Category New Zealand Finance

Tourist Numbers Up in July

September 14, 2016 New Zealand Finance

The number of guest nights seen in New Zealand in July has risen compared to last year, but fallen if the number is seasonally adjusted.

New information released earlier this week by Statistics New Zealand indicates that holiday makers in New Zealand are staying for longer periods.

Over the course of July 2016, the number of guest nights among international visitors rose by 15.8 percent compared to the same month in 2015.

Similarly, the number of domestic guest nights over the course of July 2016 rose by 2.0 percent compared to the same month in the previous year.

The increase in tourist numbers was felt more keenly in the North Island where the total guest nights increased by 7.4 percent, while the rise was only 6.0 percent in the South Island.

However, despite the increases, the seas...

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NZ Auditors to be Recognised in EU

September 1, 2016 International FinanceNew Zealand Finance

taxes in New ZealandNew Zealand companies will find it easier to meet reporting requirements in the EU, as their local auditors will soon be recognized in Europe.

In a statement issued on August 30th the Minister of Commerce and Consumer Affairs Paul Goldsmith announced that the European Union has taken the decision that New Zealand auditors shall be recognized in the EU.

Under the scope of the new recognition any New Zealand registered company which is listing or listed in the EU “…can continue to have their statements audited in New Zealand since they will be treated the same as if they were audited in Europe.”

Explaining the significance of the change, Paul Goldsmith said “…for investors both in New Zealand and overseas the recognition of equivalence in the New Zealand systems means they can have co...

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Greens Slam National Over Property

July 29, 2016 New Zealand Finance

The Green Party is suggesting that new data is showing that the current government is more interested in supporting housing speculators as opposed to New Zealanders wanting to buy their first home.

According to the Green party of New Zealand, the current government has allowed the country to become a “property speculators’ paradise”.

In a press release issued on July 26th the green party said that data from the Reserve Bank has shown that in June 2016 investors were issued NZD 2.56 billion on loans, while first-time home buyers were issued loans worth only NZD 738 million.

It was also shown that a total of 7 000 loans were issued to investors, while only 1 970 were issued to first-time homebuyers.

The Green party further went on to say that “National is clearly more interested in h...

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More Visas Granted for Low-Skill Jobs

July 5, 2016 New Zealand Finance

Come Fly with MeNew data suggests that since 2010 more migrants have been approved to work in low-skilled jobs in New Zealand, while the proportion of high-skilled workers being approved has dropped.

Recent modelling completed by the New Zealand immigration adviser AMG Immigration indicates that over the last 5 years a greater number of temporary work visas have been granted to low-skilled jobs.

Over the course of the 2015-16 year high-skilled jobs accounted for 68 percent of all Essential Skills visas approved in New Zealand, however, in 2010-11 such jobs made up 73 percent of all approvals.

Further, in 2010, top-tier applications made up the biggest proportion of approved visas, representing approximately 33 percent of all approved Essential Skills visas, but in 2015-16 the proportion had dropped to 23...

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