New 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, ... Read More

The New Zealand Government has launched a Goods and Service Tax (GST) advisory panel, to help businesses transition to an increased tax rate on October 1st. On June 21st the New Zealand Inland Revenue Department (IRD) announced the launch of the GST Advisory Panel. According to Peter Dunne, New Zealand Revenue Minister, the panel was created to aid the GST-rate transition for the generation of businesses who have not have not yet faced a sales tax increase. Peter Dunne explained that the Advisory Panel ... Read More

Independent business groups are calling for the New Zealand Government to institute a new Goods and Service Tax (GST) exemption system for visiting overseas-residents. On June 5th Cameron Brewer, CEO of the Newmarket Business Association, issued a statement supporting Ann Lockhart, CEO of the Queenstown Chamber of Commerce, who on the same day called for a revised GST-exemption program to be instituted for foreign visitors. Under the proposal, overseas nationals could present their purchase invoices at a New Zealand international airport and be ... Read More

Reactions are beginning to emerge regarding the 2010 New Zealand Government Budget. The latest fiscal policy changes have garnered relatively neutral results, although some changes have received widespread welcome. On May 20th the New Zealand Government revealed its latest budget, introducing numerous personal income tax rate decreases, measures to close loopholes in the tax treatment of rental properties, and an unexpected cut to the level of corporate taxation. According to a poll conducted by New Zealand Taxation, nearly 60 percent of respondents claimed ... Read More