[IRD] Update from Policy Advice Division, Inland Revenue, NZ

The Student Loan Scheme (Exemptions and Miscellaneous Provisions) Amendment Bill passed its final stages under urgency in Parliament last night.  The legislation, which now awaits Royal assent, extends interest-free loans to students studying overseas full-time on formal exchange programmes, and to borrowers from countries in the Realm of New Zealand.   The formula for setting

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MPs to debate youth minimum wage

A bill allowing the Government to re-introduce a youth minimum wage is to be debated by Parliament. The bill in the name of Act MP Sir Roger Douglas was drawn from a ballot of members’ bills. The last Government ditched youth rates and said the minimum wage should apply to all workers from 16 years-old.

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Info gap leaves KiwiSavers in dark

Hundreds of thousands of people may not know who is managing their KiwiSaver money because of problems with getting their addresses correct. The issue was raised yesterday by industry body the Investment Savings and Insurance Association at a meeting of KiwiSaver providers in Auckland. ISI chief executive Vance Arkinstall said the problem particularly affected those

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[DOL] DYNAMICS ISSUE 6, February 2010

In this issue we highlight the December 2009 quarter figures from the Household Labour Force Survey released on 4 February 2010. We also introduce two new labour market information tools: the Sector Tool and Jobs Online. Our Māori in the New Zealand Labour market report looks at Māori unemployment, education, and other measures – all

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Holiday entitlements for Anzac day

This year Anzac day falls on Sunday 25 April. This means that those who normally work Sundays will receive a paid day off on Anzac day. Alternatively if you do work on Anzac day, you are entitled to time and a half for the hours you work and an alternative holiday (if Sunday would be

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Minimum Wage is going up to $12.75

The new minimum wage rates will come into effect on April 1, 2010. The adult minimum wage will increase from $12.50 to $12.75. This applies to all employees aged 18 and over and includes those aged 16 and 17 who are not new entrants or trainees. The training and new entrants‘ minimum wages will increase

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[IRD taxpolicy] PM signals tax reform changes

Update from Policy Advice Division, Inland Revenue, NZ http://www.taxpolicy.ird.govt.nz In his Statement at the opening of Parliament today, Prime Minister John Key said measures to reform the tax system would be introduced as part of the Budget in May. Any changes would be based on \”equity and fairness\”. Mr Key has signalled changes to the

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GST hike, tax cuts tipped – Key

A rise in GST to 15 per cent has been strongly signalled in the Prime Minister’s statement to Parliament but it would be offset by across-the-board cuts in personal tax. Benefits, superannuation and working for families would increase as well to assist people on low incomes who would be hardest hit by a rise in

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[IRD] Feb Agent Answers

In this issue you can read about: end-of-year filing performance tips, tax due 7 April, online financial transfer requests, GST and associated persons, new 0800 number features, IR 3 filers and child support calculations, starting payroll giving, non-payment penalties, certificate of exemption renewals and tax codes, tax statistics online, GST on ITO fees, instalment arrangements

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