Indian Newslink Feb 15, 2016 Digital Edition

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8 FIJILINK February 15, 2016 Labasa students set for reunion in Auckland Parliament suspends Opposition MPs Sudesh Kissun Former students of a prominent school in Labasa, Fiji are gathering in Auckland next month for a reunion. Organisers of the All Saints Secondary School Ex-Students Reunion promise a fun-filled night on March 19, 2016. The event will be held at the India Gate Restaurant, 380 Manukau Road, Epsom from 7pm. Organising Committee Chairman Daniel Pillay said that the event is open to all Ex-All Saints Secondary School students and teachers. “Many former students of the School have made Auckland and New Zealand their home. This event is a wonderful opportunity for these ex-students and former teachers to catch up with old friends,” he said. No fundraising Mr Pillay said that the forthcoming Reunion is not a fundraising event but an evening for old schoolmates to catch up. “We may be living in the same city but understandably we have been unable to catch up with former classmates. This reunion will be a night of renewing old acquaintances and reminiscing the good old school days,” he said. Mr Pillay said that the Organising Committee has set Daniel Pillay up a Facebook Page-‘All Saints Secondary School Ex-Students Reunion.’ According to him, the Facebook Page has more details about the event. People can confirm their attendance by paying their tickets online. Account details and payment method are also outlined on the Facebook page, he added. Facebook Connection Those not on Facebook can contact the following organising committee members; Daniel Pillay (021-0425517), Sadhana Reddy (021-1290515) and Sadhana Narayan (021-2527400). The cut-off date for confirming attendance is Monday, March 14, 2016. Run by the Anglican Church of Fiji, All Saints Secondary School is located at Vulovi,four kilometres from the town centre. This school is still going strong with a long history of developing education for multiracial students in the Northern Division. It started off as a boy’s school, but later became co-educational. The school is located close to the Qawa River, Labasa Sugar Mill and Labasa Prison and Divisional Government offices. The area is called Vulovi because it is located at the lower part of the Qawa river. Floods often trouble Labasa affecting All Saints School as well. ‘Vulovi na vanua ni vanua ni salusalu’ is a popular song in Labasa. What: All Saints Secondary School Alumni When: Saturday, March 19 At 7 pm Where: India Gate Restaurant, Epsom, Auckland Tickets: $30 per person Contact: Daniel Pillay on 021-042551; Sadhana Reddy on 021-1290515 Sadhana Narayan on 021-2527400 The Fijian Parliament has suspended the National Federation Party and its members, following a debate in the House on February 9, 2016. Media reports said that the Party has been suspended for 30 days for contravening the Political Parties Registration, Conduct Funding and Disclosures Decree. The suspension included NFP Leader and Member of Parliament Dr Biman Prasad. The Registrar of Political Parties Mohammed Saneem said that NFP’s accounts were audited by a company which was not certified by the Fiji Institute of Accountants. Attorney-General Aiyaz Sayed-Khaiyum moved a motion in Parliament to endorse the suspension of the Party and its Parliamentarians from sittings of the House and committees during the suspension period. The Opposition claimed that the issue was before the courts and should not be debated. But Speaker Jiko Luveni said that she was not aware of the court case. Mr Sayed-Khaiyum refuted the claim saying the matter was within Parliament and not a legal proceeding on which one could comment. Legal difference He said that the Opposition did not understand the legal difference. Dr Biman Prasad, National Federation Party Leader Mr Sayed-Khaiyum had said on February 1 that the Registrar of Political Parties had issued a notice suspending the privileges of NFP as a political Party. “Because NFP registration was suspended, this basically means that NFP cannot operate, function and represent itself as a political Party,” he said in Parliament. Opposition MP Niko Nawaikula said that as a consequence of the motion in the past, the court should order a judicial review. He said that the suspension was only for administrative purposes and that the government should have waited until Parliament had debated the issue. Outspoken SODELPA MP Mosese Bulitavu agreed. The motion was approved with 29 votes to 14 while seven members abstained. Source: Fijilive, Fiji Times OpenHeart Surgery TheMinistryofHealth Fiji, wishes to