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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…
housing

Housing Prices Continue To Soar

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Although the number of property sales have decreased, the median price for real estate in New Zealand continues to rise. The Covid-19 pandemic has done little to slow down the New Zealand property market. New Zealand has always had low levels of supply, resulting in fewer properties available to buy.…

‘Lazy Tax’ Paid By Many New Zealanders

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Many people are subject to complacency when it comes to keeping up with their expenses. Research by comparison website Finder, indicates that as much as 87% of Kiwis are paying a lazy tax on financial products like home loans, car loans, personal loans, and income protection insurance. ‘Lazy tax’ is…

Debate On How to Fund Superannuation Scheme Mounts

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Discussion on how to meet funding requirements for the government’s superannuation scheme has peaked in recent days following the Treasury’s estimates that its cost will reach $49 billion by 2041. The scheme is also expected to grow by 1.5 times more than the economy over the next 40 years. There…

Surprising Pay Gap Revealed

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Gendered pay gaps in New Zealand have  shown signs of worsening this year. There has been little improvement since the Covid-19 pandemic. Data shows that that there’s a pay gap of 18% but even gaps up to 20% or 30% are common too. Despite wage increases across the board, the…

Air New Zealand Reports $289M Loss

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Air New Zealand has just reported a pre-tax loss of $307 million and an after-tax loss amounting to $289 million for the financial year ending on June 30. This is based on operating revenues of NZ$2.5 billion that fell by 48% from the previous year. With this announcement came confirmation…

Economy on pause due to lockdown

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New Zealand’s response to the Covid-19 pandemic was praised around the world. However, the new Delta variant of the virus has thrown a spanner in the works. New Zealand entering level 4 lockdowns and the volatility of the strain of virus has thrown some uncertainty into the economy. Although lockdown…