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Tax Working Group

Budget changes lift ING Property Trust deferred tax liability

Budget changes lift ING Property Trust deferred tax liability
Wellington, Aug 16 NZPA - ING Property Trust's deferred tax liability is to rise by about $96.8 million following tax changes relating to the removal of depreciation of building structures announced in the budget in May.

Capital gains tax should be considered later, report

Capital gains tax should be considered later, report
Wellington, July 8 NZPA - Treasury and the Inland Revenue Department (IRD) did not think a comprehensive capital gains tax was feasible for the 2010 budget and argued it could be considered later in continuing strategic tax reform.

Deferred tax liabilities made accounts hard to read

Wellington, June 28 NZPA - The Inland Revenue Department (IRD) believes users of financial information, including banks, will look through the large deferred tax liabilities companies are currently reporting.

Rents could rise up to 6.5 percent - investors say

Rents could rise up to 6.5 percent - investors say
Wellington, May 21 NZPA - Rents could increase by 4.5 percent to 6.5 percent, the New Zealand Property Investors' Federation (NZPIF) says. The figure was higher than Treasury's estimate of 1.5 percent over three to four years.

Lower company tax for business but depreciation change too

Lower company tax for business but depreciation change too
Wellington, May 20 NZPA - Business gets a lower company tax rate but loses the ability to charge depreciation on buildings in the budget. The Government said it was delivering the biggest reform of the New Zealand tax system for nearly 25 years.

Government removes depreciation for buildings

Government removes depreciation for buildings
(corrects intro) Wellington, May 20 NZPA - Owners of both commercial buildings and rental houses will no longer be able to claim depreciation on their investments.

Tax on property investment decisions awaited in Budget

Tax on property investment decisions awaited in Budget
Wellington, May 16 NZPA - The focus for business in the government's budget on Thursday will be on changes to rules surrounding property investment and the detail of the well-signalled switch to lower income tax funded by a higher goods and services tax (GST), according to analysts.

AMP Office Trust nine-month distributable profit rises

Wellington, April 23 NZPA - AMP NZ Office Trust (ANZO) said its distributable profit rose 11.9 percent to $46.99 million in the nine months to March 31 from a year ago due to higher rental revenues and lower interest costs and asset management fees.

Govt continues to soften up public for tax changes

Govt continues to soften up public for tax changes
Wellington, April 1 NZPA - The Government is continuing to soften up the public for changes to the rental property taxation regime with Treasury Secretary John Whitehead the latest to land a few blows about problems with it.

NZX boss Mark Weldon paid $1.39 million

NZX  boss Mark Weldon paid $1.39 million
Wellington, March 31 NZPA - NZX chief executive Mark Weldon was paid $1.39 million last year, up from $895,566 the previous year. The remuneration was disclosed in the company's 2009 annual report.

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