Time to recognise the invisible asset
One million Kiwis volunteer each year – yet many boards still don’t quantify or track their contribution. That needs to change.
Rethinking fees and levies: The case for balance and fairness
The IoD’s submission on MBIE’s review highlights pressure on not-for-profit boards and calls for fairer funding of enforcement activity.
The Institute of Directors (IoD) has made a submission on the Ministry of Business, Innovation and Employment’s review of Companies Office fees and levies. The submission highlights two priority areas: the financial pressure on not-for-profit organisations, and the appropriate funding model for enforcement activity.
Many not-for-profits, particularly incorporated societies, are already under financial pressure. New or increased charges – such as the proposed annual return fee and the New Zealand Business Number (NZBN) levy – place additional strain on volunteer-led boards. The IoD recommends further analysis of the NZBN system to understand whether the benefits justify the costs.
The IoD supports greater regulatory enforcement by the Companies Office but questions whether increased enforcement costs should be funded solely through levies. Citing Treasury and Auditor-General guidelines, the IoD believes enforcement provides public good and should therefore be partly government-funded.
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