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New Zealand’s Slowing Economy Inspires Varying Theories – and Plenty of Blame

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New Zealand’s economy continues to lose momentum this year, experiencing its lowest annual growth rate since 2013. This dip has been accompanied by an increase in negativity across the news media, with businesses and consumers alike questioning international trade tensions, global economic health, and Brexit. The country’s GDP increased by…

New Zealand Salaries can now Legally be Paid in Cryptocurrency

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Last month, New Zealand became the first country to fully legalise salary payments in cryptocurrencies. The ruling came into effect on September 1st, 2019 and will last for three years. The Inland Revenue Department, who announced the decision in a bulletin released on August 7th,  states that as long as…

7 Common Mistakes People Make with Their Taxes

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Taxes aren’t a part of life most people would consider fun. Keeping track of all your receipts and records can be tiresome and tedious at the best of times, and infuriating and confusing at the worst. But unless you want the Inland Revenue Department (IRD) to come knocking on your…

Concern Mounts as New Zealand’s Economy Starts to Show Signs of Slowdown

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Economic growth in New Zealand continues to perform well by most measures, although businesses across the country are worried about a slowdown in economic performance as a result of inflation. A sense of optimism among business leaders is notably lacking at present, in the wake of Prime Minister Ardern’s declared…

NZ Joins Forces With More Countries to Tackle Tax Evasion

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Revenue Minister Stuart Nash recently announced that New Zealand will add 30 territories to its existing list of 60 countries which have mutually agreed to share tax information in a bid to combat tax evasion, according to New Zealand’s Inland Revenue Department. The move came as part of a global effort to…

Changes to be Made to KiwiSaver

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The new taxation bill (Annual Rates for 2018-19, Modernising Tax Administration, and Remedial Matter) proposes several changes to be made to KiwiSaver. The bill is currently awaiting a select committee report, before it will be read again in parliament later this month. Changes include adding new contribution rates of 6% and 10%…

NZ Seeking the Right Balance between Exports, Tourism and the Environment

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Growing tourism numbers, the various business benefits of the Trans-Pacific Partnership (TPP), and an increased investment in environmental protection are already beginning to shape New Zealand’s economic trends for the coming year. How these trends will be managed, and in particular how the government will navigate the intersection between economic…