NZ Treasure Backs Sugar Tax

Evidence prepared earlier this shows that taxes on sugary drinks would have an impact on obesity rates in New Zealand, especially among low-income earners. On November 19th the Treasury released a report on the potential feasibility of implementing several measures aimed at tackling the country’s growing obesity problem. The tax measures examined in the report […]

Home Detention for $1 Million Tax Evader

A director of two security companies in Wellington has been found guilty of dodging taxes of almost a million dollars. Last week the Wellington District Court a serial tax offender was sentenced to eight months home detention. Paul Cornel Coffey, a director of two security companies, was found guilty of 79 tax offenses, including failing […]

Reserve Bank Releases Financial Stability Report

The New Zealand financial system is generally in god health, but faces threats from falling dairy prices and a surging property market. On November 11th the Reserve Bank of New Zealand released its annual Financial Stability Report, detailing the national financial system and the risks it faces. It was noted that the national financial system […]

NZ Budget Dips Again

The New Zealand government is in a better financial position than previously forecast, despite returning back to a deficit. On November 6th the Treasury of New Zealand issued a new statement to announce that the government has returned to a budget deficit, although it is smaller than previously forecast. The operating balance before gains and […]

Bright Line Test Passes Second Reading

The newly proposed “bright line test” for gains on property sales in new Zealand has taken another step to becoming a reality. On November 3rd the second reading the Taxation (Bright-line Test for Residential Land) Bill passed its second reading in Parliament. The rules detailed in the new Bill are aimed at ensuring that gains […]

John key Denies Sugar Tax

The government will rely on education programmes and exercise instead of taxing people in order to help fight obesity. Early on October 18th the Prime Minister of New Zealand John Key claimed that the government would not be implementing a tax on the sale of sugary drinks. The Prime Minister said that obesity has now […]

Tax Adviser Sentenced for Tax Fraud

A tax adviser has been sentenced for a tax evasion scheme involving fictitious property sales and a series of fake businesses and invoices. On October 14th the Inland Revenue Department issued a statement announcing that a tax advisor from the Lower Hutt who has been accused of tax evasion has now been sentenced to 10 […]

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 […]