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Otago Daily Times
10-07-2025
- Business
- Otago Daily Times
Over $1m owed: liquidators
A Wānaka-based cleaning business owes creditors more than $1.75 million, the first liquidator's report shows. The Cleaners Wānaka Ltd was placed in liquidation on June 5 in the High Court at Dunedin on the application of the Inland Revenue department. The cause appeared to be failure to account for taxation, the report said. The liquidator had not established contact with the company director and a statement of affairs had not been received. The liquidator was conducting searches and investigations to locate any further asset interests that were of benefit for creditors. An overdrawn current account was estimated at more than $347,000. The Companies Office website showed the company was incorporated in 2013 and its shareholders and directors were Valkiria Domingues and Fabio Teles Domingues.
Scoop
11-06-2025
- Business
- Scoop
New Zealand Hits Digital Economy Milestone
Minister for Small Business and Manufacturing A key milestone in the push for a more connected digital economy has been reached, with over one million businesses now registered with a New Zealand Business Number (NZBN), Small Business and Manufacturing Minister Chris Penk says. 'The NZBN is a simple idea with a big impact. It gives each business a unique identifier that makes it easier to work with government, other businesses and suppliers – saving time, cutting duplication and reducing admin. 'The NZBN creates a single, trusted source of business data that government agencies can access in real time. Other businesses and individuals can also look up an NZBN to confirm the legitimacy of the company they're dealing with. 'The milestone includes nearly 200,000 sole traders and unincorporated businesses, which aren't legally required to register but are choosing to. That shows they see real, practical value in it – especially smaller operators who may not have large digital systems and need tools that help them get on with the job. 'Today's achievement reflects a broader trend: businesses are increasingly embracing digital solutions that streamline operations and lift productivity. 'Since its launch in 2016, the NZBN has become a cornerstone of New Zealand's digital infrastructure, supporting everything from invoicing and procurement to compliance and emergency response. 'As more businesses sign up and keep their information up to date, the NZBN becomes increasingly valuable – enabling smoother digital transactions and smarter use of emerging technologies like artificial intelligence. 'With improved data sharing between agencies, government can also deliver faster, more tailored services for businesses. 'This Government is committed to backing businesses and driving economic growth. Modernisation like this is key to helping Kiwi businesses thrive and compete globally. If you haven't registered for a New Zealand Business Number yet, now is the time.' The NZBN application is included in the process for registering with the Companies Office. Other businesses self-employed (Sole Trader), Partnerships or Trust have the option of applying for an NZBN. For more information and to sign up for an NZBN you can visit:
The Journal
05-06-2025
- Business
- The Journal
Michael Healy-Rae's property firm nets €465k profit from Ukrainian guesthouse accommodation
A MICHAEL HEALY-Rae-owned property management firm linked to the Kerry TD's Rosemont guesthouse accommodating Ukrainians recorded bumper post tax profits of €465,860 in 2023. New accounts filed by Healy-Rae's Roughty Properties Ltd show that it recorded the €465,860 post tax profit in its first year in operation from 9 May 2022 to 31 May 2023. The abridged accounts don't disclose revenues, but they do show that at the end of May 2023, the company's cash funds totalled €555,933. The overdue accounts were filed after a district court order dated 13 May last extended time in which the annual return could be lodged with the Companies Office. The annual return shows that Minister Healy Rae owns 100 per cent of the share capital of the company. The Kerry TD's entry in the Dail Register of Members' Interests state that the main activity of Roughty Properties Ltd is 'management of rental properties'. In the register, Minister Healy-Rae describes himself as an owner of rental properties and his entry lists 17 separate properties for letting, including 14 houses. Separate figures published by the Department of Children, Equality, Disability, Integration and Youth show that Healy Rae's Rosemont House in Tralee received €1.22m from the State during the two years and three months up to the end of December 2024. In 2022, Kerry County Council refused planning permission to Healy Rae's Roughty Properties Ltd's application for a three storey extension to expand guest capacity at Rosemont Guest House. Advertisement The new accounts confirm that the Roughty property firm is now Healy Rae's most profitable enterprise. Separate accounts filed earlier this year by Healy Rae's plant hire firm, Roughty Plant Hire Ltd, show that its accumulated profits increased by €74,887 – from €734,024 to €808,911 -in the 12 months to the end of April 2024. The post-tax €74,887 profit at the plant hire services business was an 80 per cent increase on the €41,415 post-tax profit for the prior 12 months. During the 12 months up to April 2024, the company's cash funds more than doubled from €198,748 to €434,224. Numbers employed at the Kilgarvan based business during the year declined from 12 to five. Separate accounts for another Michael Healy-Rae firm which operates a fuel station and grocery shop in Kilgarvan show that it recorded post tax losses of €26,986 last year. Accounts for Black Cap & Company Ltd show that the firm recorded the post-tax losses of €26,986 in the 12 months to the end of April 2024, down sharply on the post-tax losses of €67,583 in the previous year. Last year, numbers employed by the business declined by one to 15, including directors. The company operates from a building housing a shop at Kilgarvan village. Healy-Rae's entry to the Dail's members' register of interests lists his other occupations as postmaster, farmer, service station owner and owner of rental properties. The Kerry TD also has shares in the New York Times, and owns 146 acres of farmland and forestry.
