The legal action between the Inland revenue Department and two Christchurch surgeons is set to continue, after their tax dispute case was accepted to be seen in front of the New Zealand Supreme Court. Ian David Penny and Gary John Hooper’s application to appeal to take their "company structure" tax evasion case to the Supreme Court was approved on August 2nd. The action revolves around alleged tax evasion committed by the medical professionals through a controversial company structure which was claimed, by the ... Read More

New Zealand and the Isle of Man are set to usher in a new level of tax transparency, cooperation and compliance, after two separate tax agreements between the countries came into force. The High Commission in London has confirmed that the Governments of New Zealand and the Isle of Man have appropriately completed their legal ratification processes regarding the Tax Information Exchange Agreement (TIEA) and Double Taxation Agreement (DTA) signed by the countries. With the stipulated one year waiting period over, as outlined ... Read More

The Reserve Bank of New Zealand has deemed the country’s economic growth strong enough to instate another increase to the national Official Cash Rate. New Zealand has continued down a path of a relatively healthy economic recovery in recent months, despite a small slowdown in selected growth figures. On July 29th Allan Bollard, Governor of the Reserve Bank, revealed that the current conditions are adequate to warrant a slight withdrawal of stimulus policy and a 25 basis point increase the Official Cash Rate ... Read More