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Tax

Tax law changes will increase fairness, ministers say

Tax law changes will increase fairness, ministers say
Wellington, Dec 7 NZPA - Changes are going to be made to tax laws so people can't structure their incomes and inflate their entitlements, the Government says.

Govt signs double tax agreement with Hong Kong

Govt signs double tax agreement with Hong Kong
Wellington, Dec 1 NZPA - New Zealand and Hong Kong have concluded a double tax agreement, the Government said today. Finance Minister Bill English and Hong Kong's Financial Secretary John Tsang signed the agreement in Auckland.

Use-of-money interest rates to change

Use-of-money interest rates to change
Wellington, Nov 23 NZPA - Use-of-money interest rates on underpaid and overpaid tax are to change, Revenue Minister Peter Dunne announced today.

Poor people focus on survival, not voting - Labour

Poor people focus on survival, not voting - Labour
Wellington, Nov 22 NZPA - Labour has seized on a poll showing most people feel they are worse off after tax changes as evidence that low-income voters have more pressing problems than voting in a by-election.

Majority feel worse off after tax changes

Majority feel worse off after tax changes
Wellington, Nov 21 NZPA - More people are unhappy with tax changes than are pleased, a new poll shows. On October 1, the Government increased GST from 12.5 percent to 15 percent, increased benefits and reduced personal income tax rates.

Tax credit for low income families to increase by $1k

Tax credit for low income families to increase by $1k
Wellington, Nov 16 NZPA - The minimum family tax credit for poorer families will be increased from next April to make up for the GST increase and inflation.

Dunne mortified over for Coleman speech mix-up

Dunne mortified over for Coleman speech mix-up
Wellington, Nov 10 NZPA - Revenue Minister Peter Dunne has accepted blame for an embarrassing mix-up which led to Broadcasting and Immigration Minister Jonathan Coleman delivering a two-year-old speech in Parliament last night.

Wrong speech, minister

Wrong speech, minister
By Peter Wilson of NZPA Wellington, Nov 9 NZPA - It is easy for MPs to become confused about tax legislation, and none more so than Jonathan Coleman.

NZ keen for review of British flight tax hikes

NZ keen for review of British flight tax hikes
Wellington, Nov 2 NPZA - A backlash against big spikes in departure tax for people travelling on long-haul flights from Britain has gone global, and the Government here hopes a review of the situation might lessen the impact.

New tax bill introduced

New tax bill introduced
Wellington, Oct 26 NZPA - A bill introduced to Parliament today will bring New Zealand's international tax rules into line with those of other countries, Revenue Minister Peter Dunne says.

WIll New Tax Rates Give You More money In Your Pocket?

WIll New Tax Rates Give You More money In Your Pocket?
You are no doubt aware that the personal income tax rates dropped on October 1st. The new rates are: $0 – $14,000 is now 10.5% down 2.5%$14,001 – $48,000 is now 17.5% down 4.5%$48,001 – $70,000 is now 30% down 3%Over $70,000 is now 33% down 5%

Winegrowers want retailers to pay alcohol excise

Winegrowers want retailers to pay alcohol excise
Wellington, Oct 7 NZPA - The nation's grapegrowers and winemakers are asking the Government to switch its $145 million collection of alcohol excise from wineries to retailers. "Excise is the major profitability issue on the domestic market," New Zealand Winegrowers said today.

Commerce Commission gets more than 30 GST complaints

Commerce Commission gets more than 30 GST complaints
By Paloma Migone of NZPA Wellington, Oct 4 NZPA - More than 30 complaints against businesses using the GST hike as an excuse to ramp up prices have been lodged with the Commerce Commission since the 2.5 percentage point increase kicked-in on Friday.

Public will now judge tax cut-GST merits

Public will now judge tax cut-GST merits
Wellington, Oct 1 NZPA - All the arguments about the pros and cons of tax cuts and GST rises have been had and now it will be up to households to decide whether they are better off or not. Today the Government's tax package kicked in and GST went up from 12.5 percent to 15 percent.

