Tag Archive for: New Zealand

IR developing SPFR (Special Purpose Financial Reporting) rules

We have some exciting news for you…

In September 2011, a cabinet decision was made to simplify financial reporting for businesses. The impact of this decision is that the majority of New Zealand companies will no longer have to prepare financial statements that comply with International Financial Reporting Standards. Whew, what a relief?

When’s this happening? It kicks off on the 1 April 2014, impacting on your 31 March 2015 annual accounts.

Has your accountant informed you yet? Probably not. This was mentioned at a recent tax seminar, that the days of your accountant simply providing your annual accounts are over.

Why is this important? You have the opportunity to learn how to prepare your annual accounts yourself to a standard that satisfies the Inland Revenue.

What does that mean for you? Serious potential cost savings!

Is that of interest to you? If yes, please send us your contact details through this link – Click Here and in the subject line type: SPFR.