Excessive Government debts and credit card borrowing have led to New Zealand’s credit card rating being downgrade from AA+ to AA. In a move that did not seem to surprise many, New Zealand’s credit rating was been downgraded from AA+ to AA on September 30th by Fitch Ratings. The international ratings agency pointed to the [...]

Excessive Government debts and credit card borrowing have led to New Zealand’s credit card rating being downgrade from AA+ to AA. In a move that did not seem to surprise many, New Zealand’s credit rating was been downgraded from AA+ to AA on September 30th by Fitch Ratings. The international ratings agency pointed to the country’s staggering external debt levels as the primary reason behind the downgrade. New Zealand’s net external debts currently stand at 83 percent of the GDP. According to Fitch ... Read More

Australian winemakers are calling for a revision of tax measures which they say are allowing the market to be flooded with product, and reducing profits in Australia and New Zealand. Two Australian winemakers, Premium Wine Brands and Treasury Wine Estates, are calling for a removal of the currently active Wine Equalization Tax (WET), which they [...]

Australian winemakers are calling for a revision of tax measures which they say are allowing the market to be flooded with product, and reducing profits in Australia and New Zealand. Two Australian winemakers, Premium Wine Brands and Treasury Wine Estates, are calling for a removal of the currently active Wine Equalization Tax (WET), which they claim is unjustly supporting economically unsustainable wine producers in Australia and New Zealand. The WET system is a value based tax which is charged on all Australian and ... Read More

Tax experts in New Zealand are calling out the Inladn Revenue Department for taking unreasonable new stances towards salary payments and tax evasion. Over the weekend Jo Doolan, a tax partner at Ernst & Young New Zealand, commented on the recent court ruling in the “Penny & Hooper” tax case, saying that the Inland Revenue [...]

Tax experts in New Zealand are calling out the Inladn Revenue Department for taking unreasonable new stances towards salary payments and tax evasion. Over the weekend Jo Doolan, a tax partner at Ernst & Young New Zealand, commented on the recent court ruling in the "Penny & Hooper" tax case, saying that the Inland Revenue Department (IRD) is now using the case as justification for further tax measures on business owners. According to Jo Doolan the Inland revenue Department is proposing that, ... Read More

The Labour Party is reaffirming its tax policy stance, saying that the country needs to make bold moves in setting its tax policies, such as the proposed capital gains tax. In a presentation in Wanganui on September 22nd the Labour Finance spokesperson David Cunliffe spoke about the party’s intended tax policies. David Cunliffe conceded that [...]

The Labour Party is reaffirming its tax policy stance, saying that the country needs to make bold moves in setting its tax policies, such as the proposed capital gains tax. In a presentation in Wanganui on September 22nd the Labour Finance spokesperson David Cunliffe spoke about the party’s intended tax policies. David Cunliffe conceded that new taxes were not typically popular with voters, but the Party’s proposals had so far been met with a better reception than anticipated. David Cunliffe reaffirmed New Zealand’s ... Read More