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Tax

Cost of tax compliance higher than expected - professor

A University of Canterbury tax professor says the overall costs of compliance for small to medium businesses is higher than the most recent published study undertaken by the Inland Revenue Department but, but slightly lower overall than for a recent and comparable Australian study.

Property speculators targeted by IRD

Revenue Minister Todd McClay says Inland Revenue’s proactive strategy to track down those attempting to avoid paying tax is showing big dividends.

Planned outage: IRD web services

Customers are advised Inland Revenue will be changing over all of its mainframe services to a new provider. Work will start at 6am on Saturday 15 November 2014 and continue throughout the following day.

Research shows disparity between tax paid by women and men

Research from Victoria University of Wellington examining taxation and government welfare spending by age and gender in New Zealand shows that women pay less tax than men over their lifetime and receive more government assistance.

NZ's tax system 'second most competitive in the world'

Findings that New Zealand’s tax system is the second most competitive of all 34 OECD countries reflect changes that should be promoted more internationally, says Greg Thompson, Partner and National Director, Tax at Grant Thornton New Zealand.

'Meaningful path' needed to ease tax burden

The Taxpayers’ Union is calling on the National Party to announce a meaningful plan to reduce New Zealanders' tax burden in its expected tax cut announcement this afternoon. Taxpayers’ Union Executive Director Jordan Williams says:

NZers to have say on the future of the tax system

Six people from a variety of backgrounds will give New Zealanders a voice in simplifying, modernising and transforming the way tax is paid.

Henri Eliot to chair Tax Simplification Panel

Revenue Minister Todd McClay has announced Board Dynamics founder, Henri Eliot, as the Chair of the new Taxpayer’s Simplification Panel. The Panel will give New Zealanders a voice in simplifying, modernising and transforming the way we all pay tax.

FIF deemed rate of return set for 2013-14

Revenue Minister Todd McClay has announced that the deemed rate of return for taxing foreign investment fund (FIF) interests has been set at 7.99% for the 2013-14 income year, up from 6.91% for the previous income year.

Tax refunds not so taxing after all

Inland Revenue (IRD) will be releasing some of their 2014 financial year tax refunds very soon. Those who have requested a tax refund will now be able to learn how much they are owed and if registered with a tax agent receive their tax refund once they are released.

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