Government

Tax Revenue Down by $1.4 Billion

Tax revenues in New Zealand are continues to be below forecast, although the government believes that there will be some improvement.

IRD to Share More Taxpayer Info

The IRD and Ministry of Social Development are improving their info sharing capabilities in order to cut down the occurrence of benefit fraud in New Zealand.

Maori Party Wants Higher Tobacco Taxes

The Maori Party is campaigning for the government to announce even further increases to tobacco taxes in the Budget announcement later this month.

Governments Stills Aims for Surplus in 2014

Despite the recent reduction in the forecast for the New Zealand budget, John Key has repeated the government’s goal of reaching a surplus within the next three years.

Reserve Bank Maintains 2.5% OCR

Due to the country’s positive economic performance and acceptable levels of inflation, the Official Cash Rate in New Zealand will not be changed this month.

Aug 25, 20080

Australian Superannuation Portability Allowed

Categories: International Finance, New Zealand Finance

The New Zealand and Australian government have reached a consensus to allow the transfer of superannuation funds belonging to New Zealanders that are held by the Australian government. The Australian government estimates that the currently hold $13 billion AUD in unclaimed superannuation funds, estimates put up to 30% of this as possibly belonging to New Zealanders who no longer reside in Australia. By current regulation there is no way to access these trans-Tasman funds until their owner is 60 years old. The scheme ... Read More

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