it is about $700.If gas is disconnected at the house but not fully decommissioned, some retailers can continue to charge a daily fee for the gas supply.Paul Fuge, Powerswitch general manager, earlier said gas supply to residential homes was in a "death spiral", with prices rising quickly.A reducing number of customers were having to pay increasing network costs. Those who could not afford to leave - or were not able to - were left with the bills, he said.Gas NZ chief executive Jeffrey Clarke told Nine to Noon people who were thinking about disconnecting should talk to their retailer, who could explain the charges involved.He said residential customers did not need to worry about the future availability of gas and there was an increasing supply of biomethane coming into the system.But Andrew Eagles, chief executive at Green Building Council, said the "death spiral" claim was accurate.He said the decommission and disconnection situation was a "shambles" and people did not have enough information at a time when it would benefit the country to have them move away from gas.He said it did not make sense that at the same time that industrial customers were struggling for gas, more homes were connecting.He said it seemed unlikely that biogas would be the saviour of the system."It's many times more expensive… we've already seen gas prices rise 18 percent year-on-year."

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