Tag: new zealand

NZ Q2 Business Confidence Rises Slightly

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The New Zealand Institute of Economic Research (NZIER) has released the findings of its quarterly survey that indicate the country’s business confidence improved slightly in June despite the economy still being in recessionary territory. Based on seasonally adjusted figures, 59% of surveyed firms expect the economic conditions to deteriorate, down…

Commerce Commission Cracks Down on Undue Surcharges

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The Commerce Commission has reportedly raised concerns with many large businesses over their excessive level of surcharges on customers using contactless payment methods. The commission has confirmed that it has written to many large firms on the issue, particularly when it came to those swiping or inserting their debit cards.…

Small Business Sector Optimistic Despite Recession Fears

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The 2022-2023 Asia Pacific Small Business Survey by CPA Australia has found that 40.3% of New Zealand’s small businesses expect the national economy to grow, while 43.2% expect it to shrink in 2023. While this is the second lowest result among the 11 Asia Pacific economies surveyed, 65.6% of these…

National Pegs Hopes on Build-to-Rent Policy

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Rent levels in New Zealand have risen substantially according to recent Trade Me Property data. The national median weekly rent rose to $595 in January, up by $25 a week or 4% from last year. This follows the national median having stagnated at $580 in the previous three months. According…

Growing Concern Over Rising Financial Services Complaints

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As economic pressures grow on consumers, there has been an increase in the number of financial services complaints. Financial Ombudsman, Susan Taylor, reported that there was a 17.5% surge in complaints lodged in the six months leading to December 2022. She noted that issues like higher interest rates and the…

Kiwis Investing More Despite Volatile Economic Times

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In a new report from the Financial Services Council (FSC) titled “Money and You: Investing in Volatile Times”, it has been found that there is a growing number of New Zealanders that are choosing to invest in financial products. About 4 in 5 Kiwis were found to be doing so,…

Government Resists Calls for Sugar Tax

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According to recently published research from a World Health Organisation (WHO) funded study conducted across a dozen countries and several US states, taxes on sugar-sweetened beverages do work on reducing the demand for said beverages by causing their prices to increase. The research reviewed 86 studies that found that with…

Highlights from Budget 2022

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Budget 2022 is unlikely to elicit much excitement from the tax community as no new taxes or amendments to the income tax thresholds were announced despite some calls to do so. Rather, the government has opted to provide Kiwis with a temporary stimulus targeted at low to middle-income households. This…

Kiwi Retailer Set to Freeze Commodity Prices for Winter

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One of the country’s biggest supermarket chains, Countdown, has announced plans to temporarily freeze retail prices on 500 retail items for the duration of winter. They have assured that the freeze will hold no matter the changes to inflation rates during this period. This move, it has been said, is…