Cloud accounting

Property prosperity and interest rates

The NZ Herald recently ran an interesting article about a young lady from Auckland, who despite the stories of housing un-affordability has, at the age of just 24, managed to own a property in Auckland and a bach in Pauanui (a swanky beach resort on... Read more

Interest rates and thunder clouds

In a surprise move the Reserve Bank has reduced the Overnight Cash Rate (OCR) by a quarter of a percent to 2.25%. That was unexpected, given the domestic economy is performing quite well, but takes into account international “risks”... Read more

Changes to retention payments

  Last October Parliament ¬†passed legislation giving better protection to building subcontractors (subbies) by tightening up on retention money held by lead contractors and developers. The changes are included in the Construction Contracts... Read more

How a private equity investor made $500m

The receivers have been called in to Dick Smith Electronics (DSE), which operates 331 stores in Australia and 62 in New Zealand. Another retailer getting into trouble is not earth shattering news, but the history behind the company is an... Read more

Interest rate clarity

The big news of the week has been the Reserve Bank’s decision to lower the Overnight Cash Rate (OCR) by a further 25 basis points to 2.5%. Most of the trading banks reacted by lowering their flexible mortgage rates by the same amount... Read more

Licensed Builders and continuing education

The leaky homes debacle has given rise to some pretty seismic changes in the building industry. A fair chunk of the blame was, rightly or wrongly, put on so-called cowboy builders. The upshot is a Licensed Building Practitioners (LPB) scheme that is... Read more

China’s bubble has burst

While the Samoan rugby test dominated the news in New Zealand last week, the eyes of the world were on a remarkable economic event taking place in China. Since the middle of June Chinese share prices have collapsed 30%. The response of the Chinese... Read more

Interest rates and property prices

There are some pretty seismic things happening in the finance markets at present. Last week the Reserve Bank lowered the Official Cash Rate (OCR) by 0.25% and signalled further reductions are possible (the reviews are six-weekly). My translation of... Read more

IRD after their “fair share”

The IRD is getting serious about collecting its “fair share” of tax from property investors. In the last five years its property auditing activities have collected $258m in additional tax. So it’s not surprising a cash-strapped... Read more

Earthquake rule changes

Earlier this month the Minister for Building and Housing, Nick Smith,¬† announced “a more refined approach” to dealing with the problem of earthquake prone buildings. The current rules had come in for mounting criticism and just a few... Read more