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

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 [...]

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

Progressive release of ominous bad financial news is making the upcoming 2010 and 2011 tax cuts look unlikely. The Government’s budget has decreased yet again, putting it in an even more financially precarious position than previously. Recently figures show that the government’s eight month till February budget figure was NZ$ 8.45 billion in the negative. [...]

Progressive release of ominous bad financial news is making the upcoming 2010 and 2011 tax cuts look unlikely. The Government’s budget has decreased yet again, putting it in an even more financially precarious position than previously. Recently figures show that the government’s eight month till February budget figure was NZ$ 8.45 billion in the negative. When the pre-election forecast figure was at NZ$3.18 billion in surplus, this puts a great strain on previous budgetary plans. Statements by Prime Minister Bill English have already ... 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 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