Minister Recounts Government Successes

November 21, 2011 New Zealand FinanceNew Zealand Taxation

peter DunneIn a speech given at the NZ Institute of Chartered Accountants (NZICA) 2011 Tax Conference in Auckland on November 11th the New Zealand Minister of Revenue Peter Dunne recounted the tax achievements of the government for the 2011 year.

According to the Minister, over the last 12 months the government, and the entire country, has faced a series of unfortunate events and disasters, such as the Christchurch earthquakes and the Rena oil spill. He claimed that the government had done everything possible to address these issues and take New Zealand through the downturns in the best possible way.

In regards to tax system improvements, the Minister said that in response to the quake the government has extended redundancy tax credits, and removed tax and gift duty on trading stock that businesses donated for earthquake relief. He added that as a result of the government’s actions following the disaster, the Inland Revenue Department now has an extended range of powers to handle times of disaster.

On an economic scale, the government has been actively pursuing means of increasing the commercial competitiveness of New Zealand firms. The Minister explained that the government has expanded its network of Double Taxation Agreements, and improving compliance procedures for taxpayers.

Photo by nznationalparty