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FINANCIAL INFIDELITY IN MARRIAGE

FINANCIAL INFIDELITY IN MARRIAGE; HAVE YOU EXPERIENCED IT? Financial infidelity in marriage is the biggest danger to your marriage.   Contrary to popular belief, a spouse with a roving eye is not the biggest danger; it is financial infidelity. You may be surprised to learn that financial infidelity in marriage is more common than you think. According to a 2014 survey by the National Endowment for Financial Education:
  • 33% of people with combined finances have lied to their partner about money.
  • 30% concealed a purchase, bank account, statement, bill or cash
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Ways to pay are changing

Inland Revenue are making a few changes to the way customers can make payments to them.  From 1 October 2014, customers will no longer be able to make cheque payments or drop off returns and forms at Westpac.  Cheque payments posted to Inland Revenue must also arrive on or before the due date to avoid late payment penalties and interest. Encourage your clients to use electronic channels to make payments to Inland Revenue.
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Order in Council: Tax Administration (Financial Statements) Order 2014

From 1 April 2014, companies including "look-through companies" that do not prepare financial reports to a higher authoritative accounting standard will be required under section 21B of the Tax Administration Act 1994, to prepare financial reports to a minimum standard as set out in the Tax Administration (Financial Statements) Order 2014 unless otherwise exempted from doing so.
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