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Tax

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.

Govt intends tightening rules around social assistance

Govt intends tightening rules around social assistance
Wellington, Aug 30 NZPA - The Government is looking at changing the rules around social assistance so people who don't need help don't get it, Revenue Minister Peter Dunne says. He has issued a tax policy issues paper and wants feedback on suggested changes.

Dunne changes rules around GST rate change

Dunne changes rules around GST rate change
Wellington, Aug 24 NZPA - Law changes to cut compliance costs around the upcoming GST rate change tax are among "business friendly" changes being made to a key piece of tax legislation, Revenue Minister Peter Dunne says.

Labour wants GST increase on rates delayed

Labour wants GST increase on rates delayed
Wellington, Aug 24 NZPA - Ratepayers should only be required to pay 12.5 percent GST on their rates bills for the current year, the Labour Party says.

Directors highlight issue of account treatment of tax changes

Directors highlight issue of account treatment of tax changes
Wellington, Aug 23 NZPA - Two leading professional directors say the accounting treatment of tax changes in the Government's May budget has distorted company accounts by more than $1 billion and is making them misleading.

Key paints grim picture of NZ's foreign debt

Key paints grim picture of NZ's foreign debt
By Peter Wilson of NZPA Wellington, Aug 17 NZPA - New Zealand's foreign debt is one of the worst in the world and people have to save more, Prime Minister John Key says.

Dunne's income-splitting scheme would cost Govt $450m

By Peter Wilson of NZPA Wellington, Aug 17 NZPA - Peter Dunne could have a hard time getting his income-splitting bill enacted because it would cost the Government $450 million a year in lost revenue.

Govt reserves judgment on income-splitting bill

Govt reserves judgment on income-splitting bill
Wellington, Aug 16 NZPA - The Government is reserving judgment on United Future leader Peter Dunne's income-splitting bill and will wait to see how the public reacts to it before deciding whether it should become law.

Key makes a case for compulsory super

Key makes a case for compulsory super
Wellington, Aug 16 NZPA - Prime Minister John Key is setting out a compelling case for compulsory superannuation and says public opinion has shifted since it was rejected in a 1997 referendum.

Dunne launches income-splitting bill

Dunne launches income-splitting bill
Wellington, Aug 16 NZPA - More than 300,000 families will be able to split their income for tax purposes and reduce their liability under legislation announced today by Revenue Minister Peter Dunne.

Dunne to announce income-splitting legislation

Dunne to announce income-splitting legislation
Wellington, Aug 13 NZPA - A new tax scheme with the potential to save couples with children as much as $9000 a year will be announced on Monday by Revenue Minister Peter Dunne.

Dunne looking at changes to depreciation rules

Dunne looking at changes to depreciation rules
Wellington, Aug 11 NZPA - Revenue Minister Peter Dunne wants feedback on suggested changes to the rules around asset depreciation. He said today the review included non-residential building fit-outs, which was announced in the May budget.

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