Category Taxation in New Zealand

NZ IRD to Automatically Give Out Refunds

August 3, 2018 Taxation in New Zealand

New Zealand IRDWELLINGTON – Waged staff in New Zealand will now automatically get tax refunds, without filling out any forms.

On August 3rd the Inland Revenue Department of New Zealand announced that it expects to automatically issue 750 000 tax refunds to individuals next year.

Currently, salary and wage earners in New Zealand see their personal income tax automatically deducted from their earnings, which means that they do not typically have to file annual tax returns.

However, workers whose job changed or whose payments were not always the same could voluntarily complete a Personal Tax Summary which may indicate that they are owed a tax refund.

While this process is aimed at being easy, there is an existing industry which will complete the procedure on behalf of taxpayers.

If the Inland Revenue De...

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Tobacco Taxes Killing NZ Shop Owners

July 24, 2018 Taxation in New Zealand

tobacco taxes in New ZealandWELLINGTON – Cigarettes and tobacco kill smokers, but cigarette taxes have led to the deaths of shopowners.

In a press conference on July 23rd, the acting Prime Minister of New Zealand Winston Peters claimed that the rate of taxation applied to the sale of tobacco and cigarettes is leading to the murder and assault of shop owners in New Zealand.

The government of New Zealand has a long-standing policy of annual increase to the rate of tax applied to cigarettes.

The hikes are intended to drive down the rate of smoking in the country, with the ultimate goal of seeing a “smoke-free” New Zealand by the year 2025.

Over the course of 2018, the number of violent robberies and assaults on small businesses appeared to have escalated, and many commentators suggested that the cause of the esca...

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New Petrol Taxes Launch in New Zealand

June 29, 2018 Taxation in New Zealand

petrol taxes in new zealandWELLINGTON – From this weekend on, petrol will be more expensive in New Zealand, as new taxes come into force.

Earlier this week the New Zealand government passed the third reading of a bill to levy a regional fuel tax in the country’s biggest city.

The new regional fuel tax will allow the Auckland Council to charge a tax of NZD 0.115 on each litre of petrol sold in the Auckland region.

The money gathered from the tax is aimed at helping fund new infrastructure developments, and to ease the monetary burden felt by the government in paying for roads in Auckland.

Along with the new regional tax, the government hopes to enact a new nation-wide tax from October 1st, which will be levied at a rate of NZD 0.035 per litre of petrol.

It is expected that by 2020 the new taxes will result in t...

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Tax Could Cut Housing Cost in NZ

June 19, 2018 Taxation in New Zealand

property taxWELLINGTON – Taxes could result in significant decreases to New Zealand’s cost of houses, however, it would be accompanied by increases to the cost of renting.

New Zealand’s Westpac bank released the results of new modelling on June 19th, showing the potential impact that several property taxes will have on the cost of housing in the country.

The modelling was provided to the Tax Working Group, a government established working group tasked with examining the feasibility of a wide set of tax reforms for New Zealand.

Housing is a hot topic in New Zealand, as the cost of renting or purchasing housing has grown significantly over the last several years, seriously harming housing affordability across the country.

The bank’s researchers examined the potential impact of a capital gains tax ...

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New Zealand Slaps New Taxes on Tourists

June 15, 2018 Taxation in New Zealand

Air New ZealandWELLINGTON – New Zealand is tightening up its borders and slapping taxes and fees on those wanting to visit or live in the country.

On June 15th the government of New Zealand launched a new consultation on proposed changes to the taxes and levies to be paid by visitors and migrants coming to the country.

Immigration and tourist taxes have been a hot-button topic in New Zealand in the last year, with the newly elected government making a campaign promise to address the issues of excessive inward migration and drawing more funding from visitors for tourism infrastructure.

The government has now released its proposed changes in this regard, and is seeking public comment on the proposals.

Among the proposed changes is a NZD 30 International Visitor Conservation and Tourism Levy, which will ...

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