Monthly Archives June 2013

Government Needs to Halt Oil Subsidies

June 11, 2013 New Zealand Taxation

ExplorationThe Green party has come forward to say that the New Zealand government should stop supporting oil exploration and should instead support sustainable energy sources.

Late last week the Green Party released a new statement, claiming that the government should stop providing tax subsides to companies operating in the country’s oil and petroleum sectors.

According to the Green Party, the oil and gas industry in New Zealand receives approximately NZD 46.29 million in tax subsidies every year.

The majority of the tax breaks are granted to overseas companies involved in oil exploration activities around New Zealand.

The Green Party says that “…the fossil fuel industry is contributing to runaway climate change, and yet the National Government is transferring public money to facilitate more fossil...

Read More

IRD Looks at GST Changes

June 6, 2013 New Zealand Taxation

10 Kiwi DollarsThe IRD is seeking public opinion on proposed changes aimed at easing compliance burdens on the treatment of non-residents and their GST obligations.

On May 5th the Inland Revenue Department issued a new issues paper on the application of Goods and Service tax (GST) to non-residents, calling for some amendments to be made to current tax rules in order to ease the burdens administration and application of the tax.

Under current regulations, GST is not charged on services performed by New Zealand providers for non-residents who are not in New Zealand at the time that the service was performed.

However, complications can arise if the service is performed for someone who was visiting New Zealand at the time that the service was carried out.

The issues paper also points out that if the non-resi...

Read More