The 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 ... Read More

The New Zealand Official Cash Rate (OCR) was left unchanged at its latest review. At the quarterly Reserve Bank OCR Review, on January 28th, it was announced that the rate would remain at its current level of 2.5 percent. Alan Bollard, Reserve Bank Governor, said that the decision comes as a result of the economy remaining consistent with projections made in the December Monetary Policy Statement. He continued on to say that the annual CPI inflation is situated squarely in the target band ... Read More

New Zealand and Australia have signed a Memorandum of Understanding, bringing the idea of superannuation portability between the two countries one step closer to reality. New Zealand Finance Minister Bill English and New Zealand Finance Minister Bill English singed a Memorandum of Understanding on the 16th of July, indicating that both governments formally acknowledge their intent to implement into law provisions for superannuation portability. Legislative changes are still required before the superannuation portability can become a reality, this is expected to occur ... Read More