Tag: Government

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…

Financial Sector Hit By New Climate Change Reporting Law

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New Zealand’s financial firms may soon be required to make disclosures on how climate change is impacting their investments and how they are managing climate-related risks and opportunities. This follows the introduction of new legislation that would require institutions like banks, insurance and investment firms to report on their climate…

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…

The IMF Warns New Zealand over High House Prices

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New Zealand’s relative success in handling the pandemic has been looked upon with envious eyes by many other nations. Their quick and effective reaction to the threat has helped to significantly minimise the effect on their economy and their recovery is also happening at a faster pace than most other…

Tax statistics raise questions of fairness and equality

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New data from Inland Revenue (IRD) and Treasury shows that the richest segment of the population – known as high wealth individuals (HWIs) – pay an average of 12% of their income in tax. By comparison, those earning median incomes between $55,000 to $60,000 pay an effective tax rate of…

NZ Anticipates Boost To Economy With UK Bid To Join CPTPP

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Following Brexit, the UK has now opted to pursue new trade alliances, with the Comprehensive and Progressive Agreement of Trans-Pacific Partnership (CPTPP) next on their agenda. The government, led by its Trade Minister, Liz Truss, has begun the process by formally making a request to officials from New Zealand and…

Queenstown Tourism Economy Struggles Amid Lack Of International Visitors

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Queenstown Lakes Mayor, Jim Boult, anticipates that many businesses could end up boarded up by the time international visitors return to the tourism hub. This is supported by a recently released report by the Treasury that indicates that Otago and Southland will be amongst the hardest hit regions by the…

New Tourism Solutions Needed to Boost NZ’s Economy

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Every little bit helps. Such is the thinking behind a variety of steps currently being considered or implemented, to try to get New Zealand’s struggling tourism industry back on its feet. The idea of incentivising domestic tourism, opening travel bubbles between New Zealand and other ‘safe’ countries, and tasking the…