advise thatopenheartsurgery (CABG) will be performed in CWMhospital,Suvadetails areasbelow: 1Screening of patients…………..Freefrom4.2.2016 to 12.2.2016 2. Angiogram from 4.2.2016 to 20.2.2016 3. CABG from 14.2.2016 to 26.2.2016 Medical procedures areperformed under the jointventure agreementbetween MinistryofHealth and Medical DiseaseTreatment Cardiology CABG NonInsurance Pa ents(Fiji Residents) F$ 20,OOO -F$25,000 PLus VAT InsurancePa ents (FijiResidents) F$ 24,OOO -F$30,500 PLus VAT NonResidenceof Fiji F$25,OOO -F$31,250 We wish to advise that the Ministry is willing toaccommodate referrals from all GeneralPrac oners, Hospitals, HealthCentersand Insurancecompanies, etc. For further enquiries please contact the following personnel during the official hours fromMondayto Thursday 8.00amto4.30pm, Friday 8.00am to 4.00pm: 1. MrsManjula W. Lal–Ministry of Health,Ph.no.9805025, 3306177 (Ext340165) 2. GopalAyyar (NZ)Ph.no. 022 6873291 Dinem House 88 AmyStreet,Toorak Box2223, Govt.Building SuvaFiji Phone: (679) 330617 Fax: :(607 3306 163
10 BUSINESSLINK February 15, 2016 Not all charities are honourable and honest Dave Ananth davetaxnz@gmail.com This article is not intended to discuss legal issues regarding charities but to point out some facts. I have, in the past, expressed concern over the lack of proper advice in running of charities. Accumulation of wealth is not the purpose of a charitable organisations but I would not dismiss that notion where some charities are concerned. New Zealanders are generous by nature and give sizable sums to charities and non-profit organisations promoting various causes. Tax exemptions and privileges are given to such organisations to encourage them to support the needy. Unfortunately, not all charities are operated in a transparent manner. Complex Statute The law in this area can be complex and daunting even for a practitioner. New Zealand has defined charitable purposes in Section 5 (1) of the Charities Act 2005, which says, “In this Act, unless the context otherwise requires, charitable purpose includes every charitable purpose, whether it relates to the relief of poverty, the advancement of education or religion, or any other matter beneficial to the community.” The Charities Act was amended in 2012 to include amateur sport. Charity and taxes can be complex. It is actually a tax payer-funded subsidy. According to the Charities Services(formerly known as the Charities Commission), there are over 26,000 registered charities in New Zealand, with a collective income of almost $16 billion in the 2013 tax year, with $218.3 million paid as tax credits. Inland Revenue Department (IRD) de-registered 3902 charities in 2012 and 479 since February 2015 for various reasons. Where is money given to charities going? Tax exemption Charities do not pay income tax on their exempt income provided that they do not receive any non-exempt income. They would however be required to file their Annual returns with the Department of Internal Affairs. Income earned by charities and distributed in New Zealand is tax free. If you employ staff, whether it is a priest or a caretaker,you must remit PAYE. If you are a registered Charity, then you are entitled to a Resident Withholding Tax (RWT) Certificate of exemption so that you do not need to pay tax on your interest on savings. You must show this to the interest payer(usually a Bank)to avoid them deducting tax and remitting to IRD. Some charities are exempt from paying Fringe Benefit Tax ( ), but there are conditions to be met. It is essential that your tax agent or professional advisers guide you correctly and are familiar with tax issues involving charities. Output Tax If you are carrying out a taxable activity and your turnover is more than $60,000 in a 12-month period, you must register for GST. If you are hiring a hall for a wedding or a function that is prima facie a taxable activity and if registered for GST, you must charge output tax. In return, you can claim your inputs. A common error amongst charities is to determine income which is taxable and supplies which attract GST. There is certain ‘income,’such as donations that have no GST impact as opposed to a trading activity or a supply. In such a case, there will be a GST impact even if you are a charitable organisation. There are of course concessions and special rules for claiming input tax for non profit bodies. It is important that you get the correct advice. Accountability Issue Charities have limited statutorily imposed accountability in respect of the board of trustees, unlike directors of companies. This should be addressed in the near future to ensure that the principles enunciated by the