In the event I were to win Lotto, marry a millionaire, or take charge of the sad status of my bank account, I’d want to assess whether a trust might work for me. What are they? Is it only for the rich to hide their money? It’s also been more than two years since the long-awaited Trusts Act 2019 came into force in 2021. I spoke to trusts aficionado Otago University law professor Nicola Peart to find out. Read more >
As the financial year draws to an end, it’s a chance for accountants across the country to shine bright like a diamond.
They are the heroes among us. For the self-employed people hoping to take a do-it-yourself approach - the tax vortex is as complicated as it is vague.
If you, like me, are mathematically challenged, there is hope: you can claim accountancy or tax agent services against your income.
Nevertheless, can you deduct that mid-century couch you occasionally use while working from home? And when does a casual evening out with friends become work if the friendship leads to a business deal? Thanks to help from Inland Revenue, I sought answers. Read more >
Budget 2023 mentioned funding for the legal aid system. The bumps in funding were actually announced in last year’s budget, which promised an increase of $148.7 million across four years. So, the situation hasn’t changed.
In the last year I’ve highlighted the extensive court delays and problems associated with raising legal aid hourly rates by 12 per cent. Thanks to information gathered via the Official Information Act last year, the 12 per cent increase only affected 8 per cent of legal aid work.
Then there was the Criminal Process Improvement Programme (CPIP), which promised to reduce court delays, address underlying causes of offending, and improve access to justice.
Alas, one of CPIP’s policies could financially incentivise duty lawyers to have their clients enter guilty pleas. In addition to the $98 hourly rate for weekday hearings, duty lawyers could get $70 if defendants pleaded guilty, and $120 if clients entered a plea and were sentenced the same day. Big mistake. The policy was pulled.
It’s not to say lawyers would unethically use this policy, but it highlighted the fact they’re not paid enough.
Rather than harp on about the dire state of legal aid, let’s look at who is getting the bulk of legal aid work. The Ministry of Justice releases legal aid payments made to approved providers, including those claimed on behalf of other approved providers, every year.
This list gives an indication of how the total $210.8m legal aid fees between July 2021 and June 2022 were distributed. Read more >
Come February next year, Countdown’s Onecard will be no more, and a new Everyday Rewards loyalty programme will take the stage for the Woolworths supermarket giant.
I paused for a moment of silence to pay my respects to the million-odd Onecards that are hidden throughout various handbags, coats, and junk drawers throughout the country.
On top of discounted prices, people can expect a point for every dollar spent or litre purchased at Countdown or BP. In exchange for two thousand points, you’ll get a $15 voucher. Not doing so means paying more at the checkout.
Accounting for the marketing, reward costs and operations of these loyalty programmes, why do companies do them? Data collection and personalised targeted marketing, folks! Read more >
Who would have thought Weet-Bix would bring the country’s questionable competition and charities framework into focus and open Pandora’s box in the process?
Sanitarium made headlines in September, saying it would stop supplying Australasia’s national treasure to The Warehouse, citing supply issues. Questions emerged why the Seventh-day Adventist-owned company didn’t ration its supply among its retailers.
Following a “please explain” letter from the Commerce Commission, Sanitarium said it would reinstate its supply agreements and no breach of the Commerce Act had occurred.
New Grocery Commissioner Pierre van Heerden said Sanitarium’s decision to continue to supply The Warehouse was “a real win for Kiwi consumers”.
“It’s encouraging to see suppliers and retailers work through these sorts of issues, and that is what should happen in a well-functioning market,” van Heerden said.
The watchdog was “extremely concerned” about supply shortages impacting one retailer and acted on it accordingly. While Sanitarium’s response was still under consideration, the Commerce Commission wouldn’t comment further. Read more >
Sasha Borissenko is a freelance journalist who has reported extensively on the legal industry.
