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Latest Taxation Headlines
Employers And Payroll Providers Ready For Tax Changes
Fri, 26 Jul 2024 11:28:48 +1200 | New Zealand Government
New Zealand’s payroll providers have successfully prepared to ensure 3.5 million individuals will, from Wednesday next week, be able to keep more of what they earn each pay, says Finance Minister Nicola Willis and Revenue Minister Simon Watts.More >>
Kiwi Small Businesses Record Largest Decline In Sales Since May 2020
Thu, 25 Jul 2024 09:15:34 +1200 | Xero
Xero, the global small business platform, today released its Xero Small Business Insights data for the June quarter, which revealed small business sales in Aotearoa dropped, while jobs and wage growth remained strong.More >>
Changes Needed To Make New Zealand The Place Where Talent Wants To Live, Says Report
Thu, 25 Jul 2024 08:54:43 +1200 | NZIER
In what is being called a silent epidemic, New Zealand is inadvertently discouraging expat Kiwis, as well as high-contributing and investment-ready migrants from staying here, a new report by the New Zealand Institute of Economic Research (NZIER) shows.More >>
Enhanced Tool To Help With Property Tax Rules
Wed, 24 Jul 2024 14:04:14 +1200 | Inland Revenue
The bright-line test changed on 1 July 2024. If a property is sold on or after 1 July 2024, the bright-line test looks at whether the bright-line end date is within 2 years of the bright-line start date.More >>
Half A Million People Use Tax Calculator
Wed, 24 Jul 2024 10:25:36 +1200 | New Zealand Government
With a week to go before hard-working New Zealanders see personal income tax relief for the first time in fourteen years, 513,000 people have used the Budget tax calculator to see how much they will benefit, says Finance Minister Nicola Willis.More >>
Luxon Hands Open Cheque To Oil Companies
Mon, 22 Jul 2024 12:54:34 +1200 | 350 Aotearoa
Aotearoa is revealing coalition govt is removing oil decommissioning safeguards, risking more $500m bills for the taxpayer. In the minutes from a cabinet paper, the govt has agreed to ‘remove the requirement to pay an amount and/or provide financial ...More >>
LIC Ends Year With Lower Profit Following Challenging Conditions
Fri, 19 Jul 2024 12:03:08 +1200 | Livestock Improvement Corporation
Livestock Improvement Corporation has continued to invest in innovations for its farmer shareholders, ending the 2023/24 financial year with no debt and a modest profit and dividend for shareholders.More >>
Tax Evasion Sends Auckland Couple To Prison
Thu, 18 Jul 2024 17:20:30 +1200 | Inland Revenue Department
Judge Andrée Wiltens found that the overall evasion of income tax and GST amounted to about $750,000, with a further $80,000 in unaccounted for PAYE. After some PAYE payments were made, the total loss was about $800,000.More >>
The Tax Man Is Coming For You
Thu, 18 Jul 2024 15:34:10 +1200 | RNZ
Alexia Russell , Producer of The Detail | From The Detail The tax department is warning businesses to get their houses in order - it's cracking down with the power of the millions it got in the budget. The tax department got $29 million in the budget ...More >>
Public Health At Risk, Tax Cut Labelled Irresponsible
Thu, 18 Jul 2024 12:59:29 +1200 | Asthma and Respiratory Foundation
The tax reduction in addition to axing Smokefree 2025 undermines the efforts that the Foundation - and others - have gone to protect future generations from the harms of tobacco, Professor Hancox says.More >>
Additional Savings Must Not Wait Until Budget 2025
Thu, 18 Jul 2024 12:48:30 +1200 | Taxpayers' Union
Waiting until next year’s budget simply forces the taxpayer to stump up for billions of dollars in wasteful spending on projects that are already destined to be wound up.More >>
‘Too Painful’: We Could Have Done Better On Lowering Rates – Councillor
Wed, 17 Jul 2024 19:46:55 +1200 | Moana Ellis - Local Democracy Reporter
Rates for individual properties for the 2024/25 year are available now on the Rating Information Database on council website and rates notices will be sent out from Thursday, 1 August.More >>
Innovate, Don't Imitate: Rethinking NZ's Economic Strategy
Tue, 16 Jul 2024 10:25:39 +1200 | Koura Wealth
Local headlines are constant harbingers of economic bad news: from productivity declines to persistent inflation and losing Kiwis to Australia where they’re paid more and their dollar goes further.More >>
Wellington Land Rates Review Should Focus On Bringing Rates Down
Tue, 16 Jul 2024 10:12:17 +1200 | New Zealand Taxpayers' Union
“Rather than trying to chuck $32 million at its multinational owners of the Reading Cinema to get them to do something with a massive CBD plot, land value-based rates would encourage development. But Wellington’s rates problems run much deeper than ...More >>
PM Luxon Needs To Talk Tax With Estonian Prime Minister
Mon, 15 Jul 2024 15:26:19 +1200 | Taxpayers' Union
World Bank statistics reveal that between 1995 and 2020, Estonia’s economic growth was 160.59%. Over the same period, New Zealand’s economic growth was significantly less at 95.85%.More >>
Former Heads Of State Call On G20 Leaders To Back Global Deal To Tax The Ultra-rich
Mon, 15 Jul 2024 14:09:39 +1200 | Oxfam Aotearoa
Ensuring the ultra-rich pay their fair share "would reduce inequality and raise trillions of dollars necessary for investments in industrial policy and a just transition." More >>
Time Of Use Pricing Schemes Are A Step Closer In Auckland: What You Need To Know
Fri, 12 Jul 2024 18:38:21 +1200 | RNZ
Explainer - The schemes aim to get traffic off roads at peak times while raising money for transport infrastructure. Here's how they could work in Auckland. More >>
Inland Revenue Funding Used To Support Compliance
Fri, 12 Jul 2024 10:20:23 +1200 | Inland Revenue
Inland Revenue (IR) has outlined how it will be using the $29 million allocated for compliance in this year’s Budget, targeting those people who - due to challenging circumstances or a deliberate decision - have not met their tax obligations.More >>
Government Provides Support To Tackle Tax Debt And Compliance
Fri, 12 Jul 2024 10:15:53 +1200 | New Zealand Government
New compliance funding in Budget 2024 will ensure Inland Revenue is better equipped to catch individuals who are evading their tax obligations, Revenue Minister Simon Watts says.More >>
Children’s Commission, Ease Up On The Re-branding
Tue, 9 Jul 2024 17:51:11 +1200 | Taxpayers' Union
The Taxpayers’ Union can reveal that the Children’s and Young People Commission has spent $61,474 on refreshing their brand identity when the structure moved from a Commissioner to a Commission with a board.More >>
