Category International Finance

New Zealand Taxes Draw Australian Firms

May 31, 2011 International FinanceNew Zealand Taxation

New Zealand corporate taxesNew Zealand’s business environment and tax policies are encouraging a greater number of international companies to shift their operations into the country.

While making a media statement on May 31st, ManufacturingNZ executive director Catherine Beard said that New Zealand’s 28 percent corporate tax rate and comparatively low wage rates is an strong incentive for Australian manufacturers to shift at least part of their production to New Zealand based facilities. Her comments came in response to an announcement made on May 27th by the global food manufacturer Heinz that it will move part of its sauce making operations to its subsidiary Watties in Hastings, within the next 12 months.

She said that Heinz’s transfer to New Zealand would not directly result in any more jobs being created,...

Read More

Carbon Taxes Force IT Changes

February 28, 2011 International FinanceNew Zealand Taxation

The Planet Data CenterData centers and IT operations across Australia and New Zealand will soon need to face a heavy overhaul and upgrade, in order to address the possibility of a new carbon tax.

At the Kickstart Forum held over the weekend in Queensland, representatives of IT companies in Australia and New Zealand indicated that the possibility of carbon taxes is causing a reevaluation of the operation and planning of datacenter.

Carbon levies have been debated heavily in New Zealand and Australia throughout 2010, leading analysts to predict that some form of emissions taxation will be implemented by both countries’ governments in 2011 or 2012. It is estimated that data centers across the world currently account for 1.5 percent of all emissions, a level on par with the airline industry...

Read More

New Zealand Companies Office Tightens Compliance Rules

February 24, 2011 International FinanceNew Zealand Finance

Maleís hand writing in the documentThe New Zealand Companies Office has recently tightened compliance controls on the formation and registration of New Zealand companies with overseas directors and shareholders, or companies suspected of being nominee companies for overseas entities.

The New Zealand Companies Office has recently stepped up its documentation requirements for registration of New Zealand companies with overseas directors and shareholders. Some newly registered companies with non-resident directors and shareholders have recently received letters from the Companies Office, instructing them to provide extra documentation confirming the identities of the directors and shareholders...

Read More

NZ – Australia Sign New Investment Protocol

February 17, 2011 International FinanceNew Zealand Finance

MoneyAustralia and New Zealand have cut red-tape surrounding business conducted between the two countries, raising the levels which can be invested without requiring approval.

On February 16th the Australian Prime Minister Julia Gillard and the New Zealand Prime Minister John Key signed a new Investment Protocol between the two countries, which updates the bilateral Closer Economic Relations (CER) trade agreement held by Australia and New Zealand. The newly signed agreement will align the CER with contemporary free trade agreements, and will cut several investment restrictions between the countries.

The protocol raises the amount that a New Zealander can invest across the Tasman before requiring a screening and approval by the Australia’s Foreign Investment Review Board (FIRB)...

Read More