Putting an end to months of waiting, Prime Minister John Key made his first statement to the Parliament, on February 9th, outlining the Government’s intentions for the tax system, economic growth, along with making the long awaited response to the Tax Working Group Report. With the countries recent focus on the tax system and possible reforms, John Key initiated his speech by disclosing the Government’s plans for the taxation landscape. He indicated that investigations are currently being held around the feasibility of ... 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

The National promised tax cuts came into effect on the 1st of April, 2009. As of the first of April, 2009, a number of changes are taking place in the New Zealand taxation system both in regards to business and personal taxation. To the everyday individual, most noticeable amongst these will be the introduction of the Independent Earners Tax Credit, which will deliver a net $520 ($10 per week) to those earning between $24,000 and $44,000. This decrease at 13 cents per ... Read More