Dec 13, 2011
The Inland Revenue Department has won a new court case, clarifying the tax treatment of Optional Convertible Notes in New Zealand. On December 12th the Inland Revenue Department won a tax avoidance case against the building supply company Alesco, sending the signal that certain structures involving the use of Optional Convertible Notes could be ruled [...]
The Inland Revenue Department has won a new court case, clarifying the tax treatment of Optional Convertible Notes in New Zealand.
On December 12th the Inland Revenue Department won a tax avoidance case against the building supply company Alesco, sending the signal that certain structures involving the use of Optional Convertible Notes could be ruled as means of evading taxes. Alesco, which is a subsidiary of an Australian kitchen supply company, will now be required to pay the Inland revenue Department approximately ... Read More
Dec 7, 2011
The results of a new study shows that New Zealand is lagging behind other OECD countries in income equality. On December 6th the Organization for Economic Cooperation and Development (OECD) released Divided We Stand: Why Inequality Keeps Rising, a report into income inequalities around the world. According to the report, the richest 10 percent of [...]
The results of a new study shows that New Zealand is lagging behind other OECD countries in income equality.
On December 6th the Organization for Economic Cooperation and Development (OECD) released Divided We Stand: Why Inequality Keeps Rising, a report into income inequalities around the world.
According to the report, the richest 10 percent of New Zealanders earn approximately 10 times more than the poorest 10 percent. In the 1980s the ratio was approximately 6 to 1. New Zealand’s current inequality levels put ... Read More
Dec 6, 2011
The government’s latest Financial Statements are showing lower than expected tax revenue results. On December 5th the New Zealand Treasury released the national Monthly Economic Indicators for November 2011 and Tax Outrun Data for October 2011, which summarize the state of the New Zealand economy and the government’s tax take for four months to October [...]
The government’s latest Financial Statements are showing lower than expected tax revenue results.
On December 5th the New Zealand Treasury released the national Monthly Economic Indicators for November 2011 and Tax Outrun Data for October 2011, which summarize the state of the New Zealand economy and the government’s tax take for four months to October 2011.
The total Core Crown tax revenues for the time period were 2.8 percent below the estimates in the 2011 Pre-election Economic and Fiscal Update, at approximately NZD ... Read More
Dec 1, 2011
New Zealand’s acceptance of unreported labor work and “cash jobs” is costing the country dearly, with the underground economy now being valued at more than 12 percent of the country’s Gross Domestic Product. According to recent research conducted by the international tax activist group Tax Justice Network, New Zealand has an underground economy worth approximately [...]
New Zealand’s acceptance of unreported labor work and “cash jobs” is costing the country dearly, with the underground economy now being valued at more than 12 percent of the country’s Gross Domestic Product.
According to recent research conducted by the international tax activist group Tax Justice Network, New Zealand has an underground economy worth approximately NZD 20 billion per year. The extent of this shadow economy ranks New Zealand as the 51st most affected country in the world by the cost of unreported ... Read More
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