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RBNZ Mulls Launching Digital Currency

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The Reserve Bank of New Zealand (RBNZ) has opened up public consultation over proposals to introduce a central bank digital currency (CBDC). RBNZ Assistant Governor, Christian Hawkesby, has said that the trends in cash could pave way for greater innovation in money. This stems from the content in recently released…

Accountants for Zero Emissions

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The impacts of climate change are affecting the world already and is expected to worsen if not combated. As a result, many companies have started looking to turn green. Although initially it can be confusing where to start, accounting bodies are following suit. Chartered Accountants Australia and New Zealand (CA…

RBNZ Hikes Benchmark Interest Rate

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In an attempt to cool a heated property market and rising inflation, New Zealand’s central bank has announced a hike in its cash rate by 25 basis points on Wednesday. Economists had expected a hike over a month ago, but the response was shelved following the most recent Covid-19 outbreak…
bitcoin

Bitcoin Fund Aims To Tap Into New Zealand Market

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A new investment fund opened in New Zealand to allow investors to add the popular cryptocurrency Bitcoin to their portfolio. Without needing to commit to full, direct ownership, investors will be able to access digital assets like cryptocurrencies without the risk. The Vault International Bitcoin Fund is the first in…

New Interest Deductibility Rules to Net Government $1B Over Next 4 Years

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The New Zealand government’s proposed changes to interest deductibility rules on residential properties are expected to see it generate an estimated additional revenue of $1 billion over the next four years according to a statement given by Revenue minister, David Parker. The key change that will contribute to the government’s…
tax

NZ Tax Incentives For Economic Recovery

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New tax incentives encourage individuals and businesses to spend for economic recovery. The effects of the Covid-19 pandemic have affected the world economy and in New Zealand, many people have suffered its effects. A year ago, in September 2020, New Zealand entered a recession. Many sectors including retail, hospitality, transportation…

FMA Recommends Review of Credit Card Repayment Insurance Policies

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New Zealand’s Financial Markets Authority (FMA), is advising an estimated 200,000 Kiwis that may have invested in credit card repayment insurance (CCRI) to assess their need for the product. This is following a review that found the product offers ‘poor value and consequently, poor outcomes for the customers’. CCRI policies…
crypto

Cryptocurrency Going Green

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Cryptocurrency is starting to become more relevant and it’s important for New Zealand to catch up before getting left behind. Cryptocurrencies are not viewed as a financial product and not regulated in New Zealand yet crypto is still growing worldwide. The Reserve Bank has hesitated at referring to cryptocurrency as…

Q2 GDP Surge Exceeds Expectations

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Stats NZ has announced that the economy grew by an unprecedented 2.8% in the second-quarter ending in June. Economists had earlier predicted growth of between 1.1 to 1.5%, comparable to the 1.4% growth registered in the first quarter that ended in March this year. The Reserve Bank of New Zealand…