Talks between Finance Minister Bill English and Australian Treasurer Wayne Swan regarding superannuation portability will commence on the 16th of July. An agreement in these talks could see a complete set of portability rules in regards to the superannuation of residents of either country permanently moving to the other. Bill English has stated that the envisaged set of rules will allow for the movement of Kiwisaver funds an appropriate compatible Australian counterparts. As the details have yet to be discussed between appropriate ... Read More

John Key’s New Zealand Budget has met with some hostile responses in Parliament. While opposition is expected to any budget announcement, this year’s has seen a significant amount of vehemence. Labour Party Leader Phil Goff has been one of the key figures in the opposition to the budget announcement. The two key points that Phil Goff has been opposing is the “deferral” of the personal tax cuts and suspension of superannuation payments. While the personal tax cuts are indefinitely deferred, Phil Goff was ... 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 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

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