tax change tagged posts
June 22, 2012 New Zealand Taxation
The government is looking to implement several tax changes in order to ensure that New Zealand’s tax system continues to stay fair and is appropriate for the current financial conditions around the world.
On June 21st the Minister of Revenue Peter Dunne gave the keynote speech at the annual conference of the New Zealand Payroll Practitioners’ Association in Auckland, describing the current state of the national tax system and detailing upcoming changes for tax processing and filing.
According to the Minister, due to the financial situation in Europe, New Zealand can no longer continue borrowing money to fund public spending, and this situation underlines the importance of having an efficient tax system in the country...Read More
March 20, 2012 New Zealand Taxation
New Zealand will not see cuts to personal income taxes, corporate income taxes or GST in the near future, according to the secretary of the New Zealand Treasury.
While delivering a speech at a conference of the International Fiscal Association in Queenstown on March 17th, the secretary of the Treasury of New Zealand Gabriel Makhlouf described the current state of the national tax system and also discussed potential changes which could be implemented in the future.
The Secretary suggested that, ideally, New Zealand should align the top tax rates for personal incomes and corporate incomes. He said that the current 5 percent difference in the rates is acceptable, but the gap should not be allowed to widen any further.
Gabriel Makhlouf also noted that the rate of corporate taxes in New Zealand...Read More
Parliament has been presented with a report by the Finance and Expenditure in regards to upcoming tax changes.
The Taxation (International Taxation, Life Insurance, and Remedial Matters) Bill which was introduced in the July of 2008. The Finance and Expenditure Committee has replied to the proposed changes in four volumes, addressing the various aspects of the bill. Some changes are recommended, including the delay of some aspects.
The Taxation (International Taxation, Life Insurance, and Remedial Matters) Bill sought to radically address numerous aspects of the New Zealand taxation system...Read More
March 25, 2009 New Zealand Taxation
Peter Dunne is advising that the government delay the series of tax reforms that it is set on implementing on the 1st of April.
Revenue Minister Peter Dunne has voiced his concern in regards to the Taxation (International Taxation, Life Insurance, and Remedial Matters) Bill, introduced last July. According to him, there are numerous business owners and their tax advisors that are not necessarily ready or fully comprehend the changes that are set to occur on the 1st of April.
Peter Dunne has proposed the following changes. Reform of international taxation will proceed as planned except for those with balance dates before the 30th of June. Proposed changes to life insurance and PIE schemes are to be deferred to a date set by consultation with industry representatives...Read More