Read the latest stuff.co.nz news article on Petrol Price rise.

Tags: Christchurch, Christchurch Earthquake, NZ Dollar, Petrol Prices, Price Increase

KiwiSaver Changes announced!

Click here to read our May 2011 newsletter

Tags: 2011 Budget kiwisaver changes, earthquake insurance, Investing, Investing wisely, KiwiSaver changes

Read about UK Pension Transfers and KiwiSaver.

Click here to read the November 2010 Newsletter.

Tags: KiwiSaver, KiwiSaver changes, Pension Transfers, Savings plan, UK Pension Transfers

Contact Peter West at Thorner Investment Services Ltd for some no obligation financial advice. Either phone or email Peter at peter@thorner.co.nz

We look forward to hearing from you.

Tags: age concern news, Grey Power news, Investments, Peter West, SCF repayment, Thorner Investment Services

Peter West has arrived and Thorner Investment Services has begun.

Contact Peter if you need any KiwiSaver or investment advice.

Peter@thorner.co.nz

Tags: ASB KiwiSaver, Childrens KiwiSaver, Equitable investment, fidelity KiwiSaver, KiwiSaver, Marac Debenture, OnePath Kiwisaver, Select Investments, UDC debenture

Contact Thorners for advice and a no obligation quote if you need any OnePath services or products.

We look forward to hearing from you.

Tags: OnePath Business Insurance, OnePath Investments, OnePath Kiwisaver, OnePath Life Insurance

Computershare Investor Services are currently completing the audit and transfer of the 35,000 names on the SCF database and debenture repayment is expected mid October 2010.

Contact Thorners if you require reinvestment alternatives and quality advice.

Tags: financial services, investment advice, south canterbury finance repayment, Thorner Investments

Legislation allowing New Zealanders returning home from Australia to bring their retirement savings with them will be introduced to Parliament in about two weeks, Finance Minister Bill English says.

Providing the necessary law changes are made in Australia, it is envisaged the new arrangements will take effect in the second half of next year.

“This is an important step forward for our wider Single Economic Market programme with Australia, particularly in helping the free movement of labour between the two countries,” Mr English says.

“In particular, it will allow New Zealanders and Australians to consolidate their financial affairs in the country in which they live.”

Currently, Kiwis who work in Australia must contribute to an Australian complying superannuation fund. However, the savings are locked into the Australian scheme until the saver reaches retirement age.

Mr English signed an agreement with Australian Treasurer Wayne Swan in July, which paved the way for the new super portability scheme.

It will allow retirement savings from certain Australian superannuation funds to be transferred into New Zealand KiwSaver funds – and vice versa. New Zealanders bringing their savings home must put them into a KiwiSaver fund.

Australia’s Tax Office has estimated that it holds about A$13 billion (NZ$16.6 billion) in “lost accounts” in the Australian superannuation system.

“We expect that much of this money could belong to New Zealanders who have returned home and these new rules will allow these funds to be brought back to New Zealand,” Mr English says.

Participation in the super portability scheme will be voluntary.

The Government will include the changes in the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver and Remedial Matters) Bill, expected to be introduced to Parliament in mid November. Key facts about the Super portability changes

The transfer of retirement savings between the two countries will be exempt from entry and exit taxes. Under current tax laws, transferring savings from Australia to New Zealand may be regarded as a taxable dividend. The proposed legislation will ensure this does not happen.

KiwiSaver members moving from New Zealand to Australia will be able to retain any member tax credits if they transfer to an Australian scheme.

KiwiSaver members will not be able to withdraw money transferred from Australia to help them buy their first home, but they can use the interest earned on those savings for this purpose.

Retirement savings transferred from Australia into a New Zealand KiwiSaver scheme can be withdrawn when members reach the age of 60 as long as they have retired – as set out under Australian scheme rules. KiwiSaver savings transferred to Australian schemes can be withdrawn when members reach 65 – as per New Zealand KiwiSaver rules.

Contact Thorners if you have questions or require advice on this exciting financial development – we service clients NZ wide.

Click here to email Thorners or Call Us on (04) 528 8088

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Tags: Australian super transfers, KiwiSaver changes, moving kiwisaver to australia, Retirement savings, understanding KiwiSaver

At Thorners we have access to a myriad of investment options and we are always guided by the Standard & Poors rating list.

Non bank deposit takers have been in the limelight over recent years as many have got into financial difficulty and only two remain with an AA S&P credit rating which is the equivalent rating held by the the big Trading Banks.

If you are looking to invest wisely, contact us to discuss your options.

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Click here to email Thorners or Call Us on (04) 528 8088

Tags: bank interest rates, Dposit interest rates, Finance Company deposit, funding retirement, hawkes bay insurance broker, Investing

The Finance Minister has announced that the retail deposit guarantee scheme which was due to expire on 12 October 2010 will now be extended through to 31 December 2011.

Some changes to the scheme’s terms and conditions are being made which include:

* Participating institutions fees will be changed to reflect their risk profile.

* Eligible bank deposits will be covered up to a maximum $500,000 per depositor per institution and, eligible non-bank deposits to a maximum $250,000 per depositor per institution. The maximum at the moment is $1 million per depositor per institution.

* Deposit-taking institutions with a credit rating of BB or higher can apply to participate but institutions with a lower credit rating or no credit rating won’t be eligible despite being included in the current scheme.

* Collective investment schemes won’t be eligible for the new scheme.

The Government will introduce legislation to enact the changes prior to the current scheme expiring.

Call Denis if you are considering investing or renewing your existing bank or finance company deposits to get some sound advice.  Either contact Denis by email denis@thorner.co.nz or on 0274 575 190.

Click here to view our disclosure statement.

Thorners – servicing clients New Zealand wide

Winner – Best Trade /Service Business

Upper Hutt Business Excellence Awards 2009

Tags: bank interest rates, bond investments, debenture investments, Finace company deposits, government guaranteed deposits, Hawkes bay financial advice, Investing wisely, Investments, legislation, Retail deposit guarantee scheme