Tag: Tax System

Tax Hikes Likely Coming, Experts Say

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With the general election coming in September, Prime Minister Jacinda Ardern and new National Party leader Judith Collins have both been rather quiet on the subject of tax increases. But economist Cameron Bagrie says that New Zealanders should not expect tax cuts, as the coronavirus crisis has forced the government…

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…

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…

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…

Strong Fundamentals Underpin NZ’s Strategy for Economic Growth

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Recent efforts to refine and balance New Zealand’s economic system have already shown impressive results, with the country outcompeting most others on the world stage in several areas. The World Bank’s Doing Business 2019 report recently ranked NZ first worldwide on its ‘ease of doing business’ scale, which singles out countries with…

National Party promises tax relief – but do the numbers add up?

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In his state of the nation speech delivered at the end of January, National Party leader Simon Bridges explained that his party will offer ‘rolling tax relief’ to help with increased expenses. “New Zealanders’ incomes are struggling to keep up with the rising cost of living because this Government is imposing more…