Alert: Countdown to company director changes

As discussed previously from 28 October all New Zealand companies must have at least one director who lives in New Zealand, or who lives in Australia and is a director of an Australian registered company.New Zealand companies that don’t comply risk being removed from the Companies Register. The law change has been phased in to give companies time to prepare.If your company doesn’t have a New Zealand-based director, you will need to appoint one who lives in New Zealand or in Australia.There’s also additional information about directors you’ll need to provide when filing your Companies Office annual returns.

To-do list

When: By 28 OctoberWho: All companies on the New Zealand Companies Register.What action to take:Make sure you have a director who:

• lives in New Zealand or
• lives in Australia and is also a director of an Australian incorporated company.

If you have any concerns please contact us.This post is from Jason Lougher. Jason is a chartered accountant who moved back to the Bay of Plenty – his favourite part of the world – to work with small and medium enterprises. Jason’s passion is taxation and effective tax structuring, trust set up and intergenerational planning, Inland Revenue audits and tax disputes, and business development. Jason works closely with the other directors to combine their skill sets to achieve the best outcome for clients. Additionally Jason is on the NZICA Bay of Plenty Local Leadership Team and is a Business Mentor with Business Mentors New Zealand.Legacy Chartered Accountants has offices in Whakatane and Tauranga.