NZ Super Fund Seeks New Zealand Investments

The New Zealand Super Fund is looking for new local investment, but has trouble finding new opportunities which meet its requirements. The New Zealand Super Fund is actively looking for more New Zealand investments, according to comments made by the Chief Executive Adrian Orr at the release of the Fund’s annual report. The New Zealand […]

Economic Growth Softens in New Zealand

Weakening economic conditions in New Zealand and around the world have led to a slow down in economic growth over the course of 2015. Economic growth in New Zealand over the June quarter has been lower than expected, with GDP growth only reaching 0.4 percent, according to a new statement issued on October 6th by […]

Toilet Tax Stinks, Says Motel Association Chief

Motels across the country are being unfairly targeted by toilet taxes which do nothing but clog up business with red tape and extra costs. In a statement issued late last week the Motel Association of New Zealand (MANZ) called on local council in New Zealand to drop “toilet taxes”. Currently some local councils in New […]

Tradies Changing Attitudes on Cash Jobs

Over the last three years an increasing number of tradies have come to realize that under-the-table cash jobs are tax evasion. Tradespeople in New Zealand are taking onboard the message that they should not do cash jobs and skip out on paying their taxes, according to a new statement released on September 30th by the […]

Jedis Denied Tax-Free Status

A submission to grant tax-free charitable status to a group claiming to be Jedis has been denied, as the “religion” is not cogent and does not advance spiritual improvement. In a recent decision the Charities Registration Board of the Department of Internal Affairs opted to deny granting charitable status to Jedi Society Incorporated, a group […]

New Property Rules Receive Ascent

New rules will come into effect within days to ensure that incomes from property sales are properly taxed and that money used for property purchases is legitimate. Late last week the two new Bills received Royal Assent, bringing into force new regulations regarding the requirements imposed and the taxation matters concerning the purchase and sale […]

Home Detention for $40k of GST Fraud

Home detention has been passed as a sentence to a man who falsely used another person IRD details to claim over NZD 40 thousand in GST refunds. On September 16th the Inland Revenue Department issued a statement saying that a former Kaitaia man has been sentenced to 10 months home detention and ordered to pay […]

Oil Slop Leads to $71 Million Tax Dispute

The New Zealand oil industry could be facing a NZD 71 million tax bill, as Customs claims nearly 30 years of back taxes. Late last week Z Energy announced that it is considering launching legal proceedings against New Zealand Customs over a dispute regarding the taxation of slop oil. Customs New Zealand has recently claimed […]

Home Detention for Repeat Tax Evader

A serial tax offender in Auckland has been given a punishment of home detention for evading nearly half a million dollars of taxes. Last week Sonny Te Kanawa Walker was convicted in the Manukau District Court for repeated tax evasion charges. Sonny Te Kanawa Walker was accused of evading tax obligations arising from profits garnered […]

Government Proposes Offshore Property Withholding Tax

The government is cracking down on property speculation by foreign investors by proposing a withholding tax on such sales. On August 31st the Inland Revenue Department released an issues paper on proposed new rules for collection income taxes for profits obtained by offshore residents selling property in New Zealand. Under the proposed rules, foreign sellers […]