Tax bill completes property investment rule changes

Press Release – New Zealand Government

A tax bill introduced today proposes a new withholding tax on sales of residential property by people who live overseas and go on to sell the property within two years of purchase. The proposed measure is the third part of the Governments investment … Read more »

Student Loan info to be shared with Australia

Press Release – New Zealand Government

A tax bill introduced to Parliament today will allow information on student loan borrowers living in Australia to be shared between Inland Revenue and the Australian Taxation Office, ensuring defaulters pay their outstanding loan balances. Tertiary … Read more »

Government Announcements Create New GST Loopholes

Press Release – Retail NZ

Retail NZ says that the introduction today of a government bill that applies GST to offshore suppliers of services and intangibles creates new loopholes in collecting GST and is a wasted opportunity to level the playing field for all Kiwi retailers. … Read more »

Nats still dragging feet on GST after 7 years

Press Release – New Zealand Labour Party

Nats still dragging feet on GST after 7 years National is still dragging its feet on applying GST to products bought from overseas and not giving small business a fair go, despite being in government for seven years, says Labours Revenue spokesperson … Read more »

Tax net tightens on offshore purchases in govt GST grab

Article – BusinessDesk

Nov. 16 (BusinessDesk) – The government has introduced a bill to tax online services purchased overseas, including videos, music, software and e-books, the first step in efforts to capture an estimated $180 million of goods and services tax lost when … Read more »

GST on online services – levelling the playing field

Press Release – New Zealand Government

Revenue Minister Todd McClay says measures proposed in a tax bill introduced today are about fairness and equity. Read more »

Inland Revenue issues Revenue Alert

Press Release – Inland Revenue Department

Inland Revenue has issued a Revenue Alert, RA 15/01, advising that some employee share purchase schemes may constitute tax avoidance. Revenue Alerts are issued by the Commissioner of Inland Revenue to provide information and guidance about significant … Read more »

Bright-line Bill passes third reading

Press Release – New Zealand Government

Revenue Minister Todd McClay says the passing of the bright-line legislation in Parliament today is an important tool to ensure property speculators pay their fair share of tax. Read more »

Debt collection resumes for education payroll

Press Release – New Zealand Government

The Minister Responsible for Novopay, Steven Joyce, says school staff who were overpaid by Novopay and havent responded to efforts to recover that money will now start being referred to a debt collection agency. Read more »

Deer velvet tax to be lifted

Press Release – Deer Industry NZ

The South Korean Government is planning to remove a special excise tax (SET) on deer velvet, an impost that has been a source of frustration for the deer industry for several decades. Read more »

New tax proposals impact interaction with IRD

Press Release – KPMG

Paul Dunne, Senior Partner at KPMG, says that business and the community should pay close attention to two discussion documents released today. The Government is asking for public feedback on wide-ranging proposals to simplify the NZ tax system. The … Read more »

McClay seeks to water down 130-year-old tax secrecy rules

Article – BusinessDesk

Nov. 11 (BusinessDesk) – Revenue Minister Todd McClay is seeking feedback on plans to water down New Zealand’s 130-year-old tax secrecy provisions as part of a tax administration law review that would give government agencies more access to tax … Read more »

National all talk no action on provisional tax

Press Release – New Zealand Labour Party

After months of discussion documents and talkfests National has kicked for touch on provisional tax, despite it being one of the biggest issues facing small business, says Labours Revenue spokesperson Clayton Cosgrove. Read more »

National’s Tax Return Tax a cash grab

Press Release – New Zealand Labour Party

National is planning to overtax every New Zealander so they can incentivise people to file their tax return, says Labours Revenue spokesperson Clayton Cosgrove. Read more »

IRD transformation project to come in under budget

Article – BusinessDesk

Nov. 11 (BusinessDesk) – The Inland Revenue Department’s new tax service software serving as the backbone to overhaul the tax department’s ageing information technology infrastructure and update its processes to be more customer focused has brought the … Read more »

Making tax simpler: Speech to Trans-Tasman Business Circle

Speech – New Zealand Government

It is my pleasure to be with you here today to unveil the next important stage of how the Government is making tax simpler for business. Read more »

Business Transformation: IRD cooperates with Xero and MYOB

Press Release – New Zealand Government

Revenue Minister Todd McClay says New Zealand and international companies are reaping the benefits of the billion dollar programme to modernise and simplify New Zealands tax administration. Read more »

Business Transformation: Less time, lower cost, more benefit

Press Release – New Zealand Government

11 November 2015 Business Transformation: Less time, lower cost, more benefits Revenue Minister Todd McClay says Inland Revenues Business Transformation programme is likely to take less time, cost less, and deliver more benefits than the original … Read more »

Free Press – November 10th

Column – ACT New Zealand

Good and Bad Economists ACT exists in part to advocate sensible economics from the cross benches. ACT starts from Henry Hazlitts Economics in One Lesson : The bad economist sees only what strikes the eye; the good economist also looks beyond. … Read more »

Time for greater transparency

Press Release – Retail NZ

New research by Covec shows that Kiwi retailers and consumers appear to pay substantially more than their overseas counterparts for credit and debit card transactions, and Retail NZ is calling for greater transparency and oversight of fees set by banks … Read more »

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