Australia tagged posts

Tax Change Would Boost Trans-Tasman Economy

September 3, 2012 International TaxationNew Zealand Taxation

Life, the universe, and everythingCalls have been raised to take further steps to create closer economic ties between Australia and New Zealand by bringing the two countries’ tax systems closer.

Last week a new research was co-published by the Sydney’s Centre for International Economics and New Zealand Institute of Economic Research, showing that the economies of Australia and New Zealand could grow by a additional NZD 6.9 billion over the next 18 years if changes were made to the trans-Tasman tax rules to stop the double taxation of dividends.

The research was commissioned by the Australian Leadership Forum to examine the potential effects of scrapping the current system for franking and imputation credits, and establishing a new “streamlined” tax system which would allow taxpayers to claim personal tax refunds on the ta...

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IMF Releases Reports on NZ

May 27, 2010 International FinanceNew Zealand FinanceNew Zealand Taxation

International Monetary Fund [oct 25]The International Monetary Fund (IMF) has released two separate reports analyzing the future potential economic output and fiscal balances of the New Zealand economy.

On May 26th the IMF released The Potential Contribution of Fiscal Policy to Rebalancing and Growth in New Zealand and Potential Growth of Australia and New Zealand in the Aftermath of the Global Crisis, two separate working papers concerning aspects of the New Zealand and Australian economies, in the face of the receding effects of the global economic crisis.

The Potential Contribution of Fiscal Policy to Rebalancing and Growth in New Zealand, advises the New Zealand Government to rebalance its taxation policy to reduce the reliance on labor and capital taxation...

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New Zealand Outperforms Australia in Recession

April 20, 2010 New Zealand Finance

Recent research has suggested that Australian businesses fared worse in 2009 and 2008 than those in New Zealand.

In the recently released April 2010 MYOB Business Monitor report Australian and New Zealand business owners were surveyed for their opinions on the current economic situation in both nations. The report showed that 39 percent of surveyed businesses reported a fall in revenue during the twelve months to July 2009, while only 35 percent of New Zealand firms provided the same response. Commenting on the difference, Tim Reed, MYOB’s Sydney-based Chief Executive, said that the survey shows that New Zealand business showed a great sense of resilience throughout the economic downturn.

The report revealed that 50 percent of New Zealand business owners expected the economy to improve ove...

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NZ-Australia DTA One Step Closer

February 18, 2010 International TaxationNew Zealand Taxation

United Future AnnouncementThe upcoming Double Taxation Agreement (DTA) between New Zealand and Australia has taken one step towards to coming into effect after a Governmental signing of an Order of Council for the document.

The New Zealand Government has begun to incorporate the DTA into the country’s law system through a signing of an Order in Council on February 17th, according to Peter Dunne, New Zealand Revenue Minister. Once the legal incorporation is complete for both nations the DTA will come into full effect. Australia is yet to commence their respective ratification process. Changes within the DTA are expected to begin in late 2010, two months after the expected conclusion of both countries’ ratification process.

The DTA which was a product of more than a year’s worth of negotiations was signed on June ...

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