The 2025 Taskforce published its report to the New Zealand Government on November 30th, suggesting a number of taxation and government spending changes it believes are necessary in order for the country to close any incomes gaps with Australia. Key suggestions brought forward by the 2025 Taskforce report include lowering the current top tax rate of 38% and the corporate tax rate of 30% to 20%. If suggestions in the report are followed, Government spending in 2012 and 2013 will be reduced ... Read More

The Taxation (International Taxation, Life Insurance, and Remedial Matters) Bill has passed through the final stages of New Zealand Parliament. The Taxation (International Taxation, Life Insurance, and Remedial Matters) Bill was first introduced to parliament in March, 2008. It was intended to be a far reaching Bill, encompassing and amending many areas. Peter Dunne, Revenue Minister, stated in regards to the bill "The reforms are aimed variously at reducing tax costs for businesses, bringing tax law up to date with today's commercial environment, protecting ... Read More

New Zealand and Australia have signed a Memorandum of Understanding, bringing the idea of superannuation portability between the two countries one step closer to reality. New Zealand Finance Minister Bill English and New Zealand Finance Minister Bill English singed a Memorandum of Understanding on the 16th of July, indicating that both governments formally acknowledge their intent to implement into law provisions for superannuation portability. Legislative changes are still required before the superannuation portability can become a reality, this is expected to occur ... Read More