Within days of the 2025 Taskforce releasing their report to the New Zealand Government and the Tax Working Group’s conference, intense debate has arisen around the changes that need to be made in New Zealand’s taxation system, bringing into question set goals and the methods behind them. Amid a global financial crisis and worldwide climate [...]

Within days of the 2025 Taskforce releasing their report to the New Zealand Government and the Tax Working Group's conference, intense debate has arisen around the changes that need to be made in New Zealand's taxation system, bringing into question set goals and the methods behind them. Amid a global financial crisis and worldwide climate of tax changes, the New Zealand Government has created two research groups with the common goal of improving the country's financial standing. The 2025 Taskforce was charged with ... Read More

According to statements from Finance Minister Michael Cullen made during a television interview on the 19th of October, the newly proposed bank guarantee scheme could soon be extended to wholesale deposits. As it stands at this moment in time, the proposed retail-banking guarantee scheme does not extend to funds attained from international wholesale markets. According [...]

According to statements from Finance Minister Michael Cullen made during a television interview on the 19th of October, the newly proposed bank guarantee scheme could soon be extended to wholesale deposits. As it stands at this moment in time, the proposed retail-banking guarantee scheme does not extend to funds attained from international wholesale markets. According to Michael Cullen the government has been looking at the possibility of making this a reality, although since the New Zealand banking system was not undergoing any ... Read More

In a bid to increase financial confidence, the New Zealand Government has instituted a bank deposit guarantee scheme. The scheme was announced by Finance Minister Michael Cullen and was brought in under the Public Finance Act. While he went on to say that the government has total confidence in the New Zealand banking sector, the [...]

In a bid to increase financial confidence, the New Zealand Government has instituted a bank deposit guarantee scheme. The scheme was announced by Finance Minister Michael Cullen and was brought in under the Public Finance Act. While he went on to say that the government has total confidence in the New Zealand banking sector, the initiative was to ensure confidence from both banks and New Zealand investors. The move follows similar schemes adopted recently by Ireland and Australia. The Deposit Insurance is currently is ... Read More

From the 1st of October, individual tax level faced by New Zealanders will be lowered. This is the first of the three tax cuts put forward by Finance Minister Michael Cullen. The effect of this will be most felt with those in the $38,001 – 40,000 taxable income bracket, with a drop from a tax [...]

From the 1st of October, individual tax level faced by New Zealanders will be lowered. This is the first of the three tax cuts put forward by Finance Minister Michael Cullen. The effect of this will be most felt with those in the $38,001 - 40,000 taxable income bracket, with a drop from a tax rate of 33% to 21%. Earners in the $14,001 - 38,000 bracket will see no change, while $9,501 - 14,000 will see a drop of 8.5% to a ... Read More