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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.

Changes to GST legislation

Changes to GST legislation
Wellington, Aug 10 NZPA - Increasing the GST rate in October will now be easier for businesses after the Government made changes for goods and services that straddle the October 1 change over date. GST will rise from 12.5 percent to 15 percent from this October.

Government tidies up GST on commercial land transactions

Government tidies up GST on commercial land transactions
Wellington, Aug 5 NZPA - No goods and services tax (GST) will be payable on commercial land transactions between GST-registered parties from April 1 next year if a bill introduced into Parliament today goes through.

Flying Kiwis warned to take care over tax info

Flying Kiwis warned to take care over tax info
Wellington, August 3 NZPA - New Zealanders leaving to work overseas for an extended period should seek professional advice before filling in Inland Revenue's residence questionnaire, or face a potential legal challenge to the department, the New Zealand Institute of Chartered Accountants (NZICA)

Personal tax information could go to credit rating agency

By Kate Chapman of NZPA Wellington, July 28 NZPA - Personal information held by the Inland Revenue Department (IRD) could be given to credit rating agencies if proposed changes to privacy of tax information go ahead.

Dunne moves to clear up confusion on GST implementation

Dunne moves to clear up confusion on GST implementation
Wellington, July 23 NZPA - Revenue Minister Peter Dunne today addressed some unintended consequences of the Government's move to increase the goods and services tax (GST) to 15 percent from 12.5 percent on October 1 -- to sighs of relief.

GST removal from healthy food gets a 'no'

GST removal from healthy food gets a 'no'
Wellington, July 21 NZPA - A bid to remove GST on healthy foods to lower costs has been slammed by the Government.

Treasury and IRD at odds in company tax advice

Treasury and IRD at odds in company tax advice
Wellington, July 8 NZPA - Treasury and Inland Revenue Department (IRD) were at odds over the Government's decision to cut the company tax rate to 28 percent.

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.

GST Rise Would Be Matched By Immediate Super Hike: Key

GST Rise Would Be Matched By Immediate Super Hike: Key
If GST rises in the upcoming budget then superannuation payments would immediately rise by 2 percent in addition to any tax cuts that would apply, Prime Minister John Key said today.

Higher GST Seen Funding Lower Personal And Corporate Tax

Higher GST Seen Funding Lower Personal And Corporate Tax
Wellington, Jan 20 NZPA - Personal income taxes and company taxes are the worst for economic growth and consumption taxes are better, according to the Tax Working Group, which put options for a complete revamp of the tax system before the Government today.

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