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Cash Payment for New Zealanders Would Boost Economy: Kiwibank Chief Economist

A one-time payment of $1,500 per adult and $500 per child would provide a much-needed boost to the economy once Level 3 restrictions are lifted, says Kiwibank chief economist Jarrod Kerr. Kerr says that at certain point the government must shift from saving the economy to stimulating it and that…

Small businesses need more help than they are getting say opposition party and business leader

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Despite the recently announced $3.2 billion COVID-19 support package for businesses, the National Party and some business leaders are calling for the government to do more. National Party economic development spokesperson Todd McClay says that direct financial support should be given to businesses in most need. McClay points out that…

Inland Revenue mistakenly sends 240,00 letters stating cancellation of Working for Families payments

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The Inland Revenue Department mistakenly sent out approximately 240,000 letters informing recipients of the cancellation of their Working for Families payments. The letters included a Notice of Entitlement that stated payments would no longer be sent starting from April 1. “Essentially, the letters shouldn’t have gone and we’re sorry for…

IRD softens deadlines amidst COVID-19 pandemic, but companies will still have to pay

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March 28 was the due date for GST returns and payments, while April 7 is the upcoming deadline for provisional tax payments for businesses that have a March balance date. Chartered Accountants Australia and New Zealand tax leader John Cuthbertson said that due to the economic disruption caused by COVID-19,…

New Email Scam Circulating in New Zealand

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Fraudulent emails claiming to be from the Inland Revenue Department and stating that the receiver is entitled to a tax refund have been circulating to New Zealanders’ inboxes. The emails have a similar layout to official IRD emails and also contain the IRD logo, making them appear legitimate at first…

IRD No Longer Accepting Cheques

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As of March 1st 2020, the Inland Revenue Department stopped accepting cheques. The decision was taken after Kiwibank, New Zealand Post, and the Accident Compensation Corporation took the same step. According to spokesperson Sharon Thompson, the IRD is becoming more digital in its operations and a majority of its customers…

OneCoin Cryptocurrency Investigation Reaches Second Auckland Church

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The Samoa Worship Centre in Auckland is being investigated by the Department of Internal Affairs for crimes related to cryptocurrency fraud. This is the second church to have alleged ties to a multi-billion dollar scam involving the OneCoin cryptocurrency. US authorities have also charged a OneCoin leader with fraud. Experts…

New Tax Law for Employee Travel

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Starting April 1 this year, the Inland Revenue Department will apply a new tax law for employee travel. This law simplifies the tax rules with regard to employees travelling long distances or to multiple locations for business reasons. The IRD noted that tax rules covering employee travel have up to…

New Zealand’s Economic Growth Exceeds Expectations of Many Analysts

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In the third quarter of 2019, New Zealand’s GDP rose by more than many analysts predicted. In the three months to the end of September, the economy rose by 0.7 per cent. ASB accurately predicted a 0.7 per cent increase, but the Reserve Bank and ANZ had forecasted growth of…

Inland Revenue Pressures Oracle on Transfer Pricing

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The Inland Revenue Department is currently embroiled in a transfer pricing dispute with business software titan Oracle. Oracle received a statement of position with regards to taxes owed in April of last year. However, Oracle responded in June stating their disagreement with the matter. Professional tax advisors have commented that…

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Cash Payment for New Zealanders Would Boost Economy: Kiwibank Chief Economist

Small businesses need more help than they are getting say opposition party and business leader

Inland Revenue mistakenly sends 240,00 letters stating cancellation of Working for Families payments

IRD softens deadlines amidst COVID-19 pandemic, but companies will still have to pay

New Email Scam Circulating in New Zealand

IRD No Longer Accepting Cheques

OneCoin Cryptocurrency Investigation Reaches Second Auckland Church

New Tax Law for Employee Travel

New Zealand’s Economic Growth Exceeds Expectations of Many Analysts

Inland Revenue Pressures Oracle on Transfer Pricing

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