Reforms may mean axe for provisional tax

The hated provisional tax system could be scrapped or simplified and there may no need for any employees to file tax returns under far-reaching moves to reform the tax system.Accounting software firm MYOB said three-quarters of small businesses cited provisional tax as their number one tax bugbear.Inland Revenue is planning to replace its 23 year-old

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KiwiSaver default funds to stay conservative

The government has settled on keeping the existing investment mandate for default KiwiSaver providers to manage funds conservatively, fending off attempts to implement a tiered approach based on members’ age.Finance Minister Bill English and Commerce Minister Craig Foss today announced the government’s decision on the default provider review launched in November last year, keeping the

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Court backs KiwiSaver ruling

A landmark ruling effectively raising the minimum wage has scaled its latest hurdle.The Court of Appeal chose yesterday to uphold last year’s decision by the Employment Court that employers paying the minimum wage had to pay their KiwiSaver contributions on top. This would give some minimum-wage workers an extra $540 a year.Lower Hutt caregivers Vasivasi

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