The IRD is looking at potential changes which could be made to the tax treatment of residential body corporates. On May 8th the IRD released a new issues paper calling for public opinion on the treatment of GST for bodies corporate. According to the IRD, a body corporate “makes supplies of services to owners of [...]

The IRD is looking at potential changes which could be made to the tax treatment of residential body corporates. On May 8th the IRD released a new issues paper calling for public opinion on the treatment of GST for bodies corporate. According to the IRD, a body corporate “makes supplies of services to owners of a unit title”, and discussions are now being held on whether body corporates carry out taxable activity and whether such entities qualify as body corporates may register for GST. Explaining ... Read More

The Labour Party and the Green party are teaming up in support of new tax incentives which would lead to New Zealanders to have healthier diets and purchase more fruits and vegetables. According to conclusions drawn in new research published by the World Health Organization, New Zealand has one of the highest rates of diabetes [...]

The Labour Party and the Green party are teaming up in support of new tax incentives which would lead to New Zealanders to have healthier diets and purchase more fruits and vegetables. According to conclusions drawn in new research published by the World Health Organization, New Zealand has one of the highest rates of diabetes sufferers in the world. The report has prompted Labour Party leader Phil Goff to stand up in renewed support of cutting the Goods and Service Tax (GST) on ... Read More

The Savings Working Group has released its final report, outlining several measures to increase the country’s savings level. On the February 1st the government appointed Savings Working Group (SWG) released its long awaited final report, with suggestions on reducing New Zealand’s overall reliance on overseas debt. According to research within the report, the country’s net [...]

The Savings Working Group has released its final report, outlining several measures to increase the country’s savings level. On the February 1st the government appointed Savings Working Group (SWG) released its long awaited final report, with suggestions on reducing New Zealand’s overall reliance on overseas debt. According to research within the report, the country’s net foreign liability currently stands at 85 percent of the GDP. Comparatively, Australia is only at a level of 58 percent. The comparatively large liabilities level means that New ... Read More

Last year’s Goods and Service Tax rate increase caused a significant jump in New Zealand’s inflation figure, with debate arising as to whether consideration should be taken to lower the tax. Last week it was revealed that the recent hike in the national Goods and Service tax (GST) rate bumped the quarterly inflation level to [...]

Last year’s Goods and Service Tax rate increase caused a significant jump in New Zealand’s inflation figure, with debate arising as to whether consideration should be taken to lower the tax. Last week it was revealed that the recent hike in the national Goods and Service tax (GST) rate bumped the quarterly inflation level to the highest it has been in 22 years. According to official data released by the Reserve Bank of New Zealand (RBNZ), inflation for the three months to ... Read More