Overseas debt among students has risen to a record $2.37 billion, of which an estimated $2.2 billion is owed by borrowers living offshore, the majority residing in Australia. In response to this, the IRD has more than doubled the size of its specialist staff and has increased legal action in…

According to ANZ’s chief economist, Sharon Zollner, this trend is fostering a renewed sense of confidence among businesses, with forward-looking indicators showing an upward trajectory. The survey indicates that overall business confidence has increased by five points to a level of +66. In addition, expectations regarding individual business activity have…

This move aims to address growing concerns about the fairness of banking services, especially for farmers and rural communities. Willis has formally requested the Finance and Primary Production committees to conduct the inquiry, highlighting the necessity for a competitive banking environment. This directive stems from a coalition agreement between the…

By DFK Australia New Zealand In the competitive world of accounting, standing out from the crowd is essential for success. One effective way to gain a competitive edge is by joining a professional association tailored to your industry. A professional association offers more than just membership—it provides a range of…

According to Stats NZ, households recorded a deficit of $479 million, marking a concerning trend in personal finances. In this quarter, household spending reached $60 billion, a 1 per cent increase from previous figures. This rise was largely driven by expenditures on services and essential non-durable goods such as groceries.…

This decision raises significant implications for New Zealand consumers. These supermarket groups, which operate under popular brands argued that merging would streamline operations, reduce costs, and ultimately lower grocery prices. However, the Commission’s chair, John Small, highlighted concerns that the merger would substantially lessen competition and empower Foodstuffs to negotiate…

This discussion has gained momentum following comments from ANZ’s chief executive, who suggested that the time has come to consider implementing a capital gains tax. The Labour government has indicated that it is reviewing its tax policies and is open to examining options such as capital gains, wealth, and capital…

The decline marks a 0.5 per cent drop in annual growth, as revealed by the latest data from Stats NZ. The news initially suggested the economy might be heading towards recession; however, a revision of the December quarter 2023 figures changed a previous contraction to a flat result, indicating that…

According to Statistics New Zealand, food prices experienced a slight increase of 0.2 per cent in August compared to July, although the annual inflation rate for food has eased to 0.4 per cent. This suggests that while prices for dining out, takeaways, and groceries continue to rise, the overall pace…

According to Worldline, an electronic payments network, total retail expenditure reached $2.89 billion in August, marking a modest 0.5 per cent decline from the same period last year. This figure, though still down year-over-year, represents a notable improvement from the 2.6 per cent drop observed in July. Chief Sales Officer…