2009 December

Tax Revenue Down by $1.4 Billion

Tax revenues in New Zealand are continues to be below forecast, although the government believes that there will be some improvement.

IRD to Share More Taxpayer Info

The IRD and Ministry of Social Development are improving their info sharing capabilities in order to cut down the occurrence of benefit fraud in New Zealand.

Maori Party Wants Higher Tobacco Taxes

The Maori Party is campaigning for the government to announce even further increases to tobacco taxes in the Budget announcement later this month.

Governments Stills Aims for Surplus in 2014

Despite the recent reduction in the forecast for the New Zealand budget, John Key has repeated the government’s goal of reaching a surplus within the next three years.

Reserve Bank Maintains 2.5% OCR

Due to the country’s positive economic performance and acceptable levels of inflation, the Official Cash Rate in New Zealand will not be changed this month.

Dec 4, 20090

High Wealth Individuals Unit Nets $81 Million

Categories: New Zealand Taxation

The actions of the New Zealand Inland Revenue Department’s (IRD) High Wealth Individuals Unit (HWIU) recovered an additional NZ$81 million in tax revenue, for the year ending June 30th, 2009.

Initiated in 2003, the HWIU investigates those who own or are in the control of wealth in excess of NZ$50 million. Currently an estimated 250 such individuals in New Zealand.

The actions of the New Zealand Inland Revenue Department's (IRD) High Wealth Individuals Unit (HWIU) recovered an additional NZ$81 million in tax revenue, for the year ending June 30th, 2009. Initiated in 2003, the HWIU investigates those who own or are in the control of wealth in excess of NZ$50 million. Currently an estimated 250 such individuals in New Zealand. During the year ending June 30th, 2009, the HWIU selected 161 individuals on who to carry out investigations. These resulted in NZ$81 million ... Read More

Dec 2, 20090

Government Groups Calling for Tax Overhaul

Categories: New Zealand Finance, New Zealand Taxation

Within days of the 2025 Taskforce releasing their report to the New Zealand Government and the Tax Working Group’s conference, intense debate has arisen around the changes that need to be made in New Zealand’s taxation system, bringing into question set goals and the methods behind them. Amid a global financial crisis and worldwide climate [...]

Within days of the 2025 Taskforce releasing their report to the New Zealand Government and the Tax Working Group's conference, intense debate has arisen around the changes that need to be made in New Zealand's taxation system, bringing into question set goals and the methods behind them. Amid a global financial crisis and worldwide climate of tax changes, the New Zealand Government has created two research groups with the common goal of improving the country's financial standing. The 2025 Taskforce was charged with ... Read More

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