Tag: Tax

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…

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…
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Call To Tax Protein And Dairy

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The production of meat and dairy is one of the largest contributors to greenhouse gases (GHGs), responsible for 20-50% of all manufactured GHGs. New Zealand is one of the many countries called upon to introduce a tax on meat and dairy. This is in hopes that it will effectively lower…
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Accountant Jailed For Theft

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A New Zealand accountant was recently jailed for theft. A small clothing label by the name of Bettie Monroe was bleeding money and they didn’t even know it. For many years, the joint clothing boutique business was suffering at the hands of someone they trusted. The accountant, Roopa Patel was…

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…
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NZ’s Biggest Tax Fraud Cheat Sentenced

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The country’s biggest tax fraudster has this week been sentenced to a term of eight years and six months. John Bracken, a Matawai farmer and an exporter, has been convicted of carrying out a crude but effective $17.4 million tax scam in the form of GST refunds he was not…

NZ Government Mulls An End To Fuel Tax

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New Zealand has taken an aggressive approach to climate change with policies in place to help it achieve carbon neutrality by 2050. It has even taken steps to have financial firms report on the environmental effects of their investments. This set to impact 200 of the country’s largest businesses and…

Hope Dims for Simon Bridges’ Tax Bracket Bill

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The proposed Income Tax (Adjustment of Taxable Income Ranges) Amendment bill seems likely to fail following reports that the Labour Party would not support it. Deputy Prime Minister, Grant Robertson, stated that it was not on the agenda. With Labour already the majority in parliament, a lack of support here…