Chief Executive tagged posts

GST Rise May Lead to Disproportionate Costing

June 28, 2010 New Zealand FinanceNew Zealand Taxation

24-02-2005New Zealand’s upcoming GST rate increase could result in the prices of items rising by more than the prescribed amount, with retailers potentially using the time to charge extra.

Over the weekend several researchers and retailers in New Zealand claimed that the upcoming GST rate increase would be used by some sellers to increase their prices above the prescribed rate. According to John Albertson, Chief Executive of the Retail Association, claimed that some retailers might attempt to round-up their prices after the increase, capitalizing on any confusion shoppers might have. As an example he pointed to an item which would ordinarily be priced at NZD 9.99, after the October 1st increase the price should be NZD 10.21. He claimed that it is conceivable that this will be rounded to NZD 10...

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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 Service Sector Improving

March 15, 2010 New Zealand Finance

Spaghetti JunctionNew Zealand’s service sector showed signs of expansion during the month of February, both in comparison to the same period in 2009 and January 2010.

According to the newest NZ Performance of Services Index (PSI) report released by BNZ-BusinessNZ, the New Zealand service sector has seen two periods of expansion in 2010, following overall contractions in 2009 and 2008. The BNZ report includes a compiled index which quantifies sector growth and sentiment, the February figure stood at 53.7. Scores of over 50 signify a pattern of growth, while anything below indicates falls. The PSI score for January was reported as 53.1, the average figures for 2009 and 2008 were 48.8 and 49.1 respectively. The last positive yearly average was in 2007, with 58.1.

Doug Steele, Bank of New Zealand Chief Econom...

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Tertiary Funding Faces Overhaul

March 10, 2010 New Zealand Finance

Lecture TimeThe New Zealand Government has announced that from 2012 the tertiary-education funding scheme will be changed to reflect the academic performance of institutions and not just their enrollment numbers.

In Government statement released March 10th, Steven Joyce, New Zealand Tertiary Education Minister, announced that the funding that tertiary institutions receive in 2012 will be based on their academic performance of 2010. Dr Roy Sharp, Chief Executive of the Tertiary Education Commission (TEC), confirmed that from July 2010 the academic information of each tertiary institution will be published and used to evaluate funding entitlement. Judging parameters will include student’s progression to higher levels of study; student retention rates; course completion; and, qualification completion.

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