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

 


Govt seeks feedback on single ID for companies

Feedback sought on plan to give all businesses a single ID for government dealings

March 11 (BusinessDesk) – The government is seeking feedback on the practicalities and privacy issues arising from its move to give all businesses, including charities, partnerships and sole traders, a single identifying number for dealings with state agencies.

All registered New Zealand companies were allocated a so-called New Zealand Business Number (NZBN) last December, with a view to it being in use by a core group of government agencies by 2016.

First to use the NZBN would be the Companies Office and other company-facing parts of the Ministry of Business, Innovation and Employment, the Inland Revenue Department, Statistics New Zealand, the Accident Compensation Corp, the Ministry for Primary Industries, Customs Department, Callaghan Innovation, and New Zealand Trade and Enterprise.

“The vision for the NZBN is that it allows businesses to focus on business, not administration,” says the consultation document issued by Economic Development Minister Steven Joyce at a launch in the Wellington headquarters of cloud accounting software firm Xero.

“It does this by creating new opportunities to make the transfer of information more efficient, secure and accurate.”

Xero founder Rod Drury suggested the NZBN would also help to create trusting links between businesses, which would in turn increase business opportunities by allowing businesses to deal accurately and safely with one another.

Public consultation will last until April 11 and focuses on questions such as how much information should automatically be made public, how much information businesses should be able to choose to put into their publicly searchable NZBN registrations, and coverage of non-company structures, such as sole traders and partnerships.

The government proposes sole traders should have a single, non-transferrable NZBN to reflect that many run more than one type of business activity.

Registered companies, however, would have an NZBN covering each separate corporate entity, which would shift to new owners or be able to be cancelled or suspended if a company ceased to trade. It also proposes making bankrupt NZBN-holders visible to public searches by linking the official insolvency register with Companies Office files.

For the moment, however, even where NZBN’s have been allocated, they will not replace ACC, IRD or any other numbers.

The consultation is intended to ensure the government’s plans are on the right track before putting government agencies through the process of abandoning their existing identification methods which, for many, will be “significant and costly.”

“Having a single business number means that by 2016 businesses will only have to provide government with their information once, which will be automatically shared across government agencies,” said Joyce.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Quotas: MPI Swoop On Suspected Fraudulent Fishing Activity

Ministry for Primary Industries (MPI) compliance officers swooped on a Hawkes Bay fishing enterprise today to secure evidence in an investigation into suspected fraudulent activity... “The investigation involves activity throughout the commercial supply chain – catching, landing, processing and exporting.” More>>

ALSO:

Scoop Business: Fonterra Slashes 2015 Milk Payout, Earnings Tumble 76%

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. More>>

ALSO:

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news