The effects of changes to taxation in the new budget has been enacted by Parliament. The changes to taxation brought about by the new budget have been passed through Parliament under the Taxation (Budget Tax Measures) Bill. It was introduced under urgency n the same day as the budget, the 28th of May, it passed [...]

The effects of changes to taxation in the new budget has been enacted by Parliament. The changes to taxation brought about by the new budget have been passed through Parliament under the Taxation (Budget Tax Measures) Bill. It was introduced under urgency n the same day as the budget, the 28th of May, it passed and received Royal Assent the following day. The weekend and public holiday meant that it was only enacted on the following work day, the 2nd of June. The ... Read More

New Zealand Prime Minister John key delivered the new Budget, no great surprises were present. The new Government’s first Budget has been released amongst poor economic conditions and threats of credit rating downgrades. No particular surprises were featured, that have not been circulating over the previous weeks. The promised personal tax cuts for 2010 and [...]

New Zealand Prime Minister John key delivered the new Budget, no great surprises were present. The new Government’s first Budget has been released amongst poor economic conditions and threats of credit rating downgrades. No particular surprises were featured, that have not been circulating over the previous weeks. The promised personal tax cuts for 2010 and 2011 have been deferred, with no set date. To some analyst this has suggested these cuts be in perpetual deference, as John Key has talked of working ... Read More

The New Zealand government proposed lowering of contributions to KiwiSaver have been passed through law. On the 10th of December parliamentary debate ended with the Taxation (Urgent Measures and Annual Rates) Bill passing, with 68 votes for and 52 votes against. Along with confirming in law changes to personal taxation levels and income brackets for [...]

The New Zealand government proposed lowering of contributions to KiwiSaver have been passed through law. On the 10th of December parliamentary debate ended with the Taxation (Urgent Measures and Annual Rates) Bill passing, with 68 votes for and 52 votes against. Along with confirming in law changes to personal taxation levels and income brackets for the next three years, the Bill alters the way in which KiwiSaver contributions are made. Under the newly passed laws KiwiSaver contributions are cut from an option ... Read More

Kiwisaver fund provider Mercer has warned that at current tax levels the government incentives to join and utilize Kiwisaver would be made null by the taxes imposed on the earnings. According to Paul Newfield, Mercer’s head of retirement, risk and finance, over a lifetime of saving through Kiwisaver, the Kiwisaver incentives of a $1000 initial [...]

Kiwisaver fund provider Mercer has warned that at current tax levels the government incentives to join and utilize Kiwisaver would be made null by the taxes imposed on the earnings. According to Paul Newfield, Mercer's head of retirement, risk and finance, over a lifetime of saving through Kiwisaver, the Kiwisaver incentives of a $1000 initial government contribution, $1040 yearly contribution and employer contributions would all not be enough to equal out the total taxes that one would face on Kiwisaver. According to Kiwisaver documentation, ... Read More