Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More
Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

NZ-Australia double tax agreement under review

8 June 2005 Media Statement

NZ-Australia double tax agreement under review

Australia and New Zealand are reviewing their 1995 Double Tax Agreement to see where it needs updating.

Announcing the review, Revenue Minister Michael Cullen said, given the importance of the DTA to the trans-Tasman business relationship, it was vital that it be regularly updated,” Dr Cullen said.

“Talks held between officials in Wellington last month covered several matters of mutual importance, including whether changes should be made by amending the agreement or as part of a comprehensive re-negotiation.

“That is a decision both governments will be making over coming months, and will in large part depend on whether New Zealand wants to lower withholding rates.

“The New Zealand government is now reviewing its policy on this issue and will be seeking feedback from interested parties.

“As an interim measure it is likely that the current DTA will be updated to deal with administrative issues such as exchange-of-information requirements between the two countries.

“That will be important, for example, for enabling Australia to have access to sufficient information to extend the benefits of its Wine Equalisation Tax Rebate to New Zealand wine producers who export to Australia,” Dr Cullen said.


ENDS

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On The US Opposition To Mortgage Interest Deductibility For Landlords


Should landlords be able to deduct the interest on the loans they take out to bankroll their property speculation? The US Senate Budget Committee and Bloomberg News don't think this is a good idea, for reasons set out below. Regardless, our coalition government has been burning through a ton of political capital by giving landlords a huge $2.9 billion tax break via interest deductibility, while still preaching the need for austerity to the disabled, and to everyone else...
More


 
 

Government: Concerns Conveyed To China Over Cyber Activity
Foreign Minister Winston Peters has confirmed New Zealand’s concerns about cyber activity have been conveyed directly to the Chinese Government. “The Prime Minister and Minister Collins have expressed concerns today about malicious cyber activity... More

ALSO:


Government: GDP Decline Reinforces Government’s Fiscal Plan

Declining GDP for the December quarter reinforces the importance of restoring fiscal discipline to public spending and driving more economic growth, Finance Minister Nicola Willis says... More

ALSO:


Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More


Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.