National Business Review
04-06-2025
- Business
- National Business Review
FNZ drives deeper into loss
Fund administration fintech FNZ Group has plunged further into the red amid a dispute with employees over the value of equity incentives. Financial statements filed to the Companies Office show a 2024 net loss of US$713.3 million ($1.19 billion) for the year to December 2024, a deterioration from a
Scoop
14-05-2025
- Business
- Scoop
Sound The Sirens: Are Voluntary Associations Under Attack?
Press Release – LEAD LEAD co-director, Garth Nowland-Foreman, asked today, What has this government got against community groups and member associations? And where is the Minister for Community & Voluntary Sector, when a regulatory barrage is being unleashed on the … A social enterprise that supports thousands of non-profits across the country, LEAD Centre for Not for Profit Governance and Leadership, is sounding the alarm on an unprecedented tax and fee grab from the country's voluntary and community organisations. LEAD co-director, Garth Nowland-Foreman, asked today, 'What has this government got against community groups and member associations? And where is the Minister for Community & Voluntary Sector, when a regulatory barrage is being unleashed on the sector?' 'At a time when social cohesion in this country has dropped below that of our Australian neighbours, membership associations are one of the most important vehicles in helping to build stronger communities, practice democracy, and support social cohesion.' Tax on Charities' earned income First, the government tried to tax charities, and while now been put on hold for this Budget (because it would be excessively complicated, add compliance costs, and still not raise any significant revenue), the threat still hangs over the heads of thousands of charities. And Charity Services is requiring charities to separately list so-called 'commercial' income in this year's annual returns. Tax on Associations' membership fees Inland Revenue now proposes to impose income tax for the first time on subscriptions and other transactions among members of community associations (ED0265). This will overturn a 70-year-old tax understanding of the 'principle of mutuality', with tax specialists warning it could threaten the existence of some small clubs and societies. Fees hike for Incorporated Societies At the same time the Companies Office is ignoring the public-good contribution of these same non-profit associations, with a major hike in one fee, and the introduction of three new fees for incorporated societies, including one that for the first time will need to be paid every year in perpetuity (Review of Companies Office Fees and Levies, 2025). Following funding cuts and increased compliance LEAD co-director, Sandy Thompson, said: 'This follows cutbacks in funding for many non-profits doing important work in the community. Many are still grappling with a new Incorporated Societies Act, which itself imposes increased compliance costs, and is demanding thousands of incorporated societies across the country re-register with new constitutions by April next year or risk loosing any legal protection. 'While individually, each of these threats may not appear monumental, taken together it's hard for community groups not to feel under attack, just at a time we should be supporting them even more.' Background information: Tax on membership fees: Increased fees for Incorporated societies: Complying with new Incorporated Societies Act: Cuts to Charities' funding: Who is LEAD? LEAD Centre for Not for Profit Governance & Leadership was established ten years ago to provide evidence-based training, coaching and other support to not-for-profit organisations and their leaders across Aotearoa New Zealand and the Pacific. In that time thousands of leaders and their organisations have been assisted by its consortium of highly expert and experienced not-for-profit consultants and facilitators.
