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

 

BusinessDesk: SkyCity Lifts Minimum Convention Centre Investment To $430M

SkyCity Entertainment Group, the casino operator, has lifted the minimum it will invest in the Auckland International Convention Centre to $430 million and said total costs including land may be $450 million to $470 million. More>>

Statistics: Drop In Dairy Prices Leads Fall In Exports

Total goods exports fell $240 million (5.5 percent) to $4.2 billion in April 2015 compared with April 2014, Statistics New Zealand said today. More>>

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>

BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>


Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>

BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Housing: More House Price Gains Expected

House price expectations remain high, with a net 56% of respondents expecting house prices will increase. Fears of higher interest rates are fading, consistent with the RBNZ’s signals this year. Affordability and a lack of houses for ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news