Union not celebrating tax reforms

Union not celebrating tax reforms
Wellington, Oct 1 NZPA - As some people count the extra dollars in their pay packets resulting from tax reforms starting today, a union has taken the opportunity to organise a rally at a retail chain against the reforms' GST component.

Tax reforms proportionately fair, says English

Tax reforms proportionately fair, says English
Wellington, Sept 30 NZPA - When tax reforms are fully implemented, all income groups will broadly receive about the same proportionate increase in disposable income, says Finance Minister Bill English.

Debate continues on eve of tax reforms

Debate continues on eve of tax reforms
There will be immediate gains for most when the Government's tax reform package takes effect tomorrow, but the extent of those gains in the wider scheme of things remains open for debate. Chris Ormond of NZPA reports.

Tax change scenarios

Tax change scenarios
Wellington, Sept 30 NZPA - Examples of how tax changes will affect income earners. General:

Tax package will be ineffective, says union economist

Tax package will be ineffective, says union economist
Wellington, Sept 27 NZPA - Tax cuts which come into effect on Friday are unfair and will fail to drag New Zealand out of recession, a union economist says. A package of income tax cuts takes effect on Friday and at the same time GST will go from 12.5 to 15 percent.

Labour expected to announce no GST on fruit and vege policy

Labour expected to announce no GST on fruit and vege policy
Wellington, Sept 26 NZPA - Labour is expected to announce tomorrow its $270 million policy for removing Goods and Services Tax (GST) from fresh fruit and vegetables.

National and Labour face tax cuts showdown

National and Labour face tax cuts showdown
By Peter Wilson, NZPA Political Editor Wellington, Sept 26 NZPA - Will you be better off this time next week? The Government says you will, the Labour Party says you won't.

Income splitting bill passes first reading

Income splitting bill passes first reading
Wellington, Sept 23 NZPA - A bill that allows parents with dependent children to split their income for tax purposes has passed its first reading in Parliament. United Future leader Peter Dunne, who is Minister of Revenue, introduced the bill which is one of his party's core policies.

Tax war breaks out in Parliament

Tax war breaks out in Parliament
Wellington, Sept 21 NZPA - Another tax war broke out in Parliament today and Labour MPs shouted "rubbish" when Prime Minister John Key said the vast majority of people would be better off when the October 1 cuts come in.

Phone and email scams operating

Phone and email scams operating
Wellington, Sept 21 NZPA - People are being warned to be vigilant as government departments learn of phone and email scammers.

Watch out for hoax tax refund email -IRD

Wellington, Sept 21 NZPA - Another hoax email is circulating, this time offering people a tax refund in exchange for credit card details, Inland Revenue says.

Govt gets ready for tax cuts sales job

Govt gets ready for tax cuts sales job
Wellington, Sept 20 NZPA - Government MPs will travel around the country explaining the October 1 tax cuts as the deadline approaches, Prime Minister John Key says.

IRD to be lenient on quake-affected late tax payers

IRD to be lenient on quake-affected late tax payers
Wellington, Sept 14 NZPA - Quake-affected Canterbury residents who get behind with tax payments will be able to get the interest waived under special circumstances, Revenue Minister Peter Dunne confirmed today.

IRD to help out quake victims

IRD to help out quake victims
Wellington, Sept 8 NZPA - People unable to meet their tax obligations as a result of the Canterbury earthquake may be able to have late payment penalties and interest wiped, Revenue Minister Peter Dunne says.

Contact joins power price rise

Wellington, Sept 8 NZPA - Contact Energy is the latest power company to signal it will increase its prices when GST rises on October 1. The Government is increasing GST to 15 percent, from 12.5 percent, at the same time as cutting personal tax rates.

GST likely to keep rising, says visiting tax expert

GST likely to keep rising, says visiting tax expert
Wellington, Sept 6 NZPA - A visiting tax expert says goods and services taxes are a kind of privatisation of taxation and meddling governments tend to keep raising such taxes to around 20 percent in many countries.

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