Sep 30, 20080

Tax Cuts Come Into Effect

Categories: New Zealand Taxation

From the 1st of October, individual tax level faced by New Zealanders will be lowered. This is the first of the three tax cuts put forward by Finance Minister Michael Cullen. The effect of this will be most felt with those in the $38,001 – 40,000 taxable income bracket, with a drop from a tax [...]

From the 1st of October, individual tax level faced by New Zealanders will be lowered. This is the first of the three tax cuts put forward by Finance Minister Michael Cullen. The effect of this will be most felt with those in the $38,001 - 40,000 taxable income bracket, with a drop from a tax rate of 33% to 21%. Earners in the $14,001 - 38,000 bracket will see no change, while $9,501 - 14,000 will see a drop of 8.5% to a ... Read More

Aug 29, 20080

New Tax on Staple Stock

Categories: New Zealand Taxation

Legislation on staple stock has changed, making certain instruments be regarded as equity for the purpose of tax evaluation. According to statements issued by Finance Minister Michael Cullen and Revenue Minister Peter Dunne, the changes are aimed at preventing revenue losses arising from debt issued along side to shares in a staple stock system.

Legislation on staple stock has changed, making certain instruments be regarded as equity for the purpose of tax evaluation. According to statements issued by Finance Minister Michael Cullen and Revenue Minister Peter Dunne, the changes are aimed at preventing revenue losses arising from debt issued along side to shares in a staple stock system. Read More