Blog

NZ Interest Rate Hiked to Stem Inflation

Blog
The Reserve Bank of New Zealand (RBNZ) has raised the official cash rate (OCR) by 25 basis points to 0.75%. This is the second time in two months that the central bank has raised interest rates in an effort to curb inflationary pressures. This is amid the easing of pandemic…

Cryptocurrency Scams Targeting Millennials

Blog
Crypto scams are now on the rise, with scammers seemingly setting their sights on younger demographics. A recent press release from Consumer NZ highlighted the case of a tax accountant in Auckland who lost $100,000 to such a scheme. The woman identified as Rachel was approached through a dating site.…

Westpac NZ Records $1.01B Profit as Its Share Value Tanks

Blog
November 1 was a mixed bag of results for Westpac that announced it had made an annual profit of $1.01 billion over the last year ending in September 2021. This profit was a 56% increase on that of the previous year, a margin higher than the 39% increase recorded by…

HP New Zealand Reports Increase in Cybersecurity Attacks On SMBs

Blog
The 2021 HP New Zealand IT Security Survey has found that small businesses have this year suffered double the amount of cyberattacks as in 2018. Despite growing investment in IT security in recent years, small businesses have endured additional costs associated with the attacks. The average cost for each attack…

RBNZ Mulls Launching Digital Currency

Blog
The Reserve Bank of New Zealand (RBNZ) has opened up public consultation over proposals to introduce a central bank digital currency (CBDC). RBNZ Assistant Governor, Christian Hawkesby, has said that the trends in cash could pave way for greater innovation in money. This stems from the content in recently released…

Accountants for Zero Emissions

Blog
The impacts of climate change are affecting the world already and is expected to worsen if not combated. As a result, many companies have started looking to turn green. Although initially it can be confusing where to start, accounting bodies are following suit. Chartered Accountants Australia and New Zealand (CA…

RBNZ Hikes Benchmark Interest Rate

Blog
In an attempt to cool a heated property market and rising inflation, New Zealand’s central bank has announced a hike in its cash rate by 25 basis points on Wednesday. Economists had expected a hike over a month ago, but the response was shelved following the most recent Covid-19 outbreak…
bitcoin

Bitcoin Fund Aims To Tap Into New Zealand Market

Blog
A new investment fund opened in New Zealand to allow investors to add the popular cryptocurrency Bitcoin to their portfolio. Without needing to commit to full, direct ownership, investors will be able to access digital assets like cryptocurrencies without the risk. The Vault International Bitcoin Fund is the first in…

New Interest Deductibility Rules to Net Government $1B Over Next 4 Years

Blog
The New Zealand government’s proposed changes to interest deductibility rules on residential properties are expected to see it generate an estimated additional revenue of $1 billion over the next four years according to a statement given by Revenue minister, David Parker. The key change that will contribute to the government’s…