Anti-Money Laundering and Countering Financing of Terrorism : Phase 2

As an Accountant I am captured by the recent changes to bring in phase 2 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act).  Phase 2 extends the current AML/CFT Act 2009 to cover more businesses. It now includes lawyers & conveyancers, accountants,  real estate agents, and the New Zealand Racing […]

International Fraud Awareness Week: Inheritance Scams

International fraud awareness week is observed 11-17 November 2018.  Only the week prior I saw first hand a person who has fallen victim to an elaborate international scheme set up by dishonest individuals.  An elderly man popped into our office asking for advice on investing a large inheritance he was going to receive. The AML/CFT […]

Yoast SEO Plugin – Provides interesting content analysis

I recently installed the Yoast SEO Plugin for WordPress. The plugin has provided me with an interesting analysis on how I write content.  I have noticed that I use the passive voice far too much in my posts. Also my sentences and paragraphs are too long, and I use far too many consecutive sentences.  It […]

Offshore Bank Account and Credit or Debit Card

New Zealand tax residents are generally taxed on their world-wide income you derive. This includes foreign income even if it is simply funding an offshore credit card or is deposited in an offshore bank account. The types of funds that are deposited into these bank accounts vary and include income paid by a non-resident employer, […]

Changes to Financial Reporting Requirements

There have been discussions about the changes to the financial reporting requirements for small and medium-sized companies (SME’s) for some time now. It was announced on 13 March 2014 that these changes will come into effect on 1 April 2014. The changes are meant to save compliance costs significantly for most SME’s in New Zealand, […]