Accounting news round up

Specialist accountancy website Netprophet.co.nz reports this week that a close eye is being kept on property investors and KiwiSaver managers.

Property investors with "form" during the boom who might have put sales on hold because of the downturn are being closely watched by the Inland Revenue Department and KiwiSaver investors are told to demand that KiwiSaver managers adopt Global Investment Performance Standards.

We also look at the effects of the accounting software provider MYOB shutting its payroll outsourcing service and the news breaks that Xero is launching a personal money manager early next year with BNZ.

Here is a selection of the stories from Netprophet this week:

Property in the firing line yet again

Accountants with clients whose property transactions may have been a little over-vigorous during the boom will not be able to relax because the boom is over. >>Read more

MYOB shuts its payroll outsourcing service

Accounting software provider MYOB is shutting its payroll outsourcing service because of limited demand and other payroll companies are reaping the benefits. » Read more

Xero targets personal market

Accounting software company Xero is launching a personal money manager next year where consumers will be able to see where their money is going and how to reach their savings goals. Xero has formed a partnership with BNZ and an internal pilot of Xero Personal will start at BNZ next month. » Read more

New Regulatory Act opportunity to be world leader

New Zealand has the opportunity to be a world leader in the development of effective laws and regulation Institute of Chartered Accountants chief executive Terry McLaughlin says. » Read more

Tax policies fingered for global financial crisis

Tax policies are the latest culprit to be fingered for the recent global financial crisis, according to a new report from the Association of Chartered Certified Accountants (ACCA). » Read more

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