Monthly Archives May 2014

Government Offers Graduate and Intern Funding

May 27, 2014 New Zealand Finance

graduatesThe New Zealand government is now offering funding for high-tech firms to take on young students and recent graduates.

On May 26th the government issued a new statement inviting businesses engaged in research and development to apply for funding to take on recent graduates into permanent positions, or to take on current students for internship positions.

Currently funding is available for accepted businesses to take on 70 Masters of PHD graduates, and 200 Bachelors, Honours and postgraduate Diploma students from the fields of business, design, engineering and science.

The grants are broken down into two catagories, R&D Experience, which will grant a business up to NZD 16 per hour for 400 hours to hire a current student over the summer period, and R&D Career, which will pay up to NZD 30 0...

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Too Much Funding Goes to Tourist Sector

May 21, 2014 New Zealand Taxation

New Zealanders are missing out on vital services, as the government spends millions on funding tourism enterprises, according to an activist group.

On May 21st the Taxpayers’ Union issued a new statement claiming that the government has gone too far in providing investment into businesses operating in the national tourism industry.

The statement from the Taxpayers’ Union comes as a response to an announcement made by the government earlier the same day that approximately NZD 26.8 million will be provided to six separate tourism businesses, in an effort to further expand the industry.

The Taxpayers’ Union claims that the investment come at the expense of “hospitals, schools, and kiwi taxpayers” who will now miss out “…because politicians want to hand money to a private company to rent...

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IRD Gets New Funding for Anti-Evasion Push

May 13, 2014 New Zealand Taxation

The IRD is looking to take on a significant number of new specialist staff to help recover previously unpaid taxes.

On May 12th the government announced that the upcoming budget would allocate approximately NZD 132 million to be spent over the next five years to help improve tax compliance and to chase down tax evaders.

Approximately NZD 48.6 million of the funds will be used to help the IRD to hire new staff and specialist specifically charged with cracking down on taxpayers who neglect to file tax returns, or those attempting to evade taxes.

The remainder of the funds is to be used by the IRD to write off taxes which are unlikely to be recovered through the IRD’s efforts.

It is estimated that the extra staff will help the IRD to recover approximately NZD 297...

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Beneficiaries Offered Money to Move to Christchurch

May 6, 2014 New Zealand Finance

Payment for ChristchurchBeneficiaries may soon be offered a payment of NZD 3 000 to move to a job in the Canterbury region.

The government will set aside NZD 3.5 million to be used as a monetary incentive for beneficiaries to move to the Canterbury region, according to a new statement issued on May 6th by Minister of Social Development Paula Bennet.

The Minister said that the government is setting the money aside in the 2014/15 budget, to provide a once-off payment of NZD 3 000 to as many as 1 000 current beneficiaries who have a job offer in the region and are willing to move to take on the role.

The payment is conditional on the job lasting for more than 91 days at least 30 hours per week.

As further incentive to take up and keep jobs in the Christchurch area, the payment will not count towards any means o...

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