Inland Revenue tagged posts

IRD Gets New Funding for Anti-Evasion Push

May 13, 2014 New Zealand Taxation

The IRD is looking to take on a significant number of new specialist staff to help recover previously unpaid taxes.

On May 12th the government announced that the upcoming budget would allocate approximately NZD 132 million to be spent over the next five years to help improve tax compliance and to chase down tax evaders.

Approximately NZD 48.6 million of the funds will be used to help the IRD to hire new staff and specialist specifically charged with cracking down on taxpayers who neglect to file tax returns, or those attempting to evade taxes.

The remainder of the funds is to be used by the IRD to write off taxes which are unlikely to be recovered through the IRD’s efforts.

It is estimated that the extra staff will help the IRD to recover approximately NZD 297...

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Tax Policy Update from Speech

May 20, 2009 New Zealand Taxation  No comments

Revenue Minister Peter Dunne gave a speech on the 15th of May, updating the government’s tax policies.

Revenue Minister Peter Dunne gave a speech to the New Zealand Institute of Chartered Accountants in Masterton. He addressed the current state of the economy as an opening for his update of the government’s current tax policy plans.

Peter Dunne restated his plans to instate a 30% tax alignment policy between company, top personal and trustee tax. Although he did say that this currently limited to a medium term plan on account of the Government’s financial position, unless an unexpected and large financial turnabout occurs.
He mentioned the Income splitting bill, which is scheduled to be introduced in 2010...

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Taxation System Consultancy Group Set Up

May 8, 2009 New Zealand Taxation  No comments

An assistance group for the Government has been set up, with the aim of advising the government on the taxation system decisions and planning.

It was announced by Finance Minister Bill English and Revenue Minister Peter Dunne that the “Tax Working Group” has been established and will assist the Government with policy decision changes. While the newly formed group will not have direct input into the decision making process for the Government, it will still be influential in its actions. Primarily the group will conduct a number of meetings in the time space between June and November, along with publishing a number of papers which will directly address issues faced by the Government...

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