MSI ANZ Quarterly – February 2007
The Quarterly Newsletter of the MSI ANZ Group

	From the Editor In January MSI’s London based secretariat launched a new website that brings up to date what the global MSI network of independent firms’ offers to clients in Australia, New Zealand and around the world. The network now has more than 250 firms in more than 100 countries. In real terms this means that your local MSI firm of accountants or lawyers, be they in Christchurch, Adelaide, Perth, Brisbane, Sydney, Melbourne or Auckland have the confidence and ability to refer you to top quality professionals in the almost any key commercial or financial centre in any part of the world. This seems to become more and more important for more and more clients of member firms in New Zealand and Australia. Twenty years ago the number of businesses doing business internationally from this part of the world was significant but not large. In 2007, a vastly increased number of businesses large and small are looking at and operating in new markets – and with this comes a need for practical advice on legal, tax and accounting issues in any number of countries.  MSI exists with this accelerating change in mind. As you consider your own plans for the coming 2007/2008 financial year you can be sure that your local MSI member firm has its own strategy in place to deal effectively and practically with your international business requirements. To find out more about the world of MSI, visit the network’s new website at www.msi-network.com. Finally, we would like to take this opportunity to inform all our clients of the twice yearly meeting of the Australian and New Zealand MSI members which takes place this April in Auckland. This is a valuable forum for all MSI ANZ members to develop further the already strong relationships that exist and learn more about each others services and specializations. The more we know and understand about each firm in the group, the better we are able to refer clients to one another with the highest degree of confidence. Rod Commins Patterson Houen & Commins, Sydney February, 2007
	27% of Australian & NZ Companies Spent More on Christmas Functions in 2006 The MSI Legal & Accounting Network frequently conducts research into the activities of business operators, in order to determine key trends and identify shifts in business activity throughout the year. In December 2006 the MSI ANZ Group randomly selected 420 Australian and New Zealand businesses with the aim to produce a snapshot view of business' spending on Christmas parties in 2006, as a barometer of economic health. Click here for full story
	New Partners at MSI Ragg Weir in Melbourne The partners of MSI Ragg Weir, the MSI ANZ’ Group’s Melbourne based accounting member firm, have recently admitted Anne Rollason and Leah Smallman as Partners in their firm. This brings their total number of partners to eight: Click here for full story
	Insolvency Law Changed New Zealand Commerce Minister Lianne Dalziel says failing companies will have more flexible options under changes to insolvency law passed recently by Parliament. The new Bill replaces the Insolvency Act 1967 and allows for a voluntary administration regime to be adopted by companies in financial distress, as a potential alternative to liquidation. Click here for full story
	Hire Duty and Marketable Securities Transfer Duty Abolished in Queensland The Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations (IGA), agreed to by the Australian Government and all state and territory governments in 1999, required the abolition and review of a number of state taxes. As a result of the IGA review, Queensland introduced legislation to execute these changes effectively evidencing a shift by Queensland towards further reliance on the Federal Government for funding state activities, and away from an independent financial stance. Click here for full story
	Property Boom = Land Tax windfall for West Australian government The Western Australian State Treasury now expects to receive $390 million from land tax earnings in the current financial year. This record land tax windfall can be attributed to an extra 24,000 property owners becoming subject to paying land tax expense, due to the ongoing rise in property values. This equates to $50 million more than the WA Treasury’s original budget forecast, an increase of 25 per cent on the previous year. Click here for full story
	NZ Government Makes a Big Difference for Small Business The New Zealand government is already acting on most of the latest recommendations of the Small Business Advisory Group, Small Business Minister Lianne Dalziel says. Lianne Dalziel today released the government’s response to the Small Business Advisory Group’s second report, which contains 12 recommendations to assist small and medium enterprises (SMEs). Click here for full story
	MSI - International News MSI Legal & Accounting Network was formed in response to the growing need for cross-border cooperation between professional service firms. With over 250 independent legal and accounting firms in 100 countries throughout the Americas, Asia-Pacific and Europe, Middle East and Africa - MSI has become a leading global multidisciplinary network. This enables clients of all MSI firms to effectively ‘do business’ on a global basis. As a regular news item, we will be including news from around the globe informing you of developments with other MSI firms. Click here for full story
	MSI ANZ Group Members – 13 offices in 7 cities As a part of MSI Legal & Accounting Network Worldwide, the MSI ANZ Group has member firms located in key cities around New Zealand and Australia. For contact information on each firm, an introduction to each and a round-up of specialisations within each practice, please click on this link.