Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Business needs reflected in KiwiSaver Bill

Monday, August 21st, 2006

Business needs reflected in KiwiSaver Bill

Though KiwiSaver is far from the best idea we have seen, Parliament's Select Committee has done a pretty good job in covering off business concerns over complying with it, says David Lowe, Employment Services Manager for EMA (Northern).

The Finance and Expenditure Select Committee is to be congratulated for listening to business on it, he said.

"The original KiwiSaver Bill contained a mountain of compliance costs but the Select Committee has pared them back," Mr Lowe said.

"Many of the excessive compliance costs resulted from IRD's administration of KiwiSaver which was never a good enough reason for heaping on the compliance costs, but the Select Committee has recognized that.

"We foresaw there was always going to be some compliance costs for employers.

"But business and employers were becoming accustomed to Government bulldozing legislation through with no regard to how businesses are run, so this Bill represents some relief."


© Scoop Media

Business Headlines | Sci-Tech Headlines


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news