Yearly Archives 2016
November 24, 2016 New Zealand Taxation
On November 22nd the Minister of Revenue Michael Woodhouse announced that special measures have been enacted to ease the filing burdens of taxpayers impacted by the earthquake in Kaikoura.
The Minister explained that following an Order in Council the IRD will waive the Use-of-Money-Interest on any late payments, which are a result of the earthquake.
The waiver is currently scheduled to last until January 31st, although it is not impossible that the deadline may be extended further if such a step is deemed necessary.
The Minister also noted that the Inland Revenue has opted to drop its own late-filling and late-payment penalties for anyone affected by the recent quak...Read More
November 16, 2016 New Zealand Taxation
On November 16th the Revenue Minister Michael Woodhouse and Small Business Minister Craig Foss announced that the results of new survey have shown that small businesses in New Zealand are spending a decreasing amount of time each year on their tax filing obligations.
On average businesses in New Zealand spend 27 hours each year on their tax compliance.
The current time spent on compliance is 25 percent less than the amount of time which was spent in 2013.
The results of the survey showed that business owners found that recording information was the most time consuming aspect of their tax obligations.
GST was found to be the most time-consuming tax type, requiring an averag...Read More
September 28, 2016 New Zealand Finance
In a statement issued on September 28th the Minister of Immigration Michael Woodhouse announced that a partner has been found to help the government implement the upcoming Global Impact Visa in New Zealand.
The new Global Impact Visa was first announced in April this year and is intended to help attract more young entrepreneurs to New Zealand.
It was deemed that the current Entrepreneur Visa system is not suitable for attracting younger entrepreneurs with innovative ideas, as the regulations are stacked in favour of established businesses and business operators with long-term experience and sizeable financial backing.
The potential visa applicants will be drawn in and ...Read More
September 16, 2016 New Zealand Finance
On September 15th New Zealand saw the first conviction handed out for the charge of human trafficking.
A Papatoetoe man, Foraz Ali, was convicted of trafficking 15 Fijian nationals to New Zealand to subject them to work for minimal pay and under poor conditions.
Each of the victims was told by Foraz Ali that for a fee of NZD 4 000 they would receive employment in New Zealand paying as much as NZD 900 per week.
However, upon arrival into the country, the workers found that they would ultimately be paid only NZD 100 per week.
Further, the workers were not granted any valid work visas, and, instead, were granted 1 month visitor visas.
Foraz Ali is scheduled to be sentenced in October.
In New Zealand the charge ...Read More