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Budget 2011 – three perspectives

At 2pm today the Government lifted the press embargo on Budget 2011. As they did last year, Vicki Ammundsen and John Peterson have agreed to share their views on the Budget. We have also asked Stephen Tomlinson to join us. We have recorded the discussions, and you can listen to them here:

Vicki Ammundsen- Partner with Ayres Legal - Vicki gives her overall impression, and discusses the changes in the Budget as they relate to working for families.

John Peterson- Partner with Minter Ellison - John also gives his impressions, and then discusses in more detail the changes that relate to Kiwisaver.

Stephen Tomlinson – Principal of Tomlinson Law – Stephen gives his impression on the Budget, discussing various issues, such as IRD enforcement action, mixed use assets and Canterbury related issues.

Please note that none of the content of this post should be relied upon as legal or any other advice, but is comment of a general nature only.

For accounting and tax assistance click here: accountants in Christchurch.

2 Responses

Nabil Kirolous on May 20, 2011 at 7:16 am

We based in CHCH where no work and no market as we are developer, Residential houses market is nill, Please consider the situation

Jonas He on July 25, 2011 at 11:13 am

Hi Sybrand,

The new depreciation relief for Canterbury quake contains a ratio calculation. In the April 11 Fact Sheet, IRD gave an example (no.1). It shows that accu deprn=300K, replacement costs is 400K for Yr 1 & 2. So for Yr 1, rollover costs= 400K * 300K/1m=120K, Yr2 the same, the bal of 60K is brought to income. It didn’t give further explanation on why the 60K is brought to income. Do you have any idea?

Kind regards,

Jonas

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