Compulsory super debate ‘inevitable’

1:02 PM Saturday May 29, 2010 Finance Minister Bill English says the debate around compulsory superannuation will come again but it will also revive the issue of whether national superannuation should be means tested. \”The answer to that has been a big fat ‘No’ for 25 years. \”It is unlikely New Zealand is going to

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[IRD] [taxpolicy] Budget tax measures legislation enacted

Legislation introduced under urgency on 20 May in the Taxation (Budget Measures) Bill has been enacted.  The legislation passed its final stages in Parliament on 21 May and received Royal assent on 27 May.   For more information see the resulting Act published at: http://taxpolicy.ird.govt.nz  

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Budget 2010: Experts praise tax cuts for all

There’s been a largely positive reaction to tax changes announced in today’s Budget. The Government today unveiled what it called the biggest overhaul to the New Zealand tax system in 25 years. All personal tax rates will be cut from October 1, GST is being raised to 15pc, company tax will be cut next year

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[IRD] [taxpolicy] Budget tax bill introduced

A taxation bill tabled in Parliament this afternoon introduces measures announced in Budget 2010, including lower tax rates for individuals, businesses and savers, a rise in the GST rate, and changes to the investment property rules.  In addition to the measures in the bill, Budget 2010 announced changes to reform the rules around loss attributing

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[IRD] [taxpolicy] Budget 2010 tax reforms

The Government has today announced a wide-ranging package of tax reforms as part of Budget 2010.  They include lower personal income tax rates, a rise in the GST rate with compensation, lower tax rates for companies and savings vehicles, and changes to the depreciation rules.   For more information see the Government’s Budget 2010 tax

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Budget 2010: Biggest tax overhaul in 25 years

Budget 2010 is all about tax, with the Government this afternoon unveiling what it says is the biggest overhaul to the New Zealand tax system in 25 years. And it’s promising the ‘vast majority\” of New Zealanders will be better off as a result. All personal tax rates will be cut from October 1, GST

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Demand soars for contract employees

Finance and accounting contractors are experiencing a rising demand for their talents as employers and local authorities kick-start projects postponed during the recession, according to a recruitment specialist. Robert Half International’s New Zealand division manager Ronil Singh said an increase in the hiring of contract workers was a sign that companies were gaining confidence and

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Budget: What’s in it for you

Finance Minister Bill English is promising no dramatics in his second Budget. This would give someone on $50,000 – just above the average wage – an extra $20 a week in the hand. It would still meet the test set by Prime Minister John Key of not making people worse off. \”But that is not

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Aussie workforce grows

The median estimate of 22 economists surveyed by Bloomberg News was for an increase of 22,500. The jobless rate was unchanged in April, from a revised 5.4 per cent in the previous month. The number of full-time jobs were up 37,500 in April and part-time employment decreased 3900, yesterday’s report showed. Inflation is forecast to

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[IRD] May 2010 issue of Agents Answers

In this issue you can read about provisional tax for 2011 tax year, compliance and tax agents, incorrect interest calculation for some non-resident companies, new tax treaties, PTS requests for student loan borrowers, interest-free student loans for charities volunteers, foreign tax credits from FIF income, changes to interest-free exemptions for student loan borrowers, changes to

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Boost to Aussie pension fund could add to Kiwi brain drain

The increase from 9 per cent, to be phased in by 2019, would add an extra $137,000 to the retirement fund of the average 30-year-old male Aussie worker. He said Australia already had a \”turbo-charged\” superannuation scheme, which had turned the country’s capital markets into an \”all conquering monster\”. Hickey said the Australian Government’s move

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