Charities Services are upheld. Not all charities serve the community. I read an article recently in New Zealand Herald according to which a charitable hospital gave only 0.2% of its income for charitable causes. The focus must not be the accumulation of wealth but its purposeful distribution for the benefit of the people. Abuse and Audits Tax exemptions are approved and given for a purpose hence should not be abused. No person with some control over the Charity should be able to divert any amount derived from the Charity for their own benefit or any pecuniary benefit of any individual. If potential conflicts are discovered or dubious transactions exist, advisors must advise Charities to refrain from such practices. You can subject yourself to investigations under various civil and criminal offences. It is morally and ethically wrong to be involved in such practices. Tax exemption will not apply if a person has obtained any benefit from the exempt income. IRD conducts audits from time to time. It is essential that tax agents and professional advisors are kept informed of all correspondence when this happens. Record keeping is essential whether you pay your tax or not. These documents (hard or electronic copies) become evidence of your charity. The onus is on you to show that you have complied. We wish to see a Charity Tribunal set up for Charities to air their grievances. Legal China offers the Great Wall of Money Following a record year of sales volume, low vacancy rates and yields I see little reason for that trend to change in 2016. Two key features will underpin the confidence and demand in the commercial property market for the next 12 months: historically low interest rates and population expansion. Population growth was a key tenet of my predictions for last year (2015). It will remain a driving force behind major commercial developments in 2016. New Zealand’s net migration gains show no sign of letting up, and population – specifically in Auckland - will provide the impetus for more major commercial developments. Low yields Record low yields will also feature again in 2016, purely because of demand. There is a lot more money available for investment than there are properties to be invested. The record low CBD office and industrial vacancy rates in Auckland will continue as an acute barometer of this trend. action, as the recourse now, is expensive and time-consuming. The High Court case concerning the National Council of Women of New Zealand is a good example (The National Council of Women of New Zealand Incorporated v Charities Registration Board 2014 NZHC 3200). It is also advisable that the Charity Services be expanded to monitor the 26,000 Charities. The tax payer has a right to know how their money is spent. The residential market is also placing greater focus on density to alleviate demand and price pressures, and this will increase the attractiveness of quality apartment projects such as Alexandra Park. As predicted last year, New Zealand’s commercial property market is still seeing the beginnings of the ‘great wall of money’ on offer from China. The sheer weight of capital available from Asian investors who want to find a home for it in international markets is massive, and New Zealand is an extremely attractive location. I predict that activity within the retail property sector will also be very notable in 2016, particularly coming off the back of significant momentum late last year (2015) where Colliers’ Capital Markets team transacted a record $1 million in sales in less than six months, anchored in the main by Westfield shopping centres ($549 million) and Countdown supermarket ($287 million) sales. Tourism New Dairy I also see a strong case for ‘tourism becoming the new dairy.’ Dave Ananth is an experienced tax barrister practicing in Auckland. He was an IRD Prosecutor based in Manukau before establishing his private practice. He is now in Malaysia advising on GST compliance on a two-year contract. He is a regular speaker at various conferences and seminars. Email:davetaxnz@gmail.com; www.davetaxnz.nz Mark Synnott Chief Executive of Colliers International New Zealand. New Zealand is currently enjoying a major tourism boom, with more than three million international visitors visiting our shores for the first time in a one- year period. This represents an 8.1% increase on the previous twelve months, and our hotel property market is reflecting that. Colliers Hotel division is witnessing the first stages of the next transaction cycle with more than $290 million in sales recorded in 2015, up a staggering 500% over the same period in 2014.
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