Apr 1, 2009
The National promised tax cuts came into effect on the 1st of April, 2009. As of the first of April, 2009, a number of changes are taking place in the New Zealand taxation system both in regards to business and personal taxation. To the everyday individual, most noticeable amongst these will be the introduction of [...]
The National promised tax cuts came into effect on the 1st of April, 2009.
As of the first of April, 2009, a number of changes are taking place in the New Zealand taxation system both in regards to business and personal taxation.
To the everyday individual, most noticeable amongst these will be the introduction of the Independent Earners Tax Credit, which will deliver a net $520 ($10 per week) to those earning between $24,000 and $44,000. This decrease at 13 cents per ... Read More
Feb 23, 2009
The Governmental spending power is lower than the forecast pre-election figures, a lower tax revenue is blamed. According to the financial statements released by the New Zealand Government under the Public Finance Act 1989, the government is operating with a much lower monetary amount than previously predicted. Chief blame behind this rest with the lowered [...]
The Governmental spending power is lower than the forecast pre-election figures, a lower tax revenue is blamed.
According to the financial statements released by the New Zealand Government under the Public Finance Act 1989, the government is operating with a much lower monetary amount than previously predicted. Chief blame behind this rest with the lowered tax revenue experienced by the government, with figures of $29,344 million as opposed to the December forecast of $30,529 million. Similarly the Crown’s core expenses were almost ... Read More
Feb 5, 2009
Along with the changes to New Zealand taxation announced in the government Jobs and Growth Plan that were published yesterday, other changes were made. Businesses are now able to provide up to $300 worth of fringe benefits per quarter per employee without attracting Fringe Benefit Tax. Further, the interest rate on for low interest employee [...]
Along with the changes to New Zealand taxation announced in the government Jobs and Growth Plan that were published yesterday, other changes were made.
Businesses are now able to provide up to $300 worth of fringe benefits per quarter per employee without attracting Fringe Benefit Tax. Further, the interest rate on for low interest employee loans has been reduced from 10.9% to 8.05%. Government press releases are vague in regards to some changes, although they are positive changes to business. These include simplification ... Read More
Feb 4, 2009
The government of New Zealand has announced eleven changes to the tax system in their Jobs and Growth Plan. Aimed primarily at improving the situation for small and medium businesses, the Jobs and Growth Plan is currently constructed out of eleven changes to the taxation system, along with four changes with the same aim but [...]
The government of New Zealand has announced eleven changes to the tax system in their Jobs and Growth Plan.
Aimed primarily at improving the situation for small and medium businesses, the Jobs and Growth Plan is currently constructed out of eleven changes to the taxation system, along with four changes with the same aim but not in regards to tax.
The two main aspects of the new changes are a lowering of the tax underpayment interest rate to 9.73% (from 14.24%) and the removal ... Read More
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