Kiwi

New Zealand Tax Revenue Down by $3.18 Billion

In its latest Tax Outturn report, the New Zealand Government has revealed that the total unconsolidated tax revenues for the seven months to January 2010 were 9 percent lower than the same period last year, and 0.1 percent below previous forecasts.

NZ Benefit Numbers Drop

On March 7th the New Zealand Government revealed that over the month of February the number of individuals on the Unemployment benefit had dropped by 4 224, the largest decrease since the beginning of the recession.

Tertiary Funding Faces Overhaul

The New Zealand Government has announced that from 2012 the tertiary-education funding scheme will be changed to reflect the academic performance of institutions and not just their enrollment numbers.

NZIER Predicts Slow Economic Recovery

The New Zealand Institute of Economic Research (NZIER) has released its latest report, in which it describes New Zealand’s economic recovery over the upcoming years as “jagged”, along with “bumpy and subdued”.

Church Donation Tax Cheat Sentenced

An Upper Hut resident who defrauded the Inland Revenue Department (IRD) for NZD 41 000 by using a system fake church donations has been sentenced to seven months home detention and 120 hours of community service.

Jan 21, 20090

Kiwi Hit 6 Year Low on Momentous Day

Categories: International Finance, New Zealand Finance

The Inauguration of Barack Obama, release of 2008 inflation figures and a losing day on Wall St saw the New Zealand Dollar hit a 6 year low against the U.S. Dollar (greenback). The New Zealand Dollar (Kiwi) reached a value of US51.65 cents.Further, the Kiwi reached a seven year low of 46.98 against the Japanese Yen. The falls came amidst similar moves from many world currencies. On a global scale this can be attributed to the speech of Barack Obama, which did not reveal ... Read More

Jan 6, 20090

Kiwi Rises Against Greenback and Yen in New Year

Categories: International Finance, International Taxation, New Zealand Finance

An improved tax outlook in the U.S. and best Christmas in record in NZ, sees the New Zealand Dollar (Kiwi) rise against both the U.S. Dollar (Greenback) and the Japanese Yen. With hopes pending on President Elect Barack Obama’s proposed U.S. Economic stimulus package, American investors are apparently more open to the prospects of higher yield yet higher risk investments. In effect lowering demand for safer currencies like the Japanese Yen and raising that for the likes of the Kiwi. The package prosposes ... Read More

Jan 2, 20090

2008 Worst Year for New Zealand Dollar Ever

Categories: New Zealand Finance

The year 2008 saw the highest fall in the value of the New Zealand dollar against the U.S. Dollar. Amidst world financial crises in 2008, the New Zealand Dollar (also known as the Kiwi) saw itself both at the highest levels it has reached in the last 23 years and experiencing the biggest drop of its lifetime. On March 14th, the New Zealand Dollar was traded at 82.13 U.S. cents to the dollar. On the 31st of December 2008, the Kiwi was trading ... Read More

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