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Cryptocurrency used to money launder

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When cryptocurrency was first revealed to the world and Bitcoin began in 2009, many people saw its only use as being in the black market. Cryptocurrency in its infancy was not taken seriously by the world. When it was just Bitcoin that was around, its value was low and barely…

New Zealand’s CPI Spike Highest In A Decade

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The Reserve Bank of New Zealand (RBNZ) has reported a surprising spike in the consumer price index (CPI) that has raised inflation by 1.3%, achieving an annual inflation rate of 3.3% by the end of the second quarter. These figures are well above the RBNZ’s target inflation band of 1-3%…

Howl of A Protest Against “Ute Tax” Gathers Momentum

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The farming community is all set to demonstrate their displeasure at new tax regulations they feel are unfairly targeting their livelihoods and mounting unnecessary regulations. Top of the agenda is the government’s Clean Car Package. It introduces new legislation meant to encourage more New Zealanders to invest in lower carbon-emitting…

Strong Tax Take And Low Expenses Cut Budget Deficit Forecasts

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The government appears cautiously optimistic following the release of official figures that indicate the budget deficit has been kept lower than anticipated. The operating balance before gains and losses was sustained at $3.6 billion for the 11 months ending in May 2021. This is more than 40% less than what…

Increased Excise Rate to Worsen Small Wineries Woes

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From July 1, small wineries will see excise rates on domestic wine sales increase by 1.5%. This will amount to a further excise tax of about $2.33 per bottle and $28 per case of 12 bottles. The new rate is expected to worsen the situation for an estimated 